TAILIEUCHUNG - Lecture Multinational financial management: Lecture 9 - Dr. Umara Noreen

Lecture 9 - Forecasting exchange rates. After completing this chapter, students will be able to: To explain how firms can benefit from forecasting exchange rates; to describe the common techniques used for forecasting; and to explain how forecasting performance can be evaluated. | Forecasting Exchange Rates 9 Lecture Chapter Objectives To explain how firms can benefit from forecasting exchange rates; To describe the common techniques used for forecasting; and To explain how forecasting performance can be evaluated. MNCs need exchange rate forecasts for their: hedging decisions, short-term financing decisions, short-term investment decisions, capital budgeting decisions, earnings assessments, and long-term financing decisions. Why Firms Forecast Exchange Rates Corporate Motives for Forecasting Exchange Rates Forecasting exchange rates 1QA\ Value of the firm 1QA\ Dollar cash flows Cost of capital Decide whether to obtain financing in foreign currencies Decide whether to hedge foreign currency cash flows Decide whether to invest in foreign projects Decide whether foreign subsidiaries should remit earnings Forecasting Techniques The numerous methods available for forecasting exchange rates can be categorized into four general groups: technical, fundamental, .

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