Rylan, the Vice-President of Foreign Exchange at Airwallex discusses changes they have observed in foreign exchange markets around the world. We discuss how importers and exporters can devise a strategy to manage foreign exchange risks during the volatility caused from COVID-19 disruptions.
For a global transaction to take place, buyers and sellers must first negotiate and agree on terms of supply of goods which will be included in detailed Proforma Invoices, Sales Contracts and Purchase Orders. When the agreed terms are met, buyers make International deposit and balance payments to their suppliers. Rylan discusses how Airwallex provides new software technology for buyers and sellers to collect, convert and transfer money in multiple currencies around the world.
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