Question: You manage the cash for a large multinational industrial enterprise. As a result of credit sales on 90-day payment terms you have a large claim

You manage the cash for a large multinational industrial enterprise. As a result of credit sales on 90-day payment terms you have a large claim against a customer in Madrid. You have heard rumors of the possible devaluation of the Spanish peseta. What actions, if any, can you take to protect your firm against the consequences of a prospective devaluation?

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