March 17, 2020 — 2 min read
In the current environment where nearly every country has been affected in some way or other by the Coronavirus pandemic businesses trading internationally, be that importers with commitments to spend and exporters with contracts to fulfill are faced with ever more uncertainty around when they are due to receive funds or when payments will actually be made . Dependent on where they ship from or to and, with supply chains and contract completion uncertain, decisions around when to cover the FX risk associated with their specific requirements becomes more challenging.
At Xe we are used to dealing with these situations. We recognise that in most instances exporters require a degree of flexibility and the ability to easily amend forward contracts when a contract may be completed early or delayed. With supply chains strained and commitments outstanding, waiting for shipment or arrival at port, the same flexibility is also likely to be required for importers in the weeks and potentially months ahead.
If as a business you have concerns over your FX risk and whether to take proportionate cover please do get in touch to discuss whether XE are able to assist as it may be we will be able to offer you the forward facility and flexibility you require, dependent on your unique circumstances.
At the time of writing.
GBPUSD - 1.2155
GBPEUR - 1.0980
EURUSD - 1.1070
The figures are based on the live mid-market rate, correct as of 08:00 GMT on 16/03/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.
If you’d like to talk to our Business Solutions team about your business requirements, get in touch here.
The information, materials, accompanying literature and documentation available on our internet site is for information purposes only and is not intended as a solicitation for funds or a recommendation to trade. XE, its officers, employees and representatives accept no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.
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