Hi Skipperx,
I really appreciate your input. We have seen some drastic fluctuations the last few months and it’s been hard to handle.
No I did not previously have any forward currency positions.
Primarily because I did not have sufficient capital to do so and secondly because the amount I was importing was not justifying making such a move. However now things have changed and both the amount I am importing has increased and so has my available capital – so I have begun looking into taking some forward positions.
My only concern is that although I get a stabilized rate I lose the possibly of upward gains and I have hoped that our currency would be more closely in keeping with our current account/terms of trade rather than interest rates due the continued high rates we have compared to most other countries.
However I am very new to the forex markets so I am still learning. Unfortunately it is a painful learning curve! :-)
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