FOREIGN EXCHANGE & RISK MANAGEMENT ? ? TFIA blog

Presented by Western Union Business Services in partnership with TFIA

Whether you?re a company that imports from foreign suppliers or you export your product overseas, adverse movements in exchange rates are a risk of doing business in international markets.

For example: as an exporter you may pay your suppliers in Australian dollars but receive payment for your exports in US dollars.? In this scenario, unfavourable shifts in the exchange rate of the currencies may affect your profit margin.? To help protect the Australian dollar value of your overseas exports, you may therefore use a foreign exchange facility to lock in exchange rates and allow yourself the opportunity to ?hedge? your currency exposure.? The more of your export sales you can hedge, the greater your control over your foreign exchange risk.

In July this year, Western Union Business Solutions and the TFIA formed a partnership with the objective of supporting Australian fashion and textile businesses.

In this first Partnership Event, we will explore the international trends that influence the Australian markets and provide insights into what the best performing companies in the fashion and textile industry are doing to protect their profit margins.

This event will cover:

• Foreign Exchange ? from the GFC to 2012 and what the future holds
• Risk Management ? what are the best performing companies doing differently
• Paying Chinese beneficiaries in Chinese Yuan (CNY) ? the emerging trend that has changed doing business in Asia
• Where Western Union Business Services can help in :

-??????? Timing payments effectively

-??????? Booking market orders over Christmas &

-??????? Implementing risk management strategies

• EFIC, the Export Finance & Insurance Corporation ? a Government initiative to help Australian businesses thrive in overseas markets.

This valuable event will take place at the Textile & Fashion Hub on from 5pm to 7pm on Thursday 18^th October and includes networking drinks as well.

To register, go to:? http://foreignexchangewesternunion.eventbrite.com.au

Tagged TFIA, Textile, Textile and Fashion Industries of Australia, fashion, Western Union Business, Western Union, fashion and textile businesses, business, Foreign Exchange, risk management, payment, market orders, export, export finance

Posted by tfiablog on October 6, 2012

http://tfiablog.wordpress.com/2012/10/06/foreign-exchange-risk-management/

Source: http://tfiablog.wordpress.com/2012/10/06/foreign-exchange-risk-management/

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