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ciaoyy · 2020年02月23日

问一道题:NO.PZ2018113001000013

问题如下:

ABC is a China-based company. It will receive €100,000 in one month. The company wants to hedge the exchange risk, so it plans to use a forward contract that is priced at 8.0 RMB/€. Which of following statements is most likely correct?

选项:

A.

ABC will take a short forward position and pay¥800,000

B.

ABC will take a long forward position and receive¥800,000

C.

ABC will take a short forward position and receive¥800,000

解释:

C is correct.

考点:Foreign Currency Risk

解析:

因为该公司未来将收到100,000欧元,担心欧元下降,所以应该卖欧元。这份合约中欧元是base currency,所以 short forward. 到期时支付100,000欧元,收到100,000×8=800,000人民币。

对于本国公司来说,如果到期时收到外币,意味着要支付本币不是吗?为什么不选A?

1 个答案
已采纳答案

xiaowan_品职助教 · 2020年02月24日

同学你好,这道题的意思并不是他要在一个月后用人民币买外币,而是他知道自己将收到一笔欧元,所以他的操作是先用forward合约锁定汇率,然后到期时,用收到的100,000欧元去交割,获得800,000人民币,也就是在0时刻他就锁定了自己在1个月后的收入是800,000人民币。

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