World currencies volatile as Greece struggles to stay afloat

27 April 2010
The financial crisis in Greece is continuing to cause fluctuation between the world’s prominent currencies. The euro sank across the board yesterday as instability in Greece continued, despite the nation’s request for an aid package of €45 billion (£38 billion) from the EU and the International Monetary Fund, according to today’s Financial Times. Against the pound, the euro sank to its lowest point since August while it also declined against the dollar. This recent volatility shows how important it can be to factor in currency fluctuation to procurement deals. Yet our latest SM100 poll revealed that only 34 per cent of companies have a strategy in place to mitigate the risk of currency fluctuations. With volatile exchange rates leaving many buyers vulnerable to losses, they should perhaps begin to heed the warning. Read more in our feature
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