Events within the UK and around the world have the potential to cause exchange rate fluctuations, which can quickly erode any buffer you may build into your calculations when making an international money transfer. For example, when EU Referendum results announced pound sterling dropped 12% against the US Dollar.
Thankfully Hawk FX has a solution, called a forward contract, which will protect against adverse currency market movements by locking in an exchange rate for up to 2 years. For example, when buying an overseas property, your costs would be unaffected if there were adverse movements in the currency markets.
Forward contracts are ideal for situations when exchange rates are volatile, so you do not lose money to unfavourable currency market movements between now and the time you need to make your payment.
The table below shows how small changes in the rates of exchange can cost thousands.
To find out more about how you Hawk FX can help you protect against currency market fluctuations call us at +44 (0)330 380 30 30.