Currency swings pose a threat to farmers, warns bank
Farmers observing the major swings in value between the euro and sterling were yesterday advised to contact their banker for advice in mitigating risk in the value of their basic payment scheme (BPS).
Ten days ago, the exchange rate for the 2016 BPS was set at 85p to the euro, which meant Scottish farmers will receive around 12p more for each euro of subsidy this year than they did in 2015.
It’s important that farmers understand the risks and opportunities Sandy Hay However, Sandy Hay, area director for agriculture at Bank of Scotland, said an increased number of the bank’s customers also... read more
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