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An Executive Interview with Dieter Stynen, Global Transaction Banking FX, Deutsche Bank

In this month’s Executive Interview, Helen Sanders, Editor, introduces Dieter Stynen, Global Transaction Banking FX at Deutsche Bank to discuss some of the challenges and opportunities for cross-currency payments and collections.

What exactly are you referring to when talking about ‘cross-currency payments and collections’?

Treasurers and finance managers often have to deal with situations where cash is paid or received in a currency different to the currency of the bank account. For example, a company that does not have a KRW account paying KRW to a supplier might need to pay the amount from a EUR or USD account. Similarly, a company may receive KRW from a customer into a EUR account. These payments or collections are known as cross-currency payments/collections.

Assuming that it is possible to pay or receive different currencies into an account, what challenges does this present?

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