A corporation wishing to hedge its exposure to payables could: Purchase a currency call option (or options) representing the currency and amount related to the payables Negotiate a forward contract to sell the amount of foreign currency that will be received as a result of the receivables. Sell a currency futures contract (or contracts) representing the currency and amount related to the receivables. Borrow the currency denominating the receivables, convert it to the local currency, and invest it. Then pay off the loan with cash