For a company that operates internationally, local currency payments are transactions that are priced, invoiced and settled in the local currency of a client (sales transactions, or exports) or supplier (purchase transactions, or imports), rather than in the firm’s own functional currency. On the contracting side, buying capacity in the local currency immediately results in a wider range of inventory choices. Crucially, it allows firms to avoid costly markups charged by suppliers who seek to protect themselves from FX risk when forced to sell in a foreign currency. On the selling side, firms that sell in the local currency avoid passing on FX markups to their clients, gaining competitiveness and expanding sales. Finally, in terms of pricing, there are several ways in which the FX-savvy travel firm can take advantage of forward points, the difference between forward and spot currency rates. Operating in the currency of clients/suppliers presupposes effective FX hedging. Depending on a company’s specific parameters, Currency Automation Management solutions allow managers to design the hedging programs that best protect them for currency risk, in an automated manner.