Buying currency for business - Doing business in other currencies

Here at exchange rates guide we seek to explain how you can get the best deals around when buying foreign currencies, from getting the best holiday money rates to managing your company’s currency exposure. We look at the best deals on the high street and also the alternatives to the high street banks for larger purchases or sales of currency in a bid to save you hundreds of pounds in the process.

Best Exchange Rates on Travel Money

For most of us the only time that we involve ourselves in the foreign exchange market is by buying our foreign currency when we go abroad. For one off transactions for under £5000 your best option is to either visit a company on the high street or order your currency online.

Here we look as the best foreign exchange rates for both the high street and ordering online.

Large Purchases and Regular Payments Abroad

When making large purchases abroad, such as houses, banks can often charge you the “tourist rate” the rate used for selling holiday money. This can result in you paying hundreds, if not thousands in extra charges. We look at the best alternatives to using the banks such as foreign exchange brokers to see what the best deals around are.

Managing Currency Risk

 In a global economy we often have to do business abroad, such as exporting our goods and services around or importing goods or raw materials. With payment terms being anything from a few days to a few months this leaves businesses open to currency risk, which is when a price is agreed at a certain date and price only for the exchange rate between the two party’s currency to change before the settlement date. In this section we look at how companies can take action to avoid this risk securing their cash flows.

Best Rates on the High Street

	Min for delivery	Max delivered	£100 buys you
	£100	£2500	(EUR)113.43
	£400	£2500	(EUR)113.07
	£500* free delivery	£2500	(EUR)112.43
	£100	£2500	(EUR)113.65
	£500* free delivery	£4999	(EUR)113.19
Thomas Exchange Global Ltd	£100	£2500	(EUR)114.50
	£100	£2500	(EUR)109.58