第九讲 用于汇率风险管理的衍生产品.pptVIP

第五章 用于汇率风险管理 的衍生产品—— 货币期货与远期市场 远期市场如何管理外汇风险 1. How MNC’s Use Forward Contracts A forward contract is an agreement between a corporation and a commercial bank to exchange a specified amount of a currency at a specified exchange rate (called the forward rate). When MNCs anticipate a future need for or future receipt of a foreign currency, they can set up forward contracts to lock in the rate at which they can purchase or sell a particular foreign currency. A forward hedge of the dollar Underlying position of a French exporter (long $s) Sell $s forward at Ft€/$