LEADER 05030oam 22012374 450 001 9910972470603321 005 20250426110737.0 010 $a9786613825896 010 $a9781462313471 010 $a1462313477 010 $a9781452784441 010 $a1452784442 010 $a9781283513449 010 $a1283513447 010 $a9781451909685 010 $a1451909683 035 $a(CKB)3360000000443581 035 $a(EBL)3014362 035 $a(SSID)ssj0000940773 035 $a(PQKBManifestationID)11494012 035 $a(PQKBTitleCode)TC0000940773 035 $a(PQKBWorkID)10955748 035 $a(PQKB)11769093 035 $a(OCoLC)698585583 035 $a(MiAaPQ)EBC3014362 035 $a(IMF)WPIEE2006255 035 $a(IMF)WPIEA2006255 035 $aWPIEA2006255 035 $a(EXLCZ)993360000000443581 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aExchange Rate Risk Measurement and Management : $eIssues and Approaches for Firms /$fMichael Papaioannou 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (22 p.) 225 1 $aIMF Working Papers 300 $a"November 2006". 311 08$a9781451865158 311 08$a1451865155 320 $aIncludes bibliographical references. 327 $a""Contents""; ""I. INTRODUCTION""; ""II. DEFINITION AND TYPES OF EXCHANGE RATE RISK""; ""III. MEASUREMENT OF EXCHANGE RATE RISK""; ""IV. MANAGEMENT OF EXCHANGE RATE RISK""; ""V. HEDGING INSTRUMENTS FOR MANAGING EXCHANGE RATE RISK""; ""VI. HEDGING PRACTICES BY U.S. FIRMS""; ""VII. CONCLUDING REMARKS""; ""REFERENCES"" 330 3 $aMeasuring and managing exchange rate risk exposure is important for reducing a firm's vulnerabilities from major exchange rate movements, which could adversely affect profit margins and the value of assets. This paper reviews the traditional types of exchange rate risk faced by firms, namely transaction, translation and economic risks, presents the VaR approach as the currently predominant method of measuring a firm's exchange rate risk exposure, and examines the main advantages and disadvantages of various exchange rate risk management strategies, including tactical versus strategical and passive versus active hedging. In addition, it outlines a set of widely accepted best practices in managing currency risk and presents some of the main hedging instruments in the OTC and exchange-traded markets. The paper also provides some data on the use of financial derivatives instruments, and hedging practices by U.S. firms. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/255 606 $aForeign exchange rates$xMathematical models 606 $aRisk management$xMathematical models 606 $aBanks and Banking$2imf 606 $aCapital and Ownership Structure$2imf 606 $aCurrencies$2imf 606 $aCurrency$2imf 606 $aExchange rate risk$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aFinancial risk management$2imf 606 $aFinancial services law & regulation$2imf 606 $aFinancing Policy$2imf 606 $aForeign currency exposure$2imf 606 $aForeign exchange market$2imf 606 $aForeign Exchange$2imf 606 $aForeign exchange$2imf 606 $aGoodwill$2imf 606 $aGovernment and the Monetary System$2imf 606 $aHedging$2imf 606 $aMonetary economics$2imf 606 $aMonetary Systems$2imf 606 $aMoney and Monetary Policy$2imf 606 $aMoney$2imf 606 $aPayment Systems$2imf 606 $aRegimes$2imf 606 $aStandards$2imf 606 $aValue of Firms$2imf 607 $aUnited States$2imf 615 0$aForeign exchange rates$xMathematical models. 615 0$aRisk management$xMathematical models. 615 7$aBanks and Banking 615 7$aCapital and Ownership Structure 615 7$aCurrencies 615 7$aCurrency 615 7$aExchange rate risk 615 7$aFinancial Risk and Risk Management 615 7$aFinancial risk management 615 7$aFinancial services law & regulation 615 7$aFinancing Policy 615 7$aForeign currency exposure 615 7$aForeign exchange market 615 7$aForeign Exchange 615 7$aForeign exchange 615 7$aGoodwill 615 7$aGovernment and the Monetary System 615 7$aHedging 615 7$aMonetary economics 615 7$aMonetary Systems 615 7$aMoney and Monetary Policy 615 7$aMoney 615 7$aPayment Systems 615 7$aRegimes 615 7$aStandards 615 7$aValue of Firms 700 $aPapaioannou$b Michael$01814293 801 0$bDcWaIMF 906 $aBOOK 912 $a9910972470603321 996 $aExchange Rate Risk Measurement and Management$94371095 997 $aUNINA