Aharon Navon

“In a very simple manner, when you have an importer, for example, that is buying some some type of an inventory, for example, an importer from The US that is buying, for example, inventory, which is wine, okay, from euro. So he's a dollar based. He's selling his wines in dollars, but he's paying for his, you know, wines in euro. So the exposure between the euro and the dollar is affecting him.”

“what we're doing here is we're providing him with a hedge that he can fix his euro dollar rate at the, let's say, the inception of his of his order. And that's that that that way he knows how much he paid in dollars, okay, for something that he will be receiving in two months time.”

“It's basically 20, 30 basis points, you know, above my cost of of hedging, which is actually very, very competitive. I mean, if you will try to do that, for example, versus, I mean, with this local bank, he would pay probably end up paying by 5% for the specific million dollars of euro dollar hedge.”