Poll: Do currency exchange rates generally work in your favor?
Thread poster: ProZ.com Staff
ProZ.com Staff
ProZ.com Staff
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Jan 6, 2019

This forum topic is for the discussion of the poll question "Do currency exchange rates generally work in your favor?".

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Muriel Vasconcellos
Muriel Vasconcellos  Identity Verified
United States
Local time: 05:39
Member (2003)
Spanish to English
+ ...
They work against me Jan 6, 2019

Obviously, if I quote a rate in dollars to non-U.S. client, I have three choices: (1) raise my rate; (2) ask the client to pay for the currency exchange fee; or (3) swallow the loss.

(1) I have already lost clients because my rates are higher than average ;increasing them even more definitely prices me out of the market.
(2) As for asking them to pay the exchange fee, so far only one client has agreed to do it; the rest have refused.
(3) That leaves me swallowing the los
... See more
Obviously, if I quote a rate in dollars to non-U.S. client, I have three choices: (1) raise my rate; (2) ask the client to pay for the currency exchange fee; or (3) swallow the loss.

(1) I have already lost clients because my rates are higher than average ;increasing them even more definitely prices me out of the market.
(2) As for asking them to pay the exchange fee, so far only one client has agreed to do it; the rest have refused.
(3) That leaves me swallowing the loss.
Collapse


 
Maria Teresa Borges de Almeida
Maria Teresa Borges de Almeida  Identity Verified
Portugal
Local time: 12:39
Member (2007)
English to Portuguese
+ ...
Other Jan 6, 2019

Most of my customers are in the Euro zone and I always issue my invoices in my own rate (EUR). For clients outside the Euro zone my invoices say that my payment terms are X days from date of invoice, exclusively by bank transfer (net of all bank charges).

 
Jan Truper
Jan Truper  Identity Verified
Germany
Local time: 13:39
Member (2016)
English to German
other Jan 6, 2019

I make exchange rates work in my favor.

With some of my clients, my rate is based on USD, with other clients my rate is based on EUR.
When the exchange rate tips significantly to either side, I am more likely to take on work from clients paying in the stronger currency.

[Edited at 2019-01-06 12:55 GMT]


 
Jennifer Forbes
Jennifer Forbes  Identity Verified
Local time: 12:39
French to English
+ ...
In memoriam
Euro to Pound Sterling Jan 6, 2019

For some years now the euro-£ rate has been in my favour but it used to be the other way round. I work mainly in finance and I'm well aware that exchange rates change all day every day, so my present situation probably won't last.

 
Thayenga
Thayenga  Identity Verified
Germany
Local time: 13:39
Member (2009)
English to German
+ ...
Other Jan 6, 2019

Jan Truper wrote:

I make exchange rates work in my favor.

With some of my clients, my rate is based on USD, with other clients my rate based on EUR.
When the exchange rate tips significantly to either side, I am more likely to take on work from clients paying in the stronger currency.


This is the best way to work, make it work in one's favor.


 
Rebecca Garber
Rebecca Garber  Identity Verified
Local time: 08:39
Member (2005)
German to English
+ ...
They currently work in my favor... Jan 6, 2019

However, there have been times in which the exchange rate was not beneficial. I try to set rates in € and $ so that I can earn a moderate living.

 
Christopher Schröder
Christopher Schröder
United Kingdom
Member (2011)
Swedish to English
+ ...
Bizarre question Jan 6, 2019

I can’t see how exchange rates can generally work for or against you. They just are what they are.

 
Mario Freitas
Mario Freitas  Identity Verified
Brazil
Local time: 09:39
Member (2014)
English to Portuguese
+ ...
Yes when they increase, No when they decrease Jan 7, 2019

Generally, yes, because inflation makes the US Dollar and the Euro go up regularly in Brazil, and these are the two currencies I get paid with.
So, yes, I'm selfish and I cheer up when the foreign currencies go up, although it's theoretically a negative thing for the local economy (which I don't quite believe).


 


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Poll: Do currency exchange rates generally work in your favor?






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