Currency Risk Management
WSFS Bank provides market expertise and solutions to help organizations and individuals manage international transactions and risk. Whether your team is buying or selling goods overseas, acquiring or divesting a foreign asset, or making international payments, WSFS’s dedicated Foreign Exchange team can help you manage the complexities of cross-border transactions and protect your company against volatility.
Lock in the purchase or sale of foreign currency with Outright, Window, or Non-Deliverable Forward contracts.
Own the right, but not the obligation, to buy or sell currency at a specific rate of exchange.
Deposit foreign currency into an FCA, netting foreign payables and receivables.
Commercial online banking to initiate wire transfers and view transactions.
Frequently Asked Questions
Leverage our Foreign Exchange Expertise
- Foreign investments and assets (property, equity)
- Luxury goods (jewelry, art, furniture, watches)
- On-going payments (payrolls, dividends)
- Travel and leisure (entertainment, hospitality)
- Supply chain management (reducing costs)
- Distribution optimization (increasing sales)
- Mergers & acquisitions (valuation security)
- Capital expenditures (heavy equipment)
A WSFS Capital Markets expert will help you find the right solution.
How the U.S. Dollar and Economy Could Affect Foreign Exchange Markets in 2023. Is Your Business Ready?
2022 was undoubtedly the year of the dollar. Although the U.S. currency has recently retreated from its October peak, the USD index still gained 8% in 2022. The main question in the foreign exchange (FX) markets today is whether this latest dollar down move is simply a technical correction due to the market’s reassessment of the future speed of U.S. interest rate hikes, or a true inversion of the trend (i.e., is the USD rally over?).Read More
Jeffrey Barsky, President at Barsky Fleming Marketing Inc. (BFM), has been importing furniture since the mid-90s. The company grew over time to import restaurant furniture from various countries including China, Vietnam, Turkey, Italy, Bulgaria, Germany, and more. In dealing with so many countries and currencies, Barsky knew there were efficiencies available that could help the business grow and capitalize on market conditions.Read More