How to protect yourself from an increase of dollar and decrease of ruble
Exchange rates “stole” from domestic companies million kuna in first three quarters of this year, or they cut down on income.
Unfavorable exchanges cut down of the profit of Atlantic group, AD Plastik, Ericsson NikolaTesla and Ina. Domestic shipyards are the most exposed to exchange rate of euro,dollars and kuna.
It took million of kuna from them for years, since the business are contracted in dollars, and the expenses are mostly in kuna. But 3.maj “earned” on exchange differences and interest rates 2,29 million kuna in first nine months this year. Viktor Lenac, that is recovering slowly, still does not use protection mechanisms because the business turn over is much faster so till now they don’t count on big problems due to the exchange rates. Shippers like Atlantska plovidba made profit on exchange rate differences.
But, those who lost due to exchange rate differences, lost millions.
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