England – 15/03/2012 – Few people in the UK realise what a big impact exchange rates have on their day to day lives
Many people do not give much thought to exchange rates. They are aware of the exchange rate and the fact that they indicate how strong or weak a currency is, but that is about it. Apart from considering the exchange rate when they deciede where to go for their holidays, very few people give a second thought to exchange rates. However, perhaps they should because exchange rates have a big impact on everyone’s day to day life.
The reason for this is that the exchange rate has a direct impact on how much you pay for goods from abroad. When you consider that a significant proportion of the goods we use every day come from abroad you can see that the exchange rate actually affects most of us every day. Even products made in the UK are usually made using raw materials sourced from abroad. Day to day fluctuations are not really passed onto the consumer, but when the exchange rate is poor for long periods of time the cost of goods does begin to rise as a result.
The other hidden impact the exchange rate has on our lives is the impact it has on job security. When the pound is weak it is far easier to sell our products aborad and foreign investment increases, as a result so does job security. However, when the pound is strong the opposite is true.
Exchange rates affect some people more than others
Sadly, there is litte private individuals can do about the exchange rate. Luckily, UK businesses are aware of how changes in exchange rates impact them and work to turn these fluctuations to their advantage wherever possible.Those firms that buy their raw materials from abroad, employ people abroad or export their goods abroad use specialist foreign exchange firms to help them to do this.
More and more businesses are turning to exchange firms like FC Exchange who offer the best exchange rates and charge low fees for their services. UK firms are using their flexible service to carry out large transactions when the exchange rates are in their favour and are saving thousands by doing so.
FC Exchange Head Office
88 Wood Street, 10th Floor
Tel : +44 (0)20 7989 0000
Freephone : 0800 783 4313