Most of our local partners hedge currency fluctuations against their local currency (in which they generate revenues and pay their expenses). Typically, Lendahand also agrees with the local partner the maximum amount of unhedged loans. With the USD loans, some companies will no longer have to hedge, as their local currencies are pegged to the US Dollar. This means they do not fluctuate against the USD (whereas they do fluctuate against the euro). iBanFirst could technically hedge the EUR-USD exchange rate up to two years, but this is something we currently do not offer.