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This is a Bidvest Bank promotional feature
From a rand and foreign currency perspective the twin keys
for importers and exporters are timing and the exchange rate. The factors are
so crucial that executives engaged in foreign trade often devote a great deal
of time and energy to watching the markets for the perfect moment to press the
‘Transact’ button.
It’s understandable, but not normally necessary. Usually,
executive time is better spent by sticking to day-by-day business in the
executive’s core area of their business, be it in manufacturing, trading or
distribution, or others.
Once an importer or exporter has a solid relationship with a
trusted provider of corporate foreign exchange services timing and
rate-watching can be left to the specialists.
Bidvest Bank has relationships with corporate foreign
exchange clients going back for more than a decade.
Clients like these frequently delegate these timing and rate
responsibilities to the bank by setting out transaction parameters,
establishing stop-loss provisions and by notifying their ideal ‘transaction
rate’.
As these key requirements are known in advance, the Bidvest
Bank dealer room can maintain a watching brief for clients, who will be
notified when the rates are moving in their favour and a timing opportunity is
opening up.
Armed with this information, clients can then decide whether
or not it’s time to transact.
At Bidvest Bank, importers and exporters can also make use
of the Global Payments Online™ (GPO) platform by sending in a quotation
request. Rate information will be supplied instantly – cutting out the need for
daily scrutiny of the markets. GPO also watches market trends and provides
regular daily and weekly reports.
The right moment and the right rate are crucial in the currency markets – so is the right banking partner.
