Mobile menu

How do you handle varying exchange rates...?
Thread poster: Vincent MAELSTAF
Vincent MAELSTAF
Local time: 23:20
English to French
Jan 19, 2003

... and more specifically, how did you reflect -or provide for in advance- the steady depreciation of the US dollar against the Euro over the last 18 months. (For those translators based in Euroland and working mostly with US clients of course.)



Thanks.



Vincent


Direct link Reply with quote
 
Klaus Dorn
Local time: 01:20
German to English
+ ...
Turkey is a classic! Jan 19, 2003

Talk about changing exchange rates you have to be a translator in Turkey - here the exchange rates change every day and by quite a bit.



Basically, one needs to agree on the central bank rate of a particular country (ideally the one you\'re based in) when the translation is due. Otherwise, if you agree to the rate at payment date, you might lose out. Of course, it works both ways...


Direct link Reply with quote
 

Gillian Searl  Identity Verified
United Kingdom
Local time: 22:20
Member (2004)
German to English
Exchange rates Jan 20, 2003

When I set rates I start from a GBP base - that\'s where I\'m living - and use http://www.oanda.com/converter/classic to convert to other currencies. I keep a list of current exchange rates for my bookeeping. As I do most of my work in EUR I keep a close eye on the exchange rate and make changes as necessary. When money comes in I check to see if my estimate is accurate or not. If it changes to my advantage I change it quickly if it goes the other way I\'m rather slower . I use the converted figure for bookkeeping. One thing I don\'t do is change the price I charge agencies regularly - they don\'t like it. I\'ve often wondered what the tax man would think about the various currencies but I don\'t tell him and so far he hasn\'t asked!

Direct link Reply with quote
 


To report site rules violations or get help, contact a site moderator:


You can also contact site staff by submitting a support request »

How do you handle varying exchange rates...?

Advanced search


Translation news





LSP.expert
You’re a freelance translator? LSP.expert helps you manage your daily translation jobs. It’s easy, fast and secure.

How about you start tracking translation jobs and sending invoices in minutes? You can also manage your clients and generate reports about your business activities. So you always keep a clear view on your planning, AND you get a free 30 day trial period!

More info »
Anycount & Translation Office 3000
Translation Office 3000

Translation Office 3000 is an advanced accounting tool for freelance translators and small agencies. TO3000 easily and seamlessly integrates with the business life of professional freelance translators.

More info »



All of ProZ.com
  • All of ProZ.com
  • Term search
  • Jobs