The Euro over the next month to six weeks could have a double whammy consecutively. Today the entire Forex market is expecting and aligned for a 0.25% interest rate rise from the Federal Reserve, which will take interest rates in the US to 0.375%. While the Euro has broken the $1.10 mark this week. Ultimately this is due to the ECB surprising the markets two weeks ago and the Forex market being unprepared to make any drastic movements before today’s meeting.Read More
Due to globalisation, companies whether doing business internationally or nationally are effected by currency volatility which can impact profitability.
For instance, how about losing 298 million pounds in nine months due to emerging market currency volatility. Or Swiss companies facing increasing pressure once the Swiss Central Bank allowed the Swiss Franc to float on the open market.Read More
In America TransferMate is used by thousands of companies. Typically banks charge upwards of $70 per transaction, including an additional fee if you request a same day payment including poor exchange rate. TransferMate offer a first class service which our key benefits include: Faster payments American banks usually take longer than three days and clients have told us situations where it took nine days for a bank to make an international payment to a vendor. TransferMate use a global network of bank accounts allowing us to transfer money across the…Read More
If part of your job involves converting foreign currency to US dollars or vice versa, 2014 could have been a challenging year for you.
If you are based in the U.S. and selling to clients overseas, your products – depending where you sell them – this year became on average 10% more expensive (US Dollar Index+9.8%). If you were importing it was a banner year – you just saved on average 10% on your products. By historical standards this was one of the best appreciations of the dollar over the last 15 years.Read More
Whether you are importing and exporting goods for your business, importing a car from another country, or simply want to transfer money abroad, it is important to understand how the foreign exchange market works. So to help you, we have put together this Guide to Foreign Exchange. A Simple Guide to Foreign Exchange There is no magic fairy dust that can get you the best rate possible, but there are certainly some actions you can take that will help you improve what you are doing. Because often, just making just a few…Read More