Currency fluctuations

[Leson50]

Any smart moves on dealing with movements affecting price of sterling?

 

[GraemeL]

If you know what you are doing, you can hedge. Sorry I cant help more, but I am aware of clients who do this to protect themselves from fluctuaions in £/Euro and £/USD.

Note that they do not attempt to make money, they hedge to ensure that the price they quote in £ today can be held, which ever direction the source currency goes.

You need a lot of expertise though!

 

[Barnie]

we do 2 things, if we are not ready to purchase we buy when price is good as above and then the currency is ready for us.

secondly we set base limits to work from, so euro we use 90p per euro and 66p per $ (although dollar was a bit close in recent weeks), we work out our retail costs from these

tbh for the euro with shipping you may as well use 1euro = £1 which should clear your all in

 

[Martin C]

I used to quote Euro before. But now it seems no so good. As a sales man, I am confused a lot with the rate too.

 

[Leson50]

we do 2 things, if we are not ready to purchase we buy when price is good as above and then the currency is ready for us.

secondly we set base limits to work from, so euro we use 90p per euro and 66p per $ (although dollar was a bit close in recent weeks), we work out our retail costs from these

tbh for the euro with shipping you may as well use 1euro = £1 which should clear your all in

Thanks for the tip. Struggling with sterling and the US dollar. Supplier putting prices up in and the pound continues to fall. Double whammy. Might need to make an order in Dec which is proving tricky.