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Your US-Based Firm Is Deciding Between Using Currency Futures Contracts or or a Forward

question 23

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Your U.S.-based firm is deciding between using currency futures contracts or a forward contract with its commercial bank in order to hedge a scheduled dividend from its subsidiary corporation in Germany. The dividend will be repatriated in July, while the currency futures contracts are only available for June or September delivery. Which of the following choices properly hedges the transaction without basis risk?


Definitions:

Standard Deviation

Indicates how dispersed the values in a data set are, relative to the mean of the set.

Chi-Square Values

Statistical measures used in hypothesis testing, especially to determine whether categorical variables are independent.

Interval Estimation

A range of values, calculated from sample data, that is likely to contain the value of an unknown population parameter.

Test Statistic

A value, derived from sample data, used in hypothesis testing to determine whether to reject the null hypothesis.

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