Awarded contract
Published
Foreign Exchange Services Qualification System
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Description
The CIÉ Group has a requirement to purchase and sell US dollars (USD), to purchase Pounds Sterling (GBP), to sell Canadian Dollar (CAD) and to Sell Australian Dollar (AUD) and uses foreign exchange contracts to fix our cost position. CIÉ buys USD to pay for fuel in the CIÉ Group. The amount required will depend on the forecasted fuel usage. CIÉ Tours International is a wholly owned subsidiary of CIÉ and is the largest inbound tour operator in Ireland. CIE Tours generate revenue in USD, CAD and AUD and these currencies are sold against EUR. CIE Tours also pay GBP to UK based suppliers for clients travelling in the UK. The CIÉ Group may also have a requirement to buy at spot rate to meet the needs of its activities
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