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Currency Forwards

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Featured Course

Currency Forwards

Duration: Half day

Course Overview

At the end of this course participants will be able to

• Describe how foreign exchange markets work
• Describe a forward foreign exchange contract (a forward)
• Explain why forward rates are different to spot rates
• Discuss how forwards are valued and how they impact the NAV
• Outline how forwards can be used to take a positional view on a currency
• Outline how forwards can be used to hedge currency risk on a portfolio of investments or on a currency share class
• Outline briefly the alternatives to using forwards

Course Content

• Foreign exchange markets
  • Spot trades & forward trades
  • Spot exchange rates
  • Interest rates & forward exchange rates
  • Trade confirmation
  • OTC markets

• Valuation
  • Sources for forward rates
  • Forward valuation movements & impact on the NAV

• Uses of forward contracts
  • Positional
  • Hedge of investments
  • Hedge of share classes

• Alternatives to forwards
  • Futures
  • Swaps
  • Options

Who should attend?

Staff with little or no experience of forwards.
Staff with some experience who would like a greater understanding of forwards.

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