Back to News releases

BUSINESS IMPORTERS CAN TAKE THE STING OUT OF EXCHANGE RATE FLUCTUATIONS

Raphaels Bank currency monitoring service helps importers maximise profits

With the Pound remaining so strong against the US Dollar, import businesses need to make the most of the market rate to protect their profit margins. Raphaels Bank, commercial foreign exchange rate specialist, enables businesses to lock in a rate of exchange in advance for delivery of funds, allowing them to accurately forecast budgets, price lists and profit margins.

Exchange rate volatility makes it hard for businesses to avoid fluctuations which impact on their profits. Raphaels Bank helps importers to manage the risk associated with currency exchange, protecting their bottom line.

“With clients across a variety of different industry sectors, Raphaels Bank offers bespoke foreign exchange services to help avoid the risks faced by SMEs engaged in international trade,” explains Mike Smith, Group Director of Marketing & Strategy. “Our tailor made service means we can cater for the specific needs of our clients, allowing them to fix on a favourable rate and maximise profits. This means they can see how much a total order or shipment is going to cost, providing the means to predict profits and budget.

“Our currency monitoring service provides clients with up-to-the-minute market information and rate indications specific to the currencies they work with. We can help companies fix a rate when the market is in their favour, as well as protecting them from world events that could have a negative impact on the currency of their choice and most importantly, their business.”

For further information about foreign exchange market news, please contact CFX department on 0800 587 8722