3)

Suppose Apple, Inc., a US firm, has account receivable in Hungarian Forint (Hungarian currency) due in 25 days. Is it better for Apple to hedge its Hungarian Forint receivable with the Euro futures contracts, Canadian dollar futures contracts, Hungarian Forint futures contracts, or with British pound futures contracts to eliminate the foreign exchange rate risk? Explain your answer. Simply recommending one futures contract is not sufficient. You need to explain why you are recommending one futures contract (or a combination of futures contracts) and not the others.