I have a friend starting a business in engineering services and will be earning his fee income in $US over the next 12 months or so. He is, however, concerned about the potential currency risk (i.e. $US falling against $A and others). He's also got people working for him from the UK, so he needs to hedge the pound cross rates as well.
Can anyone provide some info on how to put in place the currency hedges?
- Who are the providers?
- How much do they cost? Application? Interests? Deposits?
- Is there a minimum amount requirement? The total sum is not huge, probably ~$US100K or so being paid monthly for 12 months. Needless to say people working for him would like to be paid monthly in their local currency.