GlobeTopper and Knox Wire announce $50 million per year partnership.

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A series of reports by ACCA and Kantox found that over 80% of SMEs trading internationally had experienced losses or gains due to currency fluctuations, one-third of them over $1 million.

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#forex #forex trading #Currency #payments

After Brexit, the British pound was ranked the eighth most volatile across major emerging and advanced economies, putting it alongside currencies from Eastern Europe and Latin America.

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#Brexit #forex #forex trading #Currency #payments

“We’ve never had as many CEOs and CFOs talk about currency.” - Wolfgang Koester, chief executive of FiREapps.

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FX risk, also known as currency risk or exchange rate risk, refers to the losses that can be incurred on international financial transactions due to fluctuating foreign currency rates.

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Economic risk, “forecast risk” or “operating exposure,” is a form of long-term risk that occurs when a company’s market value and/or future cash flows are negatively impacted by exposure to currency fluctuations.
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Translation risk occurs if a parent company reports a consolidated financial statement for its subsidiaries as opposed to keeping them independent

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A common misconception held by companies, according to IndustryWeek, is that they do not face risk because they buy and sell only in contracts denominated in U.S. dollars. In reality, a price might actually be calculated by the supplier using the value of a different currency.

Collectively, 1,200 European and North American companies surveyed in a 2018 FiREapps Currency Impact Report quantified $15.61 billion in negative currency impacts in Q3 2018.

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Even as global trade was ravaged by the COVID‑19 pandemic, Canadian exporters continued to benefit from utilizing the multiple Free Trade Agreements (FTAs) that are currently in force.

tradecommissioner.gc.ca/canadexport/00…

#freetrade #FTA #Canada #exports #exporters

FX risk isn’t just for big multinationals. Any company with international suppliers or customers is subject to fluctuations.

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