Brazilian aircraft maker Embraer has been negatively impacted not only by its exposure to changing exchange rates,

Question:

Brazilian aircraft maker Embraer has been negatively impacted not only by its exposure to changing exchange rates, but also by its attempts to limit its exposure through the use of forward contracts. What options other than forward contracts might Embraer have used to limit its foreign exposure?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...