Understand the benefits of multi-currency business accounts for companies engaged in global trade from Singapore.
Companies in Singapore involved in import/export benefit greatly from multi-currency accounts. These accounts allow businesses to hold and transact in currencies such as USD, EUR, GBP, and CNY without frequent conversion fees. For instance, DBS's Multi-Currency Account supports over 13 currencies. This is particularly valuable for firms dealing with overseas vendors or receiving international payments. Such accounts simplify accounting and allow for better control over forex exposure.