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39


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X $10,000
2009 $6,000,00
AB 1 2011 .%4

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31 2009
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$15,250 )*(

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/ $5,250
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39

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20,000 ) ($40,000 31
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20,000 31 2010 )($22
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31 ($24 ) 2010.

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40,000 /
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31 460,000 (20,000*23) 2009


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60,000
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$40,000 .
39 :

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39 .

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-80
%125
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1/11/2009
1/11/2010 60,000,000 .

6,000,000
1/11/2010 .1,5 = 1

:
Spot )Forward (for delivery on 1.11.2010
1.5 :$1 1.45:1 1.11.2009
1.24 :$1 1.2 :1 31.12.2009
)actual (1.0: $1 1.0: 1 1.11.2010

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1/11/2009 31/12/2009
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1/1/2009


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31/12/2009

48,387,097 60) 31/12/2009 (1.24 /


40,000,000 60) 1/11/2009(1.5 /
8,387,097

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)8,620,690 = (60,000,000/1,45 - 60,000,000/1.2

8,387,097 / ) (
/ 8,387,097

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1/11/2010

60,000,000 60) 1/11/2010 (1,0/


48,387,097 60 ) 31/12/2009 (1,24/
11,612,903

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) 60 60 1,0/ = (1,2/
10,000,000


.
11,612,903 = %86 / 10,000,000
125 % - 80 %

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11,612,903 / ) (
10,000,000 /
1,612,903 /

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60,000,000 / ) 60 (1,0/
60,000,000 /

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) (settlement :

/ 20,000,000
/ ) ( 20,000,000


18,387,097
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