Your business makes global payments, but have you managed your exposure to currency risk?

Considering international payments can often be a tricky landscape for those tackling it for the first time, coupling standard foreign exchange tools with support in creating a long-term currency strategy is really important for growing businesses today.

But this increased opportunity comes with substantial risk to your future business earnings. This risk is made up of unnecessary costs from foreign exchange providers and potential losses incurred by adverse movements in foreign exchange rates.

But how do you know if your business needs to manage its currency risk?

Does your company:

  • Make international payments
  • Receive international payments
  • Pay overseas employees
  • Have non-domiciled assets in need of maintenance

If so, your bottom line could be affected by exposure to currency risk, causing uncertainty about how and when to make your payments.

So now that you know whether you need to manage your currency risk, how do you take action?

Get in touch: Reach out today to learn how OFX can help you with your money transfer needs.

IMPORTANT: The contents of this blog do not constitute financial advice and are provided for general information purposes only without taking into account the investment objectives, financial situation and particular needs of any particular person. UKForex Limited (trading as “OFX”) and its affiliates make no recommendation as to the merits of any financial strategy or product referred to in the blog. OFX makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this blog.

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