A Guide to Currency Dealing
Unless you have extreme spending habits, currency dealing is not usually anything to do with buying foreign currency for your trip abroad.
When you deal in foreign currency, it is usually for one of the following purposes,
where the large sums of money involved can make it important to fix the cost of the deal in advance:
- Corporate - Foreign exchange has always been a major issue for companies trading with overseas customers and suppliers.
Exchange rates now fluctuate faster than ever, leading to increased risk and potential losses for the company concerned.
By using a specialist currency dealer, your company will be able to take advantage of excellent rates, speak directly with traders,
and gain access to the latest exchange rates, sometimes even outside normal banking hours.
- Buying a property overseas Planning a purchase in another country can be a complicated process -
remove some the uncertainty by placing your foreign currency transaction in the hands of a dealer that is able to fix
in advance the cost of the currency required to purchase your property.
- Moving abroad Planning a big move to another country can seem a daunting process,
sorting out your currency in advance can help you budget more accurately for your expenses.
- Importing a car The lower commission charges and more competitive rates that currency dealers
offer mean even bigger savings are passed on to you when importing a car from abroad.
- Buying a yacht or boat abroad When purchasing a boat or yacht outside the UK you expose yourself to international currency fluctuations.
The time between placing your order and final delivery could see your original cost estimates change significantly.
- Buying your aircraft abroad When purchasing an aircraft, helicopter or spares you expose yourself to international currency fluctuations.
As with a marine purchase, the time between placing your order and final delivery could see your original cost estimates change significantly.