DRJ GmbH asks its bank to arrange a non-deliverable currency swap, but in the event the one
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DRJ GmbH asks its bank to arrange a non-deliverable currency swap, but in the event the one offered is not attractive. Instead, the bank offers a cross-currency hedge with the Nigerian naira.
a Explain what is meant by a cross-currency hedge.
b Compare graphs of the EURNGN (Search for Nigerian Central Bank exchange rates online) with EURGHS
(refer to Question 8) and explain why this is relevant.
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