Beware the soft option
REAL-LIFE PROBLEMS, INNOVATIVE SOLUTIONS
Background: When a young health food importer with limited experience of the foreign exchange market decided to embark upon a multi-million euro stock purchase in October 2004, it did what many other companies in a similar position do and approached his business bank for advice.
Conscious of its desire to be cautious with its funds, the bank steered him towards a 'zero-cost' currency transfer option, which seemingly offered it the dual benefit of a guaranteed minimum exchange rate for the
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