At Chartway; we have customers in multiple regions across Europe and USA, and can trade in GBP (Great British Pounds), USD (United States Dollars) and EUR (Euros).
We manufacture at our facility in Asia where we trade in USD, as well as sourcing material and components from Europe; so often exchange rates have to be used in putting together your pricing.
How does the exchange rate impact you?
If you trade in GBP but we supply the component from Asia (and buy in USD) then your quoted price can change if the exchange rate changes.
For example, if a component costs $1.00 each, at an exchange rate of $1.30, the part in GBP would cost £0.77.
If the exchange rate was to drop to $1.20 for the same part, the price in GBP will increase to £0.83
The same also applies with changing from EUR to GBP,
While we will absorb the costs on small fluctuations, sometimes we have no choice but to re-quote based on the current exchange rate.
Gaining more control
In the same example above, if you would have the ability to trade in USD, then the price would always remain at $1.00 each (unless the material or machining costs were to change).
You will then be able to control your own currency exchange internally; either by changing up currency or funding from your own USD account.
This can give you the peace of mind that the piece price will remain static if you need to put together price lists or quotes for your own customers.