These sales managers are trying to sell nonsense about forex to us ordinary folks. Forex will not change the day to day price of things because any company worth it’s salt is buying Forex Forward Cover (i.e. buy forex now but pegged at a certain exchange rate, used in trade worldwide) so they can properly cost their imported goods. In other words, the price of imported goods cannot just jump around so quickly because the forex which they bought ahead of time at a certain exchange rate is known to them at least weeks if not months in advance. They are just trying to make more money by marking stuff up even more when they can and blaming the exchange rate. (I used to work in international trade for a good number of years and these money grubbing corporates still make me sick)
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These sales managers are trying to sell nonsense about forex to us ordinary folks. Forex will not change the day to day price of things because any company worth it’s salt is buying Forex Forward Cover (i.e. buy forex now but pegged at a certain exchange rate, used in trade worldwide) so they can properly cost their imported goods. In other words, the price of imported goods cannot just jump around so quickly because the forex which they bought ahead of time at a certain exchange rate is known to them at least weeks if not months in advance. They are just trying to make more money by marking stuff up even more when they can and blaming the exchange rate. (I used to work in international trade for a good number of years and these money grubbing corporates still make me sick)