Whether importing blueberries from Peru , avocados from Mexico , or strawberry from Egypt ; Jerome de Graaf of StoneX see that financial transactions are still very often pay up in the ' major ' currencies such as the euro and dollar . " Then you think you have made a good deal , but money is left on the line due to conversion costs because one is completely at the mercifulness of the whims of the local bank . When I see how close margins are in the AGF sector , it is very terrible when you have to lose a few per cent directly like that . That can think the difference between net and loss . "
correspond banking networkStoneX specialises in so - called transversal - border payment to less vernacular currencies . " One of our enduringness lie in in our comparable bank mesh . When you want to convert currency , there has to be an exchange at all time . By no mean value can every savings bank do that . When they do n’t have that relationship , they have to look for a bank that can . We have a direct relationship with local banks in Africa , Asia and Latin America to offer the good exchange rate in the local currency at all time and make payments on the correct currency engagement , " Jerome says .
" We now have 30 year of experience in minutes to come forth markets . As a result , we now make payment in over 140 currency to 180 countries . Besides international banks , many large-hearted foot also use our connection , but more and more food importers and exporter , include the impertinent produce deal , know how to find us , " says StoneX Global Payments aged sales manager Benelux .
He pick up interest increase as there are big fluctuation in the foreign rally market place . " The moment volatility increases , company are more concerned in fudge their currency risks . Last class , when the euro attain mirror symmetry with the dollar , there was a lot of upheaval in the market . consistent , because if you agreed a dollar bill Mary Leontyne Price of 1.05 with your provider and the euro - dollar exchange rate goes 1 - to-1 , you suddenly have to devote five centime out of scoop .
" Thanks to our free-enterprise banking internet , we let local banks contend on a currency . As a outcome , we always have the sharpest rate from the food market . Another vantage is that we get the money into the supplier ’s news report promptly . Our service is also transparent . client know in advance how much their supplier is give-up the ghost to receive lucre , and one does not face unexpected costs . "
Local entity in BrazilOne country where service extend even further is Brazil . " Here , we have launched our own entity , appropriate us to facilitate entrepreneurs with both inward and outward monetary resource . This allows us to ' onboard ' local payments and outgrowth transactions from Brazil to Europe . Very few company can do that at a favorable interchange charge per unit . StoneX Global Payments now has almost eighty place on six continents , " Jerome says . He also see many opportunities for outgrowth on the African continent . " Mainly because of the infrastructure , Dutch enterpriser are loath to clothe in Africa , while the continent is specially interesting to trade with because of the theodolite fourth dimension . "
" We also deploy our services for local defrayal in emerge market , such as for companies that have a production adroitness , where payment have to be made with the local currency for maintenance , machinery and labour , for instance . Now these transactions are still very often done in euro and only afterwards converted to the local up-to-dateness . By paying in local up-to-dateness , this can easily save 1 to 4 % . Therefore , look carefully at your costs in local currency and euro when you request an invoice , and feel free to request a rate from us ! "
For more information : Jerome de GraafStoneX Global Payments[email protected]https://payments.stonex.com/
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