Accessing External Markets and Foreign Exchange Considerations

Foreign Exchange (FX)

If your business involves importing or exporting products to or from other countries, you're affected by the value of the Canadian dollar. If you provide a service in another country, you're similarly concerned with the rate of exchange. Foreign exchange is determined by the value of all the world's currencies in relation to one another.

While there is almost nothing you can do to affect the value of the Canadian dollar, there are some precautions you can take to make sure your business doesn't go under due to a fluctuation in FX. Learn more about protecting your profits and devise a strategy to manage your exposure to these changes.