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Chapter 10

Chapter 10



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Published by mathew007
Chapter 10
Chapter 10

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Published by: mathew007 on Feb 10, 2008
Copyright:Attribution Non-commercial


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Chapter Ten
The Foreign ExchangeMarket
10 - 3
 McGraw-Hill/Irwin International Business, 6/e© 2007 The McGraw-Hill Companies, Inc., All Rights Reserved.
Volkswagen’s Hedging Strategy
Volkswagen, Europe’s largestcarmaker, reported a 95% drop in2003 fourth-quarter profitsThe cause for the slump had manyreasons but two causes stood out:
-The unprecedented rise in the valueof the Euro against the dollar -Volkswagen’s decision to onlyhedge 30% of its foreign currencyexposure as opposed to the 70% ithad traditionally hedged

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