Home topics finance finance-cash-flow Cashflow Cashflow Playing the Currency Game Guest Author August 20, 2007 Foreign exchange is one of the most volatile markets in the world, with millions of participants across the globe exposed to currency fluctuations 24 hours a day – Jim Vrondas suggests a couple of solutions for businesses to stay one step ahead. In the foreign exchange market, just about everyone is attempting to do the exact same thing: get the best exchange rate possible on their currency transfers. That means timing the transfer to coincide with the absolute highest price in the market at the time, which can be quite a difficult, if not impossible, task. Many business owners spend far too much time glued to the computer screen watching the market move every second, and attempting to predict future movements. These are the same people who make very important decisions for corporations and are often swayed by emotion and tempted by risk, just like any of us. It’s important to remove oneself from the emotional attachment and not let these feelings drive our actions. Businesses should always have a plan that allows them to take advantage of any positive fluctuations when they’re not watching the market, especially given most of the volatility in foreign exchange rates occurs during European and US business hours. Many small business owners often feel disappointed at having missed out on a good exchange rate overnight, while they’ve been asleep. Take, for example, Harry who works for Hindsight Manufacturing. Harry