A good Currency Management Plan (CMP) is critical to the sound risk management for any business and is paramount to ensure the successful implementation of a currency risk management strategy.
Most small to mid-sized companies operate without a Currency Management Plan. Decisions are often made ad-hoc and generally without any consistency, accountability or gauge to measure effects. The absence of a plan, and resources to execute one, often has the effect of mismanagement of an exposure leading companies to believe that the policy to do nothing is the best for them. But ignoring the risk won’t make it go away.
Castle Currency Management will fully develop, or assist your company to develop a CMP that can be successfully implemented. Rules, guidelines and procedures are developed and followed. The CMP can be used to improve or establish the company currency risk management policy. With a Currency Management Plan, tailored to your company you will be more aware, proactive and in-control of currency risk.
"Denial is common tactic..."
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Business Risks Companies Face
"What types of risks can currency movements cause to a business?"
Currency Movement Risks
"What different types of currency movements should I be concerned of?"
"You may already have strategies to manage your risk, see why Castle Currency provides effective strategies which can add to your existing ones"
Conversions - Best Rate
"you can capture a significant amount of money by improving the rate you get for conversion – let us help"
"It is important that you are managing the proper risk amount. We can help ensure it is neither too much nor too little"
"Do you know what effect a significant currency move would have on your bottom line? We will show you then help you do something about it"
"Have a third-party review your internal operations, it removes potential conflict and provides objectivity"
Currency Risk Management Plan
"Could you benefit from a Currency Risk Management Plan?"
Centralized Foreign Exchange
"Do you have one division buying USD at the same time another is selling?"
"Could your team benefit from more knowledge of currency risks and how to mitigate them. We would love to show them how"
Budgeting Currency to Margins
"Does it not makes sense to customize your currency risk management strategies to meet your margin expectations and limitations?" We strongly believe it does "
Fully Managed Services
"We watch the currency markets 24 hours a day – why not focus your time on your core business?"
"How can you be sure you are effectively managing your risk?"
"Do you know what your risk is at any given time? Shouldn't you?"
"Hire professionals who are experts at managing currency risk. Be aware of the difference between one who takes orders and conducts trades compared to one who analyzes not only the market but your specific business.
What is the worst-case scenario for your company right now?
"Denial is a common tactic that substitutes deliberate ignorance for thoughtful planning."
Currency Risk Management Plan
Developing an effective Risk Management Plan is an important part of any project
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