Thuyết trình môn thanh toán quốc tế HEDGING THE EXCHANGE RATE RISK IN EXPORT AND IMPORT

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Thuyết trình môn thanh toán quốc tế HEDGING THE EXCHANGE RATE RISK IN EXPORT AND IMPORT

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Customized and unique (Cá nhân) Public Less liquid (Ít linh động) Liquid (Linh động) Default risk (Rủi ro hủy hợp đồng) No default risk Legal risk (Rủi ro pháp lý) No legal risk No margin account (Không đặt cọc) Margin account Not marked to market Marked to market (Giá thị trường) Futures contracts Hoạt động giao dịch được thực hiện thông qua một tổ chức trung gian gọi là công ty thanh toán bù trừ (clearing... sản cơ sở (ngoại tệ) @ X Put option = cho phép người mua (long) có quyền (không bắt buộc) bán tài sản cơ sở (ngoại tệ) @ X Call St>X Lỗ vốn Hòa vốn (at the money/deep) Hòa vốn St .           HEDGING THE EXCHANGE RATE RISK IN EXPORT AND IMPORT     . khác: • •5,I_ŽDF%%#^5,I•L _<&'12B5<)#H • •5,I_ijD:KF%%#^5,IL_ <&'12B/AEJ<_K&+<)#H Am-Premium cost ≥ Eu-premium cost Call Put d| Sinh lời (in the money) •B$ W| †B$DK57F †B$ r| •B$DRK57F Sinh lời  Ví dụ 13*5A?9H9L'<=A?O )62XYb<[#)x)9Q)5 DXY74ZYF. Q)/)L"#  • Z5t7u78#4K/LQ)5B%TA"#C)NO&J,2&3 • XY74ZY36vuuun6vuw • 4ZY3x9wnw9xy7pK • XY389xnt9xy7pK *5:K$KXY"#C)NQ)/)L"#C)HQ)5<&') <O*EDtF<Tz/5N<5H<L/WXY74ZYW6vuw9BD4ZYFWw9xy7pK9DXYFW 89xy7pK9BZWC)Ww5H *5-K$/)XY"#C)94K/b)<OB*5-Q)K"#C )HQ)K"#<&')<O*EDCFBsNN<59<LKWXY74ZYW6vuuu9 D4ZYFWx9wy7pK9BDZFWt9xy7pKBZWwH  • {<_K3 6H e%&Ja)#J<_K;'<="#H 8H |L<&'}%@Q)&% •. Z&'<_K3 6H YM/A%'B~12'<= 8H !*<)Ef2# CH e)KA0Q)[1<)  ^5[<O$6G76wwu7•e€ZZZG67676wwu9O)<} %O$<)/=K<=JO3OKB O/)MK0$%&'<=,5B+<=,)9 <L"#)@O)BQ)@ O<&')<O#J<_K;'<=H  • Thời gian giao dịch • Điều kiện thực hiện • Ngày thanh toán • Xác định tỷ giá hoán đổi Party Bank Tình huống 13*5K U-)uHXY5<_%A54ZYN

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Mục lục

  • HEDGING THE EXCHANGE RATE RISK IN EXPORT AND IMPORT

  • Forward contracts

  • Forward contracts

  • Forward contracts

  • Forward contracts

  • Forward contracts

  • Swap contracts

  • Slide 8

  • Swap contracts

  • Swap contracts

  • Futures contracts

  • Futures contracts

  • Option

  • Option

  • Option

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