Case Study: Arkonik gains greater FX certainty with OFX

Arkonik locks in FX rates for up to 12 months with OFX

Arkonik, a UK-based company that builds custom Land Rover Defenders for clients primarily in North America, faced challenges managing its international finances. With divisions in both the UK and the US, the company needed to purchase parts internationally and bring revenue earned in dollars back to the UK. This exposed them to significant foreign exchange risk, especially during periods of market volatility, which could adversely impact their profits. They needed a trusted partner to manage these currency needs, which led them to OFX.

OFX provided Arkonik with expert guidance and tools to mitigate currency risk. Working with an OFXpert, Arkonik utilized Forward Contracts to lock in exchange rates for up to 12 months, protecting the business from adverse market movements. This solution provided greater certainty for financial planning and helped protect their bottom line. The partnership with OFX was described as hugely beneficial, allowing Arkonik to seamlessly manage its currency and focus on its core business.

Arkonik