CFO FX risk mana2教程.pdfVIP

Foreign Exchange Risk Management An Effective and Scalable Framework for Harnessing Currency Volatility The Rise of Volatility After the breakdown of the fi xed exchange rate system in the early 1970s, most of the world’s largest economies Never before have global companies been so exposed to switched to fl oating currency rates freely determined by currency market volatility and the risks associated with it. As market forces. During the same period, trading volumes in supply chains stretch around the globe, more companies foreign exchange markets expanded massively, to the point are venturing farther into foreign markets, buying and selling that annual turnover now vastly exceeds the value of world goods in places long considered out of reach for all but the trade. According to fi gures recently published by the Bank largest multinationals. These international ventures often of International Settlements, average daily transaction fl ows generate spectacular opportunities for business growth and now exceed $4 trillion US dollars. fi nancial prosperity, but they can also expose companies to signifi cant and potentially damaging foreign exchange risk. In short, a great experiment is currently underway, and exchange rates are moving dramatically as a result. No