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An organization crafting an FX policy as part of their FX management program, What is the most crucial step? Determining the hedging ratio Obtaining approval

An organization crafting an FX policy as part of their FX management program, What is the most crucial step?

Determining the hedging ratio

Obtaining approval by both senior management and the Board of Directors

Decisions on which hedging approach that will be used

Outlining the details of the hedging strategy

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