Quoting in foreign currency...

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Quoting in foreign currency...

Post by Disastrous @ Tue May 31, 2011 12:26 pm

Quick q peoples:

What's the norm for quoting in foreign currency, given the fluctuating exchange rate?

Let's say I was pricing something for an Australian customer; would I give them the price in Australian Dollars, based on what the XE.com exchange rate was stating that day, or would I quote them in pounds and let them worry about making sure that they stump up the right amount in dolla when they come to pay? Or something else?
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Re: Quoting in foreign currency...

Post by Turntable @ Tue May 31, 2011 12:30 pm

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Re: Quoting in foreign currency...

Post by Strawman @ Tue May 31, 2011 12:30 pm

Disastrous wrote: or would I quote them in pounds and let them worry about making sure that they stump up the right amount in dolla when they come to pay?


I'd do this, depends on the amount involved but you can get screwed if the currency moves the wrong way, on the other hand the AUS keeps rising, so that could work in your favour if you quoted in Aussie bucks. No help there then, soz.
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Re: Quoting in foreign currency...

Post by Routie445 @ Tue May 31, 2011 12:31 pm

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Re: Quoting in foreign currency...

Post by thekungfury @ Tue May 31, 2011 12:32 pm

Disastrous wrote:Quick q peoples:

What's the norm for quoting in foreign currency, given the fluctuating exchange rate?

Let's say I was pricing something for an Australian customer; would I give them the price in Australian Dollars, based on what the XE.com exchange rate was stating that day, or would I quote them in pounds and let them worry about making sure that they stump up the right amount in dolla when they come to pay? Or something else?

For non-Euro exports I tend to quote in GBP.

They can work out the AUD price now and you have no issues with fluctuations. They can always hedge to secure the price today for when the invoice is due.
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Re: Quoting in foreign currency...

Post by Turntable @ Tue May 31, 2011 12:35 pm

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Re: Quoting in foreign currency...

Post by Disastrous @ Tue May 31, 2011 12:36 pm

Cheers all, seems like quoting in STerling with a patronising "so that's approx. x many dollars" will do the trick...
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Re: Quoting in foreign currency...

Post by Ecks Ridgehead @ Tue May 31, 2011 12:42 pm

I think if you quote in Sterling then you should just quote a price as you would to someone in the UK, but if you want to quote in another currency then you should build in a little contingency to cover currency fluctuations. That's how the company that I used to work for did it.
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Re: Quoting in foreign currency...

Post by thekungfury @ Tue May 31, 2011 12:45 pm

Ecks Ridgehead wrote:I think if you quote in Sterling then you should just quote a price as you would to someone in the UK, but if you want to quote in another currency then you should build in a little contingency to cover currency fluctuations. That's how the company that I used to work for did it.

Or you can hedge.
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Re: Quoting in foreign currency...

Post by Ecks Ridgehead @ Tue May 31, 2011 12:50 pm

TKF wrote:
Ecks Ridgehead wrote:I think if you quote in Sterling then you should just quote a price as you would to someone in the UK, but if you want to quote in another currency then you should build in a little contingency to cover currency fluctuations. That's how the company that I used to work for did it.

Or you can hedge.


I'll hedge your face in a minute!
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Re: Quoting in foreign currency...

Post by Dirk @ Tue May 31, 2011 12:57 pm

Who needs who more? They take the currency risk
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Re: Quoting in foreign currency...

Post by Deuteronomy @ Tue May 31, 2011 12:58 pm

Disastrous wrote:Cheers all, seems like quoting in STerling with a patronising "so that's approx. x many dollars" will do the trick...


Safest bet for sure.
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