Company Overview Blue Fashion is a women’s clothing line based in Australia. Two years ago, the company expanded offshore. Revenues reached AU$ 10 million annually, with 70% of sales denominated in USD and the balance in AUD. As the clothing is manufactured primarily in China, the incoming USD revenue acts as a natural hedge against Case Study Blue Fashion A Corpay Payments Customer for Over 3 Years AUD/USD volatility. U.S. dollars were held in Blue Fashion’s account until invoices were due to be paid or until they needed to convert USD to Aussie for operating expenses. All transactions were done as spot—simply paid out or converted at the prevailing rate. The USD pricing for the clothing had been based on the USD/AUD conversion at the time of the expansion, which gave them a de

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