Gerrick has an international business but is having difficulty with currency exchanges and fluctuations in the currency exchange rates. At times the problems are so severe he has considered closing down his international operations and doing business exclusively in the United States. Where can he go for assistance with currency exchange problems?

Question

Jamison

Business

2 November, 05:47

Gerrick has an international business but is having difficulty with currency exchanges and fluctuations in the currency exchange rates. At times the problems are so severe he has considered closing down his international operations and doing business exclusively in the United States. Where can he go for assistance with currency exchange problems?

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Answers (1)

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Jayleen Wu · Answer 1

His bank, if it is a large international bank.

Explanation:

Herrick needs to go to his bank that has international operations to get more stable rates for his international business.

International banks have corresponding banks they operate with for international transactions. A major advantage of this is that eachange rates between banks and their corresponding banks are more stable and not prone to huge fluctuations.

This will be the best option for Herrick.