Given this possibility the CFO of the company has asked you to recommend an appr
Eureka, Inc., a US-based company does business in Ukraine also. The currency of Ukraine, hryvnia, is very volatile. There is always the possibility that hryvnia will depreciate with respect to the dollar. The company will have to reports its assets in Ukraine at lower value when consolidating its financial statements. Given this possibility the CFO of the company has asked you to recommend an appropriate action.
Value of Ukrainian assets today 60 million hryvnia
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Order Paper NowSpot rate 1USD = 6.70 hryvnia
180 day forward rate: 1 USD = 6.78 hryvnia
Interest rate in US = 6%
Interest rate in Ukraine = 10%
There are no currency options traded on NYSE for hryvnia.
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