“Live exchange rates”
Live exchange rates are the only truly accurate exchange rates in the FX market.
This is because, like the global currency markets they mirror, they are in continuous fluctuation. Macroeconomic events such as inflation levels, interest rates, import and export volumes or geopolitical instability, to name but a few, can trigger sharp movements in the exchange rate.
At a corporate level, some businesses working with legacy currency management systems or that manage their currency needs telephonically with their bank might still be offered daily quotes. Daily quotes provide one unique quote for an entire day when in reality, the actual exchange rate will move from that level – whether up or down – over the course of the day. With automated FX management solutions like Dynamic Hedging, international businesses have access to live exchange rates 24/6 and can avoid the inefficiencies related to daily quotes or delayed rates.