As the Australian Dollar strengthens and foreign exchange rates remain unstable, doing business overseas can involve more risk.
Foreign exchange risk is where the profitability of your business is impacted when overseas currency changes occur. If you are an importer or exporter of goods, it is important that you plan for this type of risk.
A fact sheet has been developed by the Victorian Government and CPA Australia to help your business manage its foreign exchange risk. This free information has been designed for businesses to:
- understand the risks of doing business with foreign currency
- identify foreign exchange risk in your business
- measure the potential impact on profits
- minimise risk
To ensure that your business is ready for importing and exporting, read the fact sheet on the CPA website.
You can also see our topic on importing and exporting for more assistance.
