Volopa has launched its FX Forwards offering to help clients lock in exchange rates for future transactions, providing stability and predictability around future costs.
An FX Forward contract is a foreign exchange agreement that allows clients to fix a specific exchange rate for up to 12 months for a future transaction. Against a volatile currency market, predicting fees and revenues from international business can be challenging; with this uncertainty impacting margins and financial planning.
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Volopa’s new offering provides stability and consistency, enabling businesses to accurately forecast future costs and protect themselves from adverse currency movements.
With an open forward contract, users can lock in an agreed-upon exchange rate for a specified future date. This allows businesses to convert currency at that rate at any time before the contract expires, providing protection against currency fluctuations and giving companies greater control and visibility over their future costs.
Volopa is also extending its currency offerings for growing businesses’ needs in emerging markets, adding 8 new currencies to its previous offering of 20 currencies, representing a 40% increase.
Currency offerings on Volopa now include key markets such as India, Singapore, Saudi Arabia, the UAE, Qatar, Oman, Turkey and Mexico
Kelvin Veerapen, Head of FX Business at Volopa, said: “In today’s global economy, currency volatility is a significant challenge for businesses engaged in international trade. At Volopa, we understand the importance of stability and consistency for our clients. Our FX Forward Contracts provide a robust solution, putting accurate budgeting front and centre for finance teams, while our expansion of currency offerings supports our clients grow into emerging markets.
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By GlobalData“These two announcements demonstrate our commitment to supporting our clients navigate the complexities of currency exchange and with our 12 month fix, we look forward to helping businesses forecast all their costs with greater control and accuracy.”
