Your business activities extend to countries outside the eurozone. For example, you import raw materials from China or export products to the UK. As a result, your company deals with cash flows in currencies other than the euro, i.e. US dollars or pound sterling. Because currency exchange rates can fluctuate heavily from day to day, your calculated profit margin or purchasing costs could be at risk once these flows are not properly hedged.
Currency risk management
As a solution, ING provides it’s business relations ING Trade to manage their foreign currency flows and risks efficiently.
ING Trade is an online application that allows you to swiftly and easily conclude currency transactions. After you have approved your transaction, an automatic connection with our accounting systems ensures that your foreign currency accounts are debited or credited on the agreed-upon currency date at the agreed-upon exchange rate.