An investment is _____ if it is fully hedged against exchange-rate risk.
A. risk neutral
B. covered
C. uncovered
D. speculative
查看答案
Concerning the covering of exchange rate risks, assuming that a depreciation of the domestic currency is feared, one can say that there is an incentive for:
A. exporters to rush to cover their future needs.
B. importers to rush to cover their future needs.
C. both exporters and importers to rush to cover their future needs.
D. monetary authorities to rush to cover their future needs.
If Chinese speculators expect the euro to appreciate against the U.S. dollar, they would:
A. purchase Chinese yuan.
B. purchase U.dollars.
C. purchase euros.
D. use Chinese yuan to buy euros, instantly use the euros to buy U.dollars, and then instantly use the U.dollars to buy Chinese yuan.
If the spot price of the euro is $1.17 per euro and the 30-day forward rate is $1.10 per euro, and you believe that the spot rate in 30 days will be $1.15 per euro, then you can try to maximize speculative gains by:
A. buying euros in the current spot market and selling euros in 30 days at the future spot rate.
B. signing a forward foreign exchange contract to sell euros in 30 days.
C. signing a forward foreign exchange contract to sell dollars in 30 days.
D. buying dollars in the spot market and selling the dollars in 30 days at the future spot rate.
For an investor who starts with dollars and wants to end up with dollars in the future, which of the following choices is an example of a covered international investment?
A. Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and sign a forward exchange contract to buy the foreign currency
B. Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and sign a forward exchange contract to buy dollars
C. Sell dollars at the spot rate, invest the proceeds in foreign currency-denominated financial instruments, and then buy dollars at the future spot rate
D. Buy a dollar-denominated financial asset
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