Influence of the Currency Exchange Rate Fluctuation on Your Income
Thread poster: Mark Xiang

Mark Xiang
Local time: 16:55
English to Chinese
+ ...
Jun 9, 2005

Recently, EURO has depreciated quite a lot. This has cut down my EURO income by nearly 10%. My points are:

How about you?

What will you suggest we should do?

What's your view on the future trend of EURO, or the future of EURO?

Any input is highly appreciated.

Mark


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Mary Lalevee  Identity Verified
United Kingdom
Local time: 09:55
French to English
Euro Jun 9, 2005

Hi,
this has also affected me. I don't think we can do anything about it - I have enjoyed higher income for the past three years as the euro was high against the pound, so I think we just have to put up with it for now.

I think it will stabilize again once all the kerfuffle about the referendum has died down.

Hope so anyway!

Mary


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Samuel Murray  Identity Verified
Netherlands
Local time: 10:55
Member (2006)
English to Afrikaans
+ ...
One scary example... Jun 9, 2005

Mark Xiang wrote:
Recently, EURO has depreciated quite a lot. This has cut down my EURO income by nearly 10%.


Since I'm a salaried freelancer, I don't really feel the sting of fluctuating exchange rates, but I have a story to tell about it nonetheless:

I once did a rather large translation for an American company. At that time the exchange rate was USD 1 = ZAR 14. I expected to make about ZAR 16 000 in total (three times my monthly salary) on that single job. The client didn't pay for a long time, and then the unpredictable thing happened: the ZA currency dramatically improved against the US dollar (the US dollar also took a knock, though). When the client finally paid, the exchange rate was USD 1 = ZAR 7. I quoted in USD, so there was nothing I could do about it but try to smile. Even if the client were to pay interest for late payment, it would never have made up for the halving.

On the other hand, remember who your competitors are. If they're also invoicing in currency X, then you'd make yourself less competitive by raising your rate or by changing preferred currency.


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Evert DELOOF-SYS  Identity Verified
Belgium
Local time: 10:55
Member
English to Dutch
+ ...
Aren't you complaining a bit too soon? Jun 9, 2005

The USD exchange rate is back to its October 2004 situation and I remember myself complaining about the low USD then...

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Gillian Searl  Identity Verified
United Kingdom
Local time: 09:55
Member (2004)
German to English
I was looking for long term currency graphs Jun 9, 2005

My feeling is that we have changed back to the end of 2004 as well. Anyone know where we can see long term graphs indicating currency changes? I have been looking for them but haven't found them yet.

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Evert DELOOF-SYS  Identity Verified
Belgium
Local time: 10:55
Member
English to Dutch
+ ...
I use Oanda Jun 9, 2005

Gillian Noameshie wrote:

My feeling is that we have changed back to the end of 2004 as well. Anyone know where we can see long term graphs indicating currency changes? I have been looking for them but haven't found them yet.


Here's one of the converters I use, including fx history:
http://www.oanda.com/convert/fxhistory


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Mark Xiang
Local time: 16:55
English to Chinese
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TOPIC STARTER
It Seems to Me that European Unification Program Has Met Big Problems Jun 9, 2005

Evert DELOOF-SYS wrote:

The USD exchange rate is back to its October 2004 situation and I remember myself complaining about the low USD then...


So it is really not just an currency rate fluctuation. And what I am talking about are my regular clients. My rates were based on the exchange rate of EURO1.00=USD1.30. They choose to pay me in EURO because it is more convenient for them, not for saving money. They would be happy to pay me with the USD rates when EURO1.00=USD1.30. The problem is that I do not know if I should raise this issue, or how I should raise it.

Mark


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Dan Schioenning Larsen
Romania
Local time: 11:55
Member
English to Danish
+ ...
x-rates Jun 9, 2005

Evert DELOOF-SYS wrote:

Here's one of the converters I use, including fx history:
www.oanda.com


On http://www.x-rates.com they present the history as graphs too, which can give a quick overview at a glance.

I had to edit the quote because of the / symbols...

[Edited at 2005-06-09 16:12]


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