Business

NCCSL seminar on ‘ Hedging Exports and
Imports Against Currency Fluctuations’

The National Chamber of Commerce of Sri Lanka (NCCSL) will be discussing the available mechanisms for hedging exports and imports against currency fluctuations at a seminar to be held on Wednesday, 27th July 2005 from 9.00 am to 12.00 pm at Galle Face Hotel, Palm Lounge, Colombo 1.

A common problem associated with international trade in developing economies such as Sri Lanka is the loss incurred by exporters and importers due to unexpected currency fluctuations. Many Exporters and Importers have to face this situation in the absence of a proper mechanism to hedge exports and imports against currency fluctuations. In many cases local currency is subject to depreciation after orders are placed with foreign buyers, thereby incurring heavy losses. Losses could be minimized with proper knowledge and planning. Losses could even be converted to profits if properly planned.

The seminar is aimed at educating the participants in this vital aspect affecting international trading as to how they could avoid losses and convert such losses to profits in the event unexpected currency fluctuations. Participants will be provided with the details of the available mechanisms and strategies to minimize adverse effects on unexpected currency fluctuations. A panel of well experienced eminent resource persons will talk on different subjects pertaining to currency fluctuations. Dr H N Thenuwara, Director, Economic Research Division, Central Bank of Sri Lanka will give an insight into economic and other factors that affect exchange rates in Sri Lanka. Mr. H M P Herath, Deputy Controller of Exchange, Central Bank of Sri Lanka will talk on rules and regulations governing foreign exchange transactions in Export and Import trade, Mr. Kenneth de Zilwa, Head of Treasury Sales of HSBC who is also the President of Sri Lanka FOREC Association will outline the different instruments available for hedging currency fluctuations in export and import trade, whilst the advantages and disadvantages of hedging foreign exchange risks and how to approach the bankers for hedging will be addressed by Mr. Ranjith Hettiarachchi, Managing Director of Samson Sports Wear Industries.

For further details and reservations, participants may contact Mr. Nirosh Ekanayake on 5 374801-3, fax 2689596 or email sg@nccsl.lk, libr-ary@nccsl.lk. Reser-vations will be strictly on first come first served basis.

 

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