Foreign payments strategy for international businesses

When you pay foreign beneficiaries in dollars you expose them to currency risk, and to counteract this many foreign companies build a buffer into their invoices. To help reduce unnecessary costs for your business you should consider paying in your supplier’s local currency.

When you pay foreign beneficiaries in dollars you expose them to currency risk, and to counteract this many foreign companies build a buffer into their invoices. To help reduce unnecessary costs for your business you should consider paying in your supplier’s local currency.

These handy insights will help you gain an understanding of the process for paying in local currency, while minimizing the amount of currency risk that both you and your suppliers are exposed to.

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