FOREX risk mgt

Hello Prof! In your lecture regarding the above topic, one example you have provided regarding matching involves us borrowing money. I understand how the income and the interest expense will net each other off, but wouldnt the borrowed money be exposed to exchange risk as well?
Also sir,isnt the timing a major factor in matching? If our income and expense arent made in the same exact time and the exchange rates have changed, the net effect wont be 0 right?
Thanks a lot!