$1.70 to the £1
After years of hovering around $1.50 and below, Sterling is finally recovering and has now reached the level just before the 2008 crash.
A lot of people associate varying exchange rates as only impacting firms that export a lot of goods. But what about if you are reliant on importing parts or products? In theory this should be good news, does this mean lower prices for customers or simply higher profits?
Another one for online business can be monetization such as adsense which is paid in dollars, so will be worth less than it did previously, or if you have US based hosting which can also vary in price.
I remember it was nearly 2 dollars to the pound prior to 2008, I wonder what impact that would have on exporters and the recovery if Sterling continues up to those levels?
So does the dollar/sterling/euro exchange rate make any noticeable difference to your business? If so in what way? Do you have to regularly adjust your pricing or just accept costs will rise and fall?
