Hello and welcome to our mini series oftop tips for currency management.
We'll be sharing five top tips that we hope will be helpful and we feel shouldn't be overlooked by any company makingdecisions on currency.
First up is take control of the currency conversion so, this may seem basic or slightly obvious but it's very important that any companywith meaningful foreign exchange requirements has accounts for everycurrency in which they operate.
Added to that they need to have visibility of thecurrency conversion.
Too often online platforms or banking systems willactually keep the process at the currency conversion quite opaque andclearly that's intentional to try and widen out the margins.
But any companydoing foreign exchange should have control of the conversion they shouldsee the rate and have control of the timings and in this way they'll avoidthe excessive margins that are all too common particularly in internationalpayments.