Manage and make money with foreign exchange
If you have an investment offshore, travel or send money to relatives abroad you will be accustomed to handling and exchanging currencies.
The price you pay for each transaction will be impacted by movements in the currency you are converting and most importantly, the provider you use to handle the transaction.
For investors, managing currency exposure within a portfolio is an important part of a wealth management plan. It can both protect and enhance returns while improving risk management.
While the foreign exchange market has its own lexicon of terminology for most people it can be navigated easily and transactions managed with a mobile device. It is the cost of the transaction that requires the most attention.
Whether you use foreign exchange while on holidays or as an investment tool it will help to become familiar with how currencies operate by understanding why currencies move up and down in value and how providers determine the rate to charge for a currency transaction. It’s easy to get the basics and this guide will expand on those subjects.
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