Inter-office transfers

Inter office transfers

We are increasingly dealing with offices that have no foreign currency exposure except for payments to a head office in another part of the world.

These can be ad-hoc payments made as and when head office requests them or on a more structured basis.

For the more structured payments, a set monthly payment, a forward contract could be put in place at a time when the rate is favourable.

Something this simple could save hundreds or even thousands in exchange rates.

An example.

A European IT office based in France is required to send $10,000 per month to the US head office.

This is a recurring payment and if the rate was favourable the French office could book a forward contract.

Therefore knowing exactly how much is being sent to the US in Euro terms every month for a specified period.

With the fluctuations in currency rates, this not only helps with budgeting but also offers peace of mind.

If your company is sending payments we can save you money,  feel free to contact us to discuss your requirements.

Summary
Inter-office transfers
Article Name
Inter-office transfers
Description
We are dealing more and more with offices that have no foreign currency exposure except for sending payments to a head office in another part of the world.
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Publisher Name
AJP Currency Solutions
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