Business Essentials
CATALYST
The Business Staying current with currency A Constellation Software Company
0116 230 1500 | sales@catalyst-uk.com | www.catalyst-uk.com
Buying and selling on good currency terms can be as important to the bottom line as making sales in the first place. But with such volatility, can firms protect their position?
40
FEBRUARY 2022
The latest news and views in the world of business
A
s business becomes increasingly global, especially where products are sourced for retail, the issues surrounding foreign exchange management become ever more pressing. While many retailers only buy and sell in sterling, the effects of currency changes will be an issue for manufacturers and distributors and by extension, retailers too. Anyone watching the slide of sterling in the runup to the Brexit vote in June 2016 will have seen import prices rise while exports
became more competitive. And the same happened as the UK went into lockdown in March 2020. So how does the currency process work and what can be done to fix a commercial exchange rate? There are undoubtedly all manner of ways to complicate things and while there are as many variations on currency products as there are permutations on a lottery ticket, there are also some straightforward steps that businesses can take to manage currency risk.
www.britishdealernews.co.uk