Companies that are usually importers should be prepared for this unexpected behavior of the company. US currency.
LucasValencia, CEO of Ultimate Technology SAS, explained that one of the actions the company needs to take when importing is to prepare for exchange rate risk, and it consists of entering into a commitment between two parties to sell an asset at a fixed price to buy and sell on a specific date. date. .
“This technique will undoubtedly help protect cash flow against dollar swings in complex or uncertain times, requiring companies to identify how much of their revenues, costs and expenses are in dollars,” said Valencia.
At the same time, Yanika Barrios, G.Business banking manager Bancolombiaindicated that customers should be focused on their core business and avoid distractions by falling into the speculative trap.
“Financial tools such as a forward contract allow them to control costs and/or monetize their sales with revenue control. Leaving these variables without cover is like sailing without a compass,” the expert said.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.