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situationsbedingte Verzögerungen bei der Devisensicherung

English translation: delays in currency hedging caused by circumstances

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20:48 Apr 1, 2002
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: situationsbedingte Verzögerungen bei der Devisensicherung
context: Lagebericht für das Geschäftsjahr 2001

Entwicklung der Branche:
Über das Jahr hat es die Importbranche allgemein aufgrund des festen US-$ Kurses sehr schwer gehabt, der Kundschaft das höhere Preisniveau verständlich zu machen. Sehr häufig mussten die überseeischen Lieferanten diese Verteuerung durch niedrigere Verkaufspreise ausgleichen.

Umsatzentwicklung und Beschaffung:
...
Der Nonfood Umsatz lag bei 181 Mio. DM. Die Ergebnisse bei allen Kontrakten waren überwiegend positiv und hätten -- ohne die situationsbedingten Verzögerungen bei der Devisensicherung -- zu einem um 1,6 Mio. DM ertragreicheren Resultat geführt.

I would appreciate help with the above phrase.
1st, what is meant by Devisensicherung in this context?
2nd, please see next question!

TIA, Beth
Beth Kantus
United States
Local time: 21:35
English translation:delays in currency hedging caused by circumstances
Explanation:
this is the straight-forward translation
Selected response from:

Gudrun Russo
Local time: 21:35
Grading comment
I think I'll go with the short and sweet version, but all of the answers and explanations helped. Thanks very much to all of you!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2delays in hedging foreign exchange exposure, [due to circumstances?]
Ralf Lemster
5delays in currency hedging caused by circumstancesGudrun Russo
4--absent the incurred delays outside our controlgangels
4without the delays with respect to currency hedging that were he
Dr. Fred Thomson
4the situation-bound delays in currency hedgingKlaus Dorn


  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
delays in hedging foreign exchange exposure, [due to circumstances?]


Explanation:
"Devisensicherung" refers to hedging foreign exchange risks / exposures - it's very difficult to translate "situationsbedingt" without knowing what kind of "situation" they're referring to. My personal impression is that they may have left it too late, and now try to blame "the circumstances"...


    Own professional experience in the financial markets
Ralf Lemster
Germany
Local time: 03:35
Native speaker of: German
PRO pts in category: 163

Peer comments on this answer (and responses from the answerer)
neutral  Klaus Dorn: well, you can lose money due to admin delays...
3 mins
  -> Point taken - but if they managed to sink DM1.6m due to admin problem, someone should be checking their processes...

agree  wrtransco: "circumstantial" vielleicht???
2 hrs
  -> Possibly - but I believe one would need to see the entire context.

agree  Ulrike Lieder: Or possibly "situational" ?
2 hrs
  -> see above
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13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
the situation-bound delays in currency hedging


Explanation:
Basically, in order to safeguard against the fluctuations in the currency markets, one hedges the position in one currency against a position in another. This does occasionally incur delays as a number of transactions are necessary (converting a risk or assets) from one into another currency. For example, if I want to get as many US$ for 100 EUR as possible, I might think about converting the Euros into something that can buy a few more dollars than the original Euros can directly.

I did it with US$ and NIS (Israeli Shekel) in regards to TRL (Turkish Lira) some time ago, it works, even for small amounts, provided there's no commission.

In the big currency markets this is done millions of times a day with big amounts....

Klaus Dorn
Local time: 04:35
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
neutral  Ralf Lemster: ...but that's called speculation, not hedging... ;-)
4 mins
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38 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
without the delays with respect to currency hedging that were he


Explanation:
occasioned (0r: dictated)by the circumstances.


--------------------------------------------------
Note added at 2002-04-01 21:35:16 (GMT)
--------------------------------------------------

Leave out the extra \"he.\"

Dr. Fred Thomson
United States
Local time: 19:35
Native speaker of: English
PRO pts in category: 37
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3 hrs   confidence: Answerer confidence 5/5
delays in currency hedging caused by circumstances


Explanation:
this is the straight-forward translation

Gudrun Russo
Local time: 21:35
Native speaker of: German
PRO pts in category: 6
Grading comment
I think I'll go with the short and sweet version, but all of the answers and explanations helped. Thanks very much to all of you!
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7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
--absent the incurred delays outside our control


Explanation:
during currency hedging---

Not so sure Devisensicherung means hedging. I think they just met with delays in securing a letter of credit, being standard payment procedure in intercurrency commerce

gangels
Local time: 19:35
Works in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 119
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