We use Central FX due to the level of personal service they offer. Alongside competitively priced rates, they are proactive, informing us of developments in exchange rates as they happen. This benefits our business and saves us money. We place a high value on having a personal relationship manager alongside the online platform.
As a leading manufacturer and UK supplier of door automated systems, Label UK were experiencing business growth while working closely with their bank on FX. As time progressed, they realised that they had no knowledge of how to protect themselves in a falling market, nor how to fix costing levels, and their bank couldn’t provide the help they needed.
Financially, this presented a great deal of concern, particularly as the business envisaged further growth in the future. Label UK needed a greater level of professional insight with the added capability to introduce new processes that might help.
They were looking to protect both their budget and their profit margins, which meant gaining the right level of support and expertise became essential to their operation.
Central FX introduced Label UK to forward exchange contracts and explained how they can be used to prevent exchange rate losses on future purchases.
Taking on this special type of foreign currency transaction meant that Label UK could agree with their second party to exchange two designated currencies at a set time in the future.
This approach helped to dramatically increase efficiencies, enabling a new contract that performed well alongside their business and helping Label UK to successfully achieve their objectives.
As a direct result of approaching Central FX, Label UK were able to make more informed choices on when to purchase.
They were also able to remove a significant variable from their costings by implementing a forward exchange contract.