Financing that reduces exchange rate risk. Kerr plc, a major UK exporter of products to Japan, denominates
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Financing that reduces exchange rate risk. Kerr plc, a major UK exporter of products to Japan, denominates its exports in pounds and has no other international business. It can borrow pounds at 9%
to finance its operations or borrow yen at 3%. If it borrows yen, it will be exposed to exchange rate risk. How can Kerr borrow yen and possibly reduce its economic exposure to exchange rate risk?
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