24 Nov '11, 1am

The world of wild fiat currency fluctuations....

The world of wild fiat currency fluctuations....

The chart above shows the movement of the Australian dollar vs the US dollar. If you take a closer look, you will noticed that the Aussie dollar is 10% down from one month ago and one month ago on end-Oct it was more than 12% higher than in early Oct. Imagine if you're a US company that closed a contract worth a few million in Australia after months of negotiations with a 10% margin for profits, one month later your profits are are wiped out if you don't hedge your contract in the currency market. If you go through the annual reports of smaller companies listed on the SGX, you find that many don't hedge their contracts. A whole quarter or even one year of potential profits becomes losses due to large foreign exchange movement. The large movement can also affect the competitiveness of a country. If a country's currency falls, it makes companies in the country more competiti...

Full article: http://singaporemind.blogspot.com/2011/11/world-of-wild-f...

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