Single Farm Payments

Single Farm Payments

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If you are claiming Single Farm Payments from the EU, then it is well worth considering all the options available when it comes to receiving your payment.

When making a claim, you will have a choice as to whether to receive the payment in euros or sterling. If you decide on sterling, then the amount you will receive is calculated using the exchange rate on a specific day in September. For example, in 2010 the exchange rate was 0.85995. Or if claiming euros, then the sterling amount you will receive will depend on exchange rate at the time you decide to convert it.

There are several months between when you make a claim to receiving your payment. Because of this time delay, depending on what has happened to exchange rates between your application and the date you receive your payment, you could lose out.

Why not have a chat to a Pure FX currency dealer about how you can go about managing this exchange risk?

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