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March/June 2018 Q4 Adverane

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › March/June 2018 Q4 Adverane

  • This topic has 3 replies, 2 voices, and was last updated 4 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
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  • May 13, 2021 at 2:53 pm #620504
    evolution20
    Member
    • Topics: 8
    • Replies: 1
    • ☆

    Hello Sir with respect the Adverane Group why do we use the spot rate of 1.1222?

    May 13, 2021 at 4:30 pm #620518
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54762
    • ☆☆☆☆☆

    Which part of the answer are you referring to – money market hedging or futures?

    May 13, 2021 at 8:44 pm #620530
    evolution20
    Member
    • Topics: 8
    • Replies: 1
    • ☆

    Hi sir both parts.

    May 14, 2021 at 9:04 am #620557
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54762
    • ☆☆☆☆☆

    With money market hedging we always convert at the current spot. We are borrowing $’s converting to CHF now, and then depositing CHF’s.
    1.1222 is the current spot rate for selling $’s.

    As far as futures are concerned we use the lock-in rate, and to calculate it we need to use the current basis i.e. the difference between the current spot rate and the current futures price.

    This is all explained in my free lectures on foreign exchange risk management.

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