Businesses rush to snap up BCC’s currency hedging product to manage risks of falling pound
The British Chambers of Commerce has seen a surge in small firms taking out its currency hedging product to cover themselves against rising costs resulting from sterling’s weakness.
The BCC runs its product, called Chamber Foreign Exchange, in partnership with leading foreign exchange firm Moneycorp.
Dr Adam Marshall, who was made director-general of the BCC last week, said: ‘We’ve seen a five or six-fold increase in interest since the referendum. And when we ask businesses what their number one issue is, it is sterling.
‘It’s bigger for most in the short to medium term than issues around... read more
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