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Optimal Foreign Borrowing Strategies with Operations in Forward Exchange Markets

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  • Folks, William R.

Abstract

When a unit of a multinational corporation requires short-term funding, it normally has the opportunity to obtain funds from a number of different sources, both internal and external to the country where these funds will be deployed. The possibility exists for borrowing in a currency other than the local currency of the borrowing unit. The purpose of this paper is to find the optimal currency source or sources for such a loan, when the borrowing unit can enter the forward exchange market for a term equivalent to the time to maturity of the loan.

Suggested Citation

  • Folks, William R., 1978. "Optimal Foreign Borrowing Strategies with Operations in Forward Exchange Markets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 13(2), pages 245-254, June.
    • Handle: RePEc:cup:jfinqa:v:13:y:1978:i:02:p:245-254_00
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