Under the new partnership, Efic will guarantee foreign exchange facilities offered by AFEX to exporters, enabling the foreign exchange specialist to increase the trading limit for clients. With increased limits, those clients will be able to protect more of their export contracts and better secure profit margins.
A foreign exchange facility can help exporters protect themselves from exchange rate fluctuations by locking in exchange rates and allowing them to hedge their currency exposure.
“We’re delighted to have agreed to this partnership with Efic," said
AFEX continues to grow rapidly in
Measuring the effect of AUD currency volatility
The AUD USD currency pair regularly has moved more than 15% from the high to low during the last twelve months, more than enough to wipe out profit margin for many export businesses should they not put in place a hedging strategy.
For example, an exporter who took an order for
AFEX offers a range of solutions, such as locking in the exchange rate payable on future transactions, giving the business certainty as to its profits and the margins achieved.
Established in 1979, AFEX is a leading global payment and risk management solutions provider that specializes in cross-border transactions and provides market expertise and unrivalled customer service for businesses and private clients. With a client base of over 17,000 active commercial customers worldwide, AFEX prides itself on tailoring its payment and foreign exchange services to meet its clients’ needs. AFEX’s online payment platform - AFEXDirect provides clients with one consolidated overview of their currency exposure and makes it easy for companies to manage international invoices. AFEX maintains offices across
To find out more, please visit www.afex.com.
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