No matter what the size of your business or what you do your business is opened to risks such as movements in competitors' prices, raw material prices, competitors' cost of capital, foreign exchange rates or even interest rates. By managing the parts that affect your business could mean the difference between taking a profit or making a loss.
This section addresses the task of managing exposure to Foreign Exchange movements. These Risk Management Guidelines are primarily an enunciation of some good and prudent practices in exposure management. They have to be understood, and slowly internalised and customised so that they yield positive benefits to the company over time.
One of the best cost effective options is to ustilise a foreign exchange broker to deal with currency exposure, this is a free service and will save your business money and over time will make the people in your organisation to both be aware of these practices and approve them as a standard policy. Once that is done, it becomes easier for the Exposure Managers to get along efficiently with their task.
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