INTOUCH : Dealing with a high Kiwi

The ongoing fluctuation of NZ currency value highlights the need for companies to identify their foreign exchange risk and how that impacts on their business.
They need to put sound foreign exchange policy framework in place and be disciplined to work within that framework, says Brett Finnigan, managing director of HiFX company that optimises the timing of transactions for its clients as well as offering various methods to improve ‘forex’ returns.
“Foreign exchange is not something that should be left to chance and expert advice is required to protect those profit margins. Most small companies don’t have that expertise available in-house,” says Finnigan.
His company uses number of simple tools to manage forex risk including forward exchange contracts, stop-losses, market orders, options or combination. And the continuing volatility of the Kiwi is obviously not bad news for his company which last year earned fastest-growing exporter status in the Deloitte/Unlimited Fast 50 Awards.