Working with foreign currency
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The fashion and textile supply chain stretches to all parts of the globe. Even passionate UK manufacturers find that they need to purchase raw materials from overseas and our exporters frequently have to sell in currency. Whether you are buying or selling (or both) in currency, understanding foreign exchange in your business can mean the difference between a profitable or a loss-making business.
UKFT is happy to talk to members about the implications of working in currency. We have contacts with most of the national banks and UK Export Finance (the government agency responsible for assisting with larger and complex transactions). Our Forex partner Smart Currency Business can discuss a wide range of business solutions from trade finance and treasury advice, through to funding access.