Glen Foster Tracey Stream Sharon Wolverson David Tuck

Proactively Manage Currency Risk

A session with Glen Foster , Tracey Stream , David Tuck and Sharon Wolverson

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About this Session

Have you been wondering how you can scale with Xero while managing currency risk, instead of having to migrate to an ERP system? We've got the webinar for you.

Part of our series, Building an Enterprise-Level System with Xero. You might think you're outgrowing Xero. But this series proves that if you know what’s available, Xero and its app ecosystem can prevent the need to install a complex and expensive ERP system.

Join us and our treasury management partner, Hedgeflows, on Monday, 18 Sep 2023 11:00 - 11:30 BST for top tips on how to level up your treasury management game and successfully scale your business with Xero.

What to expect:

  • Exploring the pains treasury management manifests for larger Xero users
  • Real-world experiences from finance leaders who have grappled with these issues themselves, Sharon Wolverson and Tracey Stream from KTL.
  • Solutions from a Xero app ecosystem expert
  • Plus actionable insights from Hedgeflows’ Glen Foster.

We'll be diving into the nuances of currency risk in today's global market. Explore how you can proactively manage and navigate foreign currency finances, ensuring you're always a step ahead in the ever-changing world of foreign exchange.

Q&A from the live webinar

Q1: There has been a lot of talk about China looking to make more transactions in RMB going forward than USD. Indonesia also would like to reduce its USD reliance. How do you handle risk around the "exotics"?

A1: HedgeFlows Team: Chinese Renminbi (RMB) has long become one of the most frequently traded currencies globally and, for all practicalities, has lost its “exotic” status. The recent talk indeed highlights China's intentional move away from the US dollar reliance and some other countries, but China has been pursuing the “internalisation” of their currency for almost a decade. RMB is now one of the most traded currencies in the world - after US dollars, Euros, Japanese Yen and Pounds Sterling and ahead of other “developed” currencies such as Australian and Canadian dollars, for example (according to the data from the Bank of International Settlements). While China has kept certain currency controls (mainly to prevent capital outflow from the country), paying Chinese suppliers in their currencies is certainly a viable option and managing currency risks of RMB can be done in the same way as most other currencies. As for other, more “exotic” currencies (South African Rand or Indian Rupee) - their risk also can be managed in a manner similar to developed currencies or, in some cases - using so-called non-deliverable forwards. 

18 September 2023, 11:00 AM

11:00 AM - 11:45 AM

About The Panel

Glen Foster

Glen Foster

Advisor, HedgeFlows

Tracey Stream

Tracey Stream

Accounts Assistant, KTL UK Limited

David Tuck

David Tuck

Co-Founder & CEO, Mayday

David Tuck

Sharon Wolverson

Sharon Wolverson

Finance Manager, KTL UK Limited


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