As business becomes increasingly global, especially where products are sourced for retail, the issues surrounding foreign exchange management become ever more pressing. While many retailers only buy and sell in sterling, the effects of currency changes will be an issue for manufacturers and distributors and by extension, retailers too. Anyone watching the slide of sterling in the run-up to the Brexit vote in June 2016 will have seen import prices rise while exports became more competitive. And the same happened as the UK went into lockdown in March 2020. So how does the currency process work and what can be done to fix a commercial exchange rate…
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