Why Do Currencies Fluctuate?

These days some currency rates are jumping to all time highs while others are plunging to record lows.

Exchange rates are always constantly fluctuating, but what causes a currency’s value to rise and fall? Simply put: currencies fluctuate based on supply and demand.

Most of the world’s currencies are bought and sold based on flexible exchange rates. Their prices fluctuate based on the supply and demand in the foreign exchange market. A currency in short supply or in high demand will cause a price increase. Continue Reading

5 Tips for Currency Exchange

If you’ve ever traveled abroad, sent a money transfer to family overseas, or made international business payments, you know it can be a pain to exchange currency.

Searching banks, online exchange providers, or the streets of an unknown city for the best rates can be time consuming and costly. And, if you don’t pay attention, foreign exchange costs can add up.

Here are five tips to help you save on currency exchange. Continue Reading

Need to Send Money? How to Choose a Provider

Are you looking to send money abroad? These days, there are plenty of online foreign exchange services available to transfer money.

The difficulty lies in choosing one that works best for you. Finding a reliable and low-priced provider can be a challenge but could easily save you time and money in the long run.

When deciding on a foreign exchange provider to send money online with, consider the following factors. Continue Reading

What to look for in an international money transfer provider

For many businesses today, it’s not always enough to be established domestically, it’s proven hugely beneficial to expand overseas.

The benefits include:

  • Increasing your customer base
  • Avoiding local competition
  • Keeping control of pricing
  • Building a global brand
  • Creating greater market share

Even more, with e-commerce booming at the moment, more people are expanding their small businesses into international markets through online selling platforms like Amazon and eBay. Continue Reading

Figuring Out your Company’s FX Requirements

There is no crystal ball that can accurately tell you the future of where a currency will trade in the short, medium or long-term.

When looking to partner with an FX provider, your first priority should be to evaluate the payments your business has made previously in order to get a better idea of the FX products and services that will best fit your business’ needs. And, when selecting a provider, make sure they understand your industry and the jurisdictions you are making payments to. Continue Reading

The 5 biggest forex myths you need to know

Whether you’re a forex pro or a total newbie, it can be hard to tell the fact from the fiction when it comes to making an international money transfer.

The list below outlines some of the biggest myths in the world of forex, so you can steer clear of the hype and make an informed decision about your transfer.

Myth #1: Forex is a short term strategy

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6 factors influencing exchange rates and what you can do about it

Foreign exchange rates are an important way of measuring a country’s economic health, and a great way to assess the suitability of an economy for business expansion. This is why the exchange rate markets are so closely watched.

But what influences movements in exchange rates? And more, what makes them ‘volatile’? That word gets thrown around a lot in the foreign exchange space, but what does it mean? Continue Reading

How to protect your business from foreign exchange exposure

Foreign exchange exposure refers to the risk a company undertakes when making financial transactions in foreign currencies.

All currencies can experience periods of high volatility which can adversely affect profit margins if suitable strategies are not in place to protect cash flow from sudden currency fluctuations. Exchange rate risk can usually be managed through effective, preemptive hedging. Continue Reading

Manage Your Currency Exposure and Protect Against FX Risk

When it comes to running an import or export business, or making payments to overseas suppliers, having an international money transfer service provider like XE in your “corner” makes for a great tag team.

XE helps you stay focused on your core business objectives, like:

  • Building your merchandise, raw material or component inventories
  • Managing supplier, employee, and customer relations
  • Processing orders and creating efficiencies in your supply chain
  • Continue Reading

Why it’s important to shop around for an FX provider

The final ACCC report of the Foreign Currency Conversion Services Inquiry found that Australian consumers are paying too much in foreign exchange services as a result of confusing pricing and a lack of robust competition.

The report found that consumers often struggle to make informed decisions about alternative providers and use one of the ‘big four’ banks for foreign exchange despite the availability of much cheaper services. Continue Reading

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