Practice 10　　The U. S. Dollar is the currency most often used in international trade. If the currency of export sales is different from the currency of the exporting country, for example a Japanese exporter sells in U.S.　　Dollars, the exporter may encounter exchange risks-risks from fluctuations in exchange rates, for example between the U. S. Dollar and the Japanese Yen.　　In case of the Yen appreciation at the time of converting the U.S. Dollar to the Yen, the exporter will get less Yen per U.S. Dollar. Conversely, in case of the Yen devaluation the exporter will get more Yen per U.S. Dollar. Hence, in time of currency appreciation in the exporting country, it is important that the exporter ships the goods earlier, unless an earliest date for shipment is stipulated in the L/C or has been agreed upon between exporter and importer, and present the negotiating documents to the bank immediately.　　The exporter may contract with the bank to sell the U.S. Dollar forward in a so-called forward exchange, at a predetermined rate on an agreed future date, thus he/she will not be affected by the currency appreciation and will receive a fixed amount in his/her own currency at a future date.