Why should my business consider locking FX rates?
Locking FX rates lets your business fix today’s forward exchange rate for a future international payment—up to 6 months in advance. This gives you cost certainty, shields your profit margins from currency fluctuations, and gives you more control over costs when making recurring international payments like payroll, supplier payments, intra-company or loan installments.
This kind of forward foreign exchange strategy is especially useful for businesses that value predictability in cash flow.
Related FAQs
Why partner with Corpay for locking in FX rates? If I lock in a rate and a better one comes up later, can I switch? Is there a fee for locking FX rates? How does locking an FX rate work? What’s the difference between FX hedging and forward contracts? Why partner with Corpay for locking in FX rates? If I lock in a rate and a better one comes up later, can I switch? Is there a fee for locking FX rates? How does locking an FX rate work? What’s the difference between FX hedging and forward contracts?Didn’t find what you were looking for?
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