Recently, the possible effects of inflation have been discussed more and more. An important topic in this context is currency pairs. Accordingly, in this article we would like to present the consequences of inflation for currency pairs. In addition, we will show you how iBanFirst* supports Amazon Sellers in particular when trading with foreign currencies.
What are currency pairs?
The term “currency pair” refers to the foreign exchange market. There, currency pairs are used to indicate how much a currency is worth at a certain point in time compared to another currency. This article is primarily about currency pairs with US dollars.
Current effects of inflation
The head of the US Federal Reserve – Jerome Powell – recently expressed fears that inflation in the USA is a short-term development. Accordingly, there is great uncertainty in the foreign exchange market. Some even expect changes in monetary policy in the near future. Others, however, rule this out for the time being. With regard to the currency pairs, there have also been clear changes recently. The euro/US dollar currency pair fell below the 1.20 level and the pound/US dollar was also subject to some fluctuations. It remains to be seen how the US tax authorities will react in the course of the year.
If you are interested in trading foreign currencies, iBanFirst is a reliable contact. The service provider was founded in Belgium and recently also has a location in Germany. Amazon sellers in particular can benefit from working with iBanFirst, as they often work with suppliers abroad. However, transactions often present them with challenges that result in you not being able to do business on optimal terms. This is where iBanFirst comes in: the company ensures that you can make payments abroad without any problems. In addition, a payment tracker is available to you, which makes it possible to monitor payment transactions at any time. To open an account with iBanFirst, you need your first and last name. Secondly, you need to have your e-mail address and telephone number ready. As far as your own company is concerned, you need both the registered name and your commercial register number. Furthermore, you need to state your annual foreign exchange volume. At this point we have a savings tip for you: With our link* you can carry out transactions free of charge for the first two months after opening an account with iBanFirst. So take a closer look at the offer!
That was our overview of the current effects of inflation. Do you have any further questions about the various services offered by iBanFirst or do you need other support in your online business? Then please feel free to contact us. We will be happy to help you at any time. Feel free to send us a message – without obligation, of course.
We look forward to hearing from you.