Guide

Foreign currency and exchange risks

Introduction

If your business exports or imports goods or services, you need to consider how you will protect yourself against changes in the exchange rate. Even a small variation in the rate could cost your business thousands of pounds.

You'll also need to decide how to make and receive payments in foreign currencies.

This guide is aimed at businesses that regularly deal with customers who are based outside of the UK. It explains how to price goods or services, how to combat the risk of exchange rate changes and the practicalities of dealing in foreign currencies.