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1 HOW DO FOREIGN EXCHANGE RATES AFFECT LOGISTICS QUOTATIONS?

1.3 KEY TERMS

1.4 HOW FX ENTERS A LOGISTICS QUOTATION

1.5 FORMULAS AND INTEGRATED EXAMPLE

1.6 QUOTATION MODEL MATRIX

1.7 DOCUMENTS AND DATA TO CHECK

1.8 FX CONTROL PROCESS

1.9 COMMON RISKS AND ERRORS

1.10 LEGAL AND OPERATIONAL REFERENCES

1.11 FAQ

1.12 TGIMEX IMPLEMENTATION SUPPORT

1.12.1 Convert guidance into checks

1.12.2 Reconcile shipment data

1.12.3 Manage operational risk

FREIGHT CHARGES

HOW DO FOREIGN EXCHANGE RATES AFFECT LOGISTICS QUOTATIONS?

A quotation showing USD 4,000 does not mean the final VND payable amount has been locked. Variances may arise because the quotation currency, settlement currency, carrier ROE, fixing date, conversion spread and bank fees are different. If the buyer only reviews the foreign-currency rate and ignores the conversion mechanism, the logistics budget may move even when the service scope and shipment data remain unchanged. This article explains how exchange rates flow through quotations, invoices and landed cost, and how to normalize competing quotations on the same currency basis.

QUICK FACTS

FX is a pricing condition

A quotation should state the currency, rate source, fixing date/event and validity.

ROE is not the customs rate

Carrier ROE, bank rate, customs rate and accounting rate serve different purposes.

The same USD amount can produce different VND totals

Timing, buy/sell side, spread, wire fees and invoice policy all matter.

All-in does not automatically lock FX

Confirm whether the VND total is fixed or only the foreign-currency charge components are fixed.

Run sensitivity scenarios

Test a base case and 1–3% FX movements to measure the exposure.

Illustration for How Do Foreign Exchange Rates Affect Logistics Quotations? — Illustration of the logistics topic, document or operation discussed in the article.

SCOPE OF APPLICATION

This article applies to ocean, air, cross-border road, rail and international logistics quotations containing charges in USD, EUR, CNY or other currencies while the company manages its budget in VND.

The focus is the commercial and operational mechanism of quotations, invoices and settlement. The rates discussed here do not replace customs, accounting, bank or foreign-exchange rules applicable to a specific transaction.

KEY TERMS

Term	Meaning	Role in a quotation
Quotation Currency	The currency in which each freight or surcharge item is listed.	Defines the original amount to be settled or converted.
Settlement Currency	The currency the buyer must actually use to pay the invoice.	Determines whether the buyer purchases foreign currency or pays VND under an ROE.
ROE – Rate of Exchange	The conversion rate applied by the carrier or invoice issuer.	May differ from bank quotations and change according to a defined date/event.
Fixing Date/Event	The date or event that locks the rate: quotation, booking, invoice, ETD/ATD or payment date.	Determines the final conversion rate.
FX Spread/Markup	A margin over or under a reference rate.	Can make the payable VND amount higher than a mid-market conversion.
CAF – Currency Adjustment Factor	A currency-related surcharge where the tariff or quotation applies one.	A separate charge and not the same as the invoice conversion ROE.

HOW FX ENTERS A LOGISTICS QUOTATION

1. Base freight and surcharges may use different currencies. Ocean Freight may be in USD, local charges in VND, trucking in VND and a China-side service in CNY. These amounts should not be added before currency normalization.

2. Quotation currency may differ from settlement currency. A charge may be listed in USD but invoiced for payment in VND under the issuer’s ROE. In other cases, payment must be made in the invoice currency.

3. FX is locked at a defined milestone. The fixing point may be the first invoice creation date, booking date, departure date or payment date. Two identical USD quotations can therefore carry different FX exposure.

4. Conversion may include a spread or conversion cost. A public mid-market rate is not necessarily the rate available from a bank or applied by the carrier.

5. FX affects landed cost and margin. When sales revenue is fixed in VND but logistics costs are linked to USD/EUR/CNY, the buyer carries an FX position until the rate or payable amount is locked.

CONTROL POINT: “Fixed price” only has meaning when the quotation identifies which price is fixed, in which currency, until what date and which charges remain adjustable.

FORMULAS AND INTEGRATED EXAMPLE

Estimated VND payable = Σ (charges in each foreign currency × the corresponding ROE) + VND-denominated charges + conversion/remittance fees.

FX variance = Σ [foreign-currency charge_i × (invoice ROE_i − budget ROE_i)], provided the scope and charge quantities are unchanged.

1% sensitivity ≈ the VND value of each foreign-currency exposure × 1%, where that currency moves 1% in the same direction and before bank fees or other adjustments.

Illustrative input	At quotation	At invoice	Impact
USD charges	USD 4,000	USD 4,000	No scope change
ROE	25,500 VND/USD	25,900 VND/USD	Up 400 VND/USD
Converted value	VND 102,000,000	VND 103,600,000	Increase of VND 1,600,000

The example only illustrates the mechanism. Actual payment may also include VAT, bank fees, rounding, additional charge codes and invoice-specific conditions.

QUOTATION MODEL MATRIX

Model	FX exposure	Questions to ask	Control method
Quoted and paid in USD	The buyer bears the bank’s USD selling rate and remittance cost.	Who bears bank charges; beneficiary account; payment date.	Purchase or hedge currency according to the payment plan.
Quoted in USD, paid in VND under ROE	Depends on the issuer’s ROE and fixing event.	ROE source; fixing date; spread; rebill policy.	Agree an ROE cap/floor or fixed ROE during validity.
Fixed VND package	The issuer may absorb FX during validity, while out-of-scope charges may still move.	How long VND is fixed; exclusions.	Useful for budgeting when the lock conditions are explicit.
Multi-currency quotation	Multiple currencies and fixing events create several exposures.	Currency by charge; settlement currency by line.	Normalize to one reporting currency.
CAF or FX surcharge applies	CAF is a tariff charge, while ROE is a currency-conversion mechanism. Both may legitimately coexist.	Is CAF included; what is its base and currency; does ROE also convert the CAF amount.	Do not label the combination as double charging unless the same adjustment is applied twice contrary to the pricing terms.

DOCUMENTS AND DATA TO CHECK

Data/document	Issuer	Fields to verify	Risk if missing
Quotation/Rate Sheet	Carrier, airline, forwarder	Currency by charge, validity, ROE clause, inclusions/exclusions.	Unclear which price is locked.
Booking Confirmation	Carrier/forwarder	Rate reference, voyage/flight, payment term, prepaid/collect.	Wrong milestone or scope.
Invoice/Debit Note	Service provider	Invoice currency, ROE, invoice date, charge code, VAT.	Unexplained budget variance.
ROE notice or portal	Carrier/forwarder	Rate, effective date, rebill/dispute policy.	Wrong rate or date.
Bank quotation	Paying bank	Buy/sell transfer rate, OUR/SHA/BEN fees, cutoff.	Missing currency purchase and wire cost.
Customs exchange rate	Customs authority	Applicable period and declared currency.	Confusion with commercial ROE.
Accounting policy	The enterprise	Recognition, settlement, remeasurement and FX-difference treatment.	Mixing operational budgeting with accounting records.

FX CONTROL PROCESS

Separate charges by currency: do not add USD, CNY and VND before conversion.
Identify settlement currency: state which charges are paid in foreign currency and which in VND.
Lock the ROE mechanism: source, fixing event, spread, rounding and validity.
Normalize quotations: convert alternatives at the same base rate and scope.
Run sensitivity: at least base, +1% and +3% scenarios for foreign-currency exposure.
Check the booking: confirm rate reference, prepaid/collect and amendment conditions.
Check the invoice: reconcile charge codes, ROE and fixing date to the quotation/notice.
True up the budget: separate FX variance from scope, quantity and surcharge variance.

COMMON RISKS AND ERRORS

Error	Cause	Impact	Control
Using a Google/mid-market rate as the payable rate	ROE and bank spread were not reviewed.	Budget below actual invoice.	Use the contractual ROE and add conversion cost.
Confusing ROE with the customs rate	Same label, different purpose.	Incorrect freight estimate or internal reporting.	Maintain a rate table by purpose.
No fixing event	Wording only says “rate at payment”.	Unclear risk owner and lock date.	State an exact date/event and timezone where relevant.
Comparing quotations in different currencies	Only the listed numbers are compared.	A seemingly cheaper option may be selected incorrectly.	Normalize and run sensitivity.
Ignoring rebill/dispute rules	Assuming a revised invoice uses a new rate.	Unexpected variance.	Review ROE treatment for adjusted invoices.
Confusing CAF with ROE	A currency surcharge and an invoice conversion rate are treated as the same mechanism.	A valid charge may be removed or the same adjustment may be counted twice.	Check the charge code, currency, calculation base and tariff wording before concluding.
Ignoring bank fees	Only currency × rate is calculated.	Wire and correspondent fees are missing.	State payment fee allocation.

LEGAL AND OPERATIONAL REFERENCES

Sources reviewed on 17 July 2026. Carrier policies, rates and payment terms may change by market, country, charge code and invoice date.

Source	Status/date	Use
Maersk Vietnam – Payment	Current operational page	Invoice-currency payment; freight/surcharges use the first invoice creation date, while import DEM/DET uses the actual invoice creation date under the published policy.
Maersk – ROE alignment for Vietnam	Notice dated 25 June 2024	Example of freight-invoice ROE tied to first invoice creation and retained for rebills/disputes.
Maersk – ROE lookup	Current FAQ	ROE lookup by currency and date in MyFinance.
Vietnam Customs – Foreign exchange rates	Periodically updated data	Customs-purpose lookup; not the same as commercial carrier ROE.
Ministry of Finance – application of Circular 99/2025/TT-BTC	Effective 1 January 2026; applies to financial years beginning on or after that date	Enterprise accounting framework; entities with a non-calendar financial year apply it from the relevant financial-year opening date, and should not automatically use quotation ROE as an accounting rate.
Vietcombank – Foreign exchange rates	Bank data updated by time	Illustrates cash-buying, transfer-buying and selling rates; published rates are indicative for an actual transaction.

FAQ

1. A quote is in USD but payment is in VND. Which rate applies?

Use the rate and fixing event stated in the quotation, service contract, ROE notice or invoice policy. Do not assume a random bank rate.

2. Does an All-in quotation include FX risk?

Not automatically. Confirm whether the foreign-currency components or the final VND amount are fixed, and identify all exclusions.

3. Can the customs exchange rate be used to pay freight?

Only where the contract or invoice expressly says so. Customs rates and commercial ROE generally serve different purposes.

4. Why can a carrier ROE be higher than an online reference rate?

Possible reasons include the buy/sell side, fixing time, spread, rounding rules, carrier policy or update cycle.

5. Does a corrected invoice use a new ROE?

It depends on the policy. Some carriers retain the original invoice ROE for rebills and disputes.

6. Which date should be used to compare quotations?

Use one common base rate on the decision date, then run sensitivity scenarios. Do not use a different favorable rate for each option.

7. Should buyers request a fixed VND quotation?

It can improve budget certainty, provided validity, exclusions, re-quotation triggers and out-of-scope charges are explicit.

APPLICATION NOTE: The actual outcome depends on the currency of each charge, prepaid/collect terms, fixing event, ROE, spread, invoice currency, tariff and bank policy. For high-value budgets or long quotation-to-payment cycles, establish FX scenarios and approval limits before booking.

TGIMEX IMPLEMENTATION SUPPORT

TGIMEX helps businesses turn the article into a shipment-ready checklist, covering input-data review, dossier preparation, milestone control, and coordination with the relevant parties.

Convert guidance into checks

Assign an owner and deadline to every operational control point.

Reconcile shipment data

Compare booking, transport, commercial, customs, and delivery evidence.

Manage operational risk

Record discrepancies, actions, and decision evidence to prevent recurrence.

Discuss your shipment dossier

FREIGHT RATES

How Do Foreign Exchange Rates Affect Logistics Quotations?