Forward contracts.

Forward contracts allow you to lock in today's exchange rate for up to two years, making it easier to budget for foreign payments and safeguard your transfers from currency volatility

The forward exchange rate process involves securing an exchange rate for international currency transactions with a payment date that is days, weeks, or months in the future. This is known as a 'hedging' technique, and WorldwiseFX not only provides this service to corporations, but also to individuals who want to arrange their transfers ahead of time.

You can do the following with Worldwisefx:

• Before getting a quote, choose a preferred Conversion Date.Set a rate for a payment date up to a year in advance. Set a rate for a payment date up to a year in advance.
• Keep in mind that currency rates fluctuate regularly and can become more or less favorable over time, so keep this in mind when deciding on a forward exchange rate. However, this strategy is appealing if:
• you want to know how much you'll have to pay in advance In your cash flow planning, you want more clarity and no variables. You don't want to be caught off guard by unexpected shortfalls.