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International Business Basics by Scott L. Girard

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Currency Fluctuations and Cures

A mix of smart practices and patience is called for inthe currency game. A lot is out of your control.

IN INTERNATIONAL BUSINESS, one of the most critical elements that you need to manage is the home currency you use and its fluctuations relative to other currencies in which you transact business. If your business is founded in the United Kingdom, your home currency will be British Pounds (GBP), but as soon as you do any business with Euro countries, you’ll be involved in currency exchange issues.

When I travel to other countries, I’m not that concerned about the exchange rates for food and lodging, etc. (except to feel I’m either getting gypped or getting terrific bargains, compared to my US dollar base!) Yes, ...

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