北大金融学课件(英文版)第4章(6课时).pptVIP

CHAPTER 4 Forward Exchange and International Financial Investment Exposure to Exchange Rate Risk We are exposed to exchange rate risk if the value of our income or net worth will change when exchange rates in the future change in ways that are not expected. Some Cases An American tourist in Japan, carrying U.S dollars with her; After 6 months, you will go to study in Oxford University. Should you translate your RMB into Pound right now, or wait for a while? You have invested in a stock listed on NASQ, and in 6 month you will have to sell it to get your money back to pay your tuition in