Rosanna Lamanna, Partner, Assurance Services at Grant Thornton Canada, began the session by explaining the result sand insights from the joint survey. Lamanna was encouraged that just over 80 per cent of respondents have a foreign exchange policy in place, however, advised companies to review, monitor and evaluate those policies on a regular basis. She advised those without a policy to revisit the matter.
Andrew Kelvin, Senior Rates Strategist, TD Securities, discussed economic and financial market outlooks and predictions. Kelvin is a Senior Rates Strategist with the Rates, Foreign Exchange, and Commodities Strategy team with a specific focus on Canadian markets.
To help companies minimize the risks of foreign exchange, Scott Cressman Vice President, Commercial BankingDevelopment, Foreign Exchange, Investment & Commodities, TD Securities, outlined 8 steps to a foreign exchange hedging strategy. Cressman showed how hedging will improve the ability of companies to weather market volatility, protecting their profits.
Following the event, attendees received a copy of TD’s Foreign Exchange Policy to use as a guideline in developing their own policies. Organizations should identify the foreign exchange risks associated with their business, and address these risks in a formal process.
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