إستخدام عقود الخيارات لتحويط مخاطرة أسعار الصرف الأجنبي – دراسة افتراضية

Abstract

The exchange rates risk is one the most important of risks facing importers and exporters goods companies, to encounter these risk, it has to use one of the instruments tools for risk managements .In according to that this study show the nature and use of option contract to protect exchange rate fluctuation of currency in turn decreases the losses resulting from that. This research has two hypotheses:                          -use of currency call options contract for buying currency by commodities importing lead to decrease exchange rate risk which pays it purchases costs.                                                                              

 -use of currency put options contract for selling currency by commodities exporting leads to decrease exchange rate risk for currency which could caught sells price . This study has been drawn set of conclusions ,included      :                

- The use of currency options contracts by importers and exporters of goods allows them to hedge the risk of currency exchange rates, and the same time enable them to take advantage of fluctuations in currency exchange rates which are in their favor.                                                           

- The use of contracts for the option to buy the currency by importers of goods leads to a reduction in the risk of higher prices of dollar by installing the exchange rate of the pound in the future, and made ​​time lead to the achievement of profit is limited at the lower exchange rates of the dollar for the execution price at .maturity         

-The use of option contracts for the sale of the currency by exporter of goods leads to a reduction in the risk of lower exchange rates of the dollar for ways to install the dollar exchange rates in the future, and the same time lead to the achievement of profit is limited at higher exchange rates for the dollar price at the date of execution maturity.