Hi Anna I must say that I love your site. Having working in the financial markets for a few years supplying quote terminals to major brokers, all the terminology came flooding back to me. Quick question. We currently purchase product from Denmark and pay in Krone. The rate has changed from 10.5 to about 9.5 in the past few months and caught us out a bit. What would you suggest we need to do to hedge ourselves against this in the future? Currency options/futures. Should we have, or can we still lock ourselves into a rate of 10.5? Many thanks and regards – Simon
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Dear Simon
Thank you for your email and I am sorry for your predicament. I’ve had a quick look at the charts and the pound looks as though it will weaken further against the DKK so the sooner you hedge or fix rates the better.
Fixing your exchange rate is certainly one option by buying contracts forward and may I suggest you contact Jonathan Sermon at hifx – his email address is: jonathan.sermon@hifx.co.uk – tel no: Tel: +44 (0) 1753 752740. Website is http://www.hifx.co.uk who will be able to assist you in this.
I hope the above helps but if you need any further assistance please do not hesitate to contact me.