productivity measurement to undertake these forward operations would be tantamount to speculating on a fall in the EUR in the first example and productivity measurement rise in the EUR in the second example. The associated exchange risk can be hedged by forward purchase transactions for the currency in question. Naturally, hedging costs are only known for the first period. Deducting the discount from the spot price of 1.3820 gives a forward productivity measurement of 1.3571. However, the fact that the hedging costs for the ensuing period are uncertain is not necessarily a reason to refrain from hedging. However, for the purpose of his calculations, the exporter wants to know the discount (ie the hedging costs) productivity measurement percent pa productivity measurement . For many currencies, it is difficult to conclude forward transactions for more than twelve months. The customer will productivity measurement tell the bank whether he is interested in buying or selling so the bank quotes both bid and asked prices. Regardless of whether they are looking at spot or forward operations, the bid price (purchase price) is always lower than the asked Free Mobile Pokies Games (selling productivity measurement Moreover, the spread has to be wider for forward rates than for spot rates. Foreign currency productivity measurement that have to be hedged can also be generated by a wide range of non-commercial transactions.