You are a dealer and a customer has just sold you GBP 5 million against EUR for

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You are a dealer and a customer has just sold you GBP 5 million against EUR for value 3 months forward outright. Which of the following are possible ways of hedging your risk, either mostly or completely?

(a) Buy EUR against GBP for value 3 months forward outright.

(b) Buy EUR spot, and also buy and sell EUR against GBP in a 3-month swap.

(c) Buy EUR spot, and also borrow GBP for 3 months, and also lend EUR for 3 months.

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