Article: Currency Risk Mitigation 101 for Translators
Thread poster: ProZ.com Staff

ProZ.com Staff
Local time: 20:28
SITE STAFF
Oct 24, 2007

This topic is for discussion of the ProZ.com translation article "Currency Risk Mitigation 101 for Translators".

 

Fabio Descalzi  Identity Verified
Uruguay
Local time: 00:28
Member (2004)
German to Spanish
+ ...
About currencies and risks Oct 24, 2007

This article shows many interesting trends in modern currencies and which effect they have in our activity. And this can be particularly worrying if we count on a given income to cover an unexpected expense.
This story is very well known to Latin Americans and other people from "emerging markets". Long tradition of feeble currencies and thriving inflation, then stabilization plans with relatively strong and stable currencies and low inflation, then suddenly the crisis "surprises" us (or at least, all those that dream about an ever-stabe currency at no cost)... thereafter followed by new periods of stability, etc.
Depending from the level of openness of every national money market, people get more or less used to a foreign, stable currency for many transactions. The problem is... when even that strong currency happens to become (at least apparently) feeble.
Most of us people of the language industry are not usually that good at economic forecasts. So we'd better be aware of facts like those exposed in this article by Katalin.
There's a Spanish saying that goes "no poner todos los huevos en la misma canasta" (it is not a good idea to carry all your eggs in the same basket). So... Katalin gives an interesting proposal of how to solve this.


 

Robert Allwood  Identity Verified
Local time: 04:28
Spanish to English
+ ...
extra charges on foreign currency accounts Nov 27, 2007

Interesting idea, but my UK building society (savings bank) levies fairly high charges on foreign currency accounts, whereas my normal banking is generally free.

 


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