8/8/2019 Managing Forex Risk_By Indian Firms

1/26

If`fbj`b Ae|cx \jsm J`djf` Aj|is

8/8/2019 Managing Forex Risk_By Indian Firms

2/26

6

Qfkc Fddjtje`

^|fotjofk Fs~cotsJ`djf` Aj|is

_t|ftcbjcs

_bbcstje`s

Qf|jf`ts ea E~tje`s

8/8/2019 Managing Forex Risk_By Indian Firms

3/26

8/8/2019 Managing Forex Risk_By Indian Firms

4/26

J`tc|`fk

?

J`qejoj`b j` thcheic o||c`oz

O|cftj`b f ft|fkhcdbc ) @cttj b

O||c`ozdjqc|sjajoftje`

Kcfdj`b f`d kfbbj`bAX t|f`sfotje`s

If|m)~s Oe`tc|)t|fdc f`d

o||c`oz eaascts

8/8/2019 Managing Forex Risk_By Indian Firms

5/26

T|c`d

4

Oei~f`z @fic ^s|~ec J`t|sic`t Scd ^|e~e|tje` ! T|c`d Os||c`ojc

Hcdbcd j`J`aez Hcdbj`b ae|

dclte|

Ae|rf|d _tf|tcd sj`b ie|c

eaa kftc f oei~f|cd

te ~|cqjes zcf|

S_D+ Cs|e

E~tje`

Cxetjo(\f`bc

Lf||jc|*

Rf scd ie|c

cxtc`jqckz j` kft

aj`f`ojfk zcf|Bemfkdf Cx~e|t Hcdbj`b ae|

dclte|

Ae|rf|d Scd Ae|rf|d E`kz S_D+ _CM+ G^Z

HOK Tcoh`ekebjc Hcdbj`b ae|

dclte|

Ae|rf|d Scd Ae|rf|d E`kz S_D+ G^Z+ _CM

\ztci Hcdbj`b ae|

dclte|

Ae|rf|d Scd Ae|rf|d E`kz S_D

TO_ Hcdbj`b Asts|cOfh Aker

Ae|rf|d Scd Ae|rf|d tehcdbc os||c`oz |jm

j` kft Aj`f`ojfk Zcf|

lst thc ~|e~e|tje`

rf gst te thc ts`c

ea 6>#

S_D+ Cs|e+BL^

8/8/2019 Managing Forex Risk_By Indian Firms

6/26

C`tc|cd j`te Ajxcd^|joc Ae|rf|d Oeqc|

Ae|rf|d \ftc 46rhc` _~et ?8

Fssij`b \~cc teF~~|cojftc

Aj`f`ojfk O|jsjs ITI Kess 642 O|e|c

C^_ a|ei 6rjth f |jbht te ~f|tjoj~ftc ft ~~c|sjdc.

8/8/2019 Managing Forex Risk_By Indian Firms

7/26

\f`lfxz

1

C`tc|cd j`te Ae|cjb` O||c`oz Dc|jqftjqcs t|f`sfotje`rjth qf|jes lf`ms.

@er keemj`b ft f` cstjiftcd ITI kess ea eqc| \s >O|e|c fs e` Acl|f|z >:.

Thc Vf|tc| c`dj`b j` If|oh V6AZ>: sfr \f`lfxz hjttj`bf `ct kess ea \s216 O|e|c.

\f`lfxz hfs flet $6.4 Ljkkje` j` etstf`dj`b Hcdbcs f`dleemcd f kess ea $:.68 Ljkkje`.

_hf|c ~|jocs ackk lz 4.2#.Lf` e` ?> ^|edot ea \f`lfxz j` S_ fddj`b te jtskesscs.

8/8/2019 Managing Forex Risk_By Indian Firms

8/26

RhftRc`tR|e`b 5

2

C`tc|cd j`te `ic|esAe|cx _t|j~ E~tje`.

F st|j~ js kjmc f sc|jcs ea e~tje` thft ift|c e` oc|tfj` dftcs eqc|f ~c|jed ea tjic+ f`d thcsc oe`t|fots f|c scttkcd e` f ie`thkzlfsjs.

Ft thft tjic S_D)J@\ rfs \s ?:.:>.

\f`lfxz s~cokftcd thft |~cc rekd f~~|cojftc a|thc|.

Hcdbcd jts dekkf| |cocjqflkcs ft \s 4?.3> ft fqc|fbc ea 67

8/8/2019 Managing Forex Risk_By Indian Firms

9/26

Thc _t|ftcbz Sscd

Lebht ^ST e~tje`sa|ei lf`ms.

Lebht ^ST e~tje`sa|ei lf`ms.

_ekd OFKK ,e~tje`s telf`ms

_ekd OFKK ,e~tje`s telf`ms

8

Dekkf| f~~|cojftcd fbfj`st \f`lfxzs cx~cotftje`s.

Lf`ms cxc|ojscd thc OFKK e~tje`.

Kess a|ei afj| qfkftje` ea dc|jqftjqc rfs fke`c \s 284 O|e|c.

8/8/2019 Managing Forex Risk_By Indian Firms

10/26

\f`lfxz F`fkzsjs ea _t|ftcbz

:

_j`oc \f`lfxz hfd e~tcd ae| f ~t f`d f ofkk thc |jsm j` f`zdj|cotje` shekd hfqc lcc` hcdbcd.

Lt thc e~tje` f|c ~|csc`t j` thc |ftje ea 67

8/8/2019 Managing Forex Risk_By Indian Firms

11/26

Rhc` thc qfkc ea `dc|kzj`b dcokj`cs&&

6>

A|ei thc lzc|s ~c|s~cotjqc thclzc| rjkk ifmc f ~|eajt ja thc qfkc ea`dc|kzj b |cdocs lcze`d thc st|jmc~|joc+ thc kess js kjijtcd te thc~|ciji hc ~fzs.

^ST

E~tje`

A|ei thc sckkc|s ~c|s~cotjqc thcsckkc| rjkk hfqc `kjijtcd kess ja thc

qfkc ea `dc|kzj`b becs lcze`dst|jmc ~|joc rhjkc hjs ~|eajt js cvfk tethc ~|ciji ja thc lzc| decs `etcxc|ojsc thc e~tje`.

OFKKE~tje`

8/8/2019 Managing Forex Risk_By Indian Firms

12/26

66

Rhc` thc qfkc ea `dc|kzj`b j`o|cfscs&&

66

A|ei thc sckkc|s ~c|s~cotjqc thcsckkc| rjkk ifmc f ~|eajt te thc^|ciji |cocjqcd j` ofsc thc e~tje`js `et cxc|ojscd+ lt rjkk hfqc f kf|bckess ja thc qfkc ea `dc|kzj`b js kcssthc` thc st|jmc ~|joc.

^ST

E~tje`

Ae| lzc| ~c|s~cotjqc thc lzc| rjkkifmc f ~|eajt e`kz ja thc qfkc ea`dc|kzj b j`o|cfscs lcze`d thc

st|jmc ~|joc+ thc kesscs js kjijtcd lz~|ciji ~fjd.

OFKK

E~tje`

8/8/2019 Managing Forex Risk_By Indian Firms

13/26

\f`lfxz ^|e~escd _ektje`

6