Foreign Exchange Concerns Grow as Maine Expands International Trade

Lori Valigra

Source

Mainebiz

Date

5-4-2015

Pages

1, 22-24

Abstract

While the current strength of the U.S. dollar benefits tourists traveling overseas, for businesses large currency fluctuations can cut into their revenues and competitiveness. Managing what businesses call, the foreign exchange risk, also referred to as “forex” or “FX,” varies from a company not acting because measuring the risk is not precise, or believing that market forces will even out, to actively hedge risk with sophisticated strategies. Some of the strategies Maine businesses (Sterling Rope Co., Inc., WEX Inc., KICTeam, Inc., Soleras, and One Source) use to mitigate foreign exchange risk are profiled. The article includes a special feature, “Taming Foreign Exchange Risk” by attorney Adrian P. Kimball that explains some of the exposures and tips for managing foreign exchange risk.

Subjects

Foreign exchange rates, Prices, Money

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