NISM Series XIII Common Derivatives Certification Exam Notes
Page 148 Of 303
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Hedging Example - Export:Exporter receiving EUR sells EURINR futures or buys EURINR put options.
Hedging Example - Import:Importer paying USD buys USDINR futures or USDINR call options.
Combined Hedge Impact:Effective rate = impact of spot price change plus futures payoff.
Partial Hedge Example:An importer hedging half exposure adjusts payoff calculation accordingly.
Other Hedging Purposes:Hedging applies to education payments, foreign loans, travel, medical, or investing abroad.
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