What is the best way to protect against currency risk?

To ensure the provide active supervision at workplace ,continue walk through & inspection by project team,management and review the previous auditing report and take necessary action,etc.

Risk could be negative or positive, so we have to think about risk from this perspective. It is not something we should escape from, we should analyse it and fine the best  way to get benefit from, and mitigate its negativeness.

The principle is "Do not put all egs in one basket".

There are several ways to hedge currency risk, depending on your exposure e.g are you a currency trader in which case I'd say look at currency swaps or if your an investment business then I'd say you should look at commodities that move opposite to the currencies you hold e.g. bonds and metals. If you're a business that does a lot of import and export business then look at futures contracts and other hedging options. it's always worth keeping an eye on economic data and if you do trade then don't trade around big news releases, the market will be too volatile. Typically monetary policy moves a currency more than fiscal policy so look at currency pairs that either move opposite to the currency you want to trade or currencies where currency pegs exist.

Currency risk is very flactuating and frequently changing, as we knew all of the currencies and most of them are fixed with dollars so, we must look at dollrs changing there are so many things like political issues and other economic changes that the value of dollars changes, most of the people save their money in dollars in banks like swiss banks etc. so in short there are so many things connected with currency risk.