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Imports and Exports

This topic has 1 reply, 2 voices, and was last updated 1 year ago by John Moffat.

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May 23, 2021 at 2:41 am #621482
Anonymous
Inactive
- Topics: 44
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I have few questions to ask please help me!
While Pound being Local Currency
And Dollar being Foreign Currency
1) When we sell goods (expprt) to foreign customer; do customers pay in their currency or they have to pay us in Pounds?
2) When we purchase goods (import) from Foreign supplier; do we pay for goods in Local currency or we have to pay in Foreign Currency?
May 23, 2021 at 10:52 am #621515
John Moffat
Keymaster
- Topics: 57
- Replies: 51551
In both cases it depends what currency the invoice is prepared in.
If invoices are in $’s then the customer pays $’s (and if they use another currency they will have to buy $’s).
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