How can I minimize my losses and even strategically gain on Foreign Currency Exchange?
Statistics in our article have shown that there are better days of the week to exchange currency to increase savings for your bottom line by as much as $134,058.35!
Exchanging currencies on the date your invoice is due or whenever you feel like it could lead to you missing out on possible savings! Follow our strategies and save.
We analyzed 10 Years Worth of Trading Data to Determine a Formula for Saving Money
The trends in this data led us to the best days of the week to exchange currencies.
The Idea of the Case
Many of the businesses we service make payments on the 1st business day of each month.
We wanted to find out if there were better times to make these payments based on the daily exchange rate fluctuations.
All data is based on a business that exchanges $100,000 each month.
The impact this study brings for your business is relative to the size of your monthly currency exchanges. All numbers are displayed in Canadian Dollars (CAD).
Here were our findings..