Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed Exchange Rate Regime
IMF Working Papers, December 1, 1994
Source details
- Canonical URL
- Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed Exchange Rate Regime
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Bibliographic details
- Authors: Peter M. Garber, Michael G. Spencer
- Published: December 1, 1994
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451857009.001
Authors and publication
- By Peter M. Garber, Michael G. Spencer
- December 1, 1994
- Also published in Staff Papers, Vol. 42, No. 3, September 1995.
- Format citation (Chicago): Peter M. Garber, and Michael G. Spencer "Foreign Exchange Hedging with Synthetic Options and the Interest Rate Defense of a Fixed Exchange Rate Regime", IMF Working Papers 1994, 151 (1994), accessed 9/17/2026, https://doi.org/10.5089/9781451857009.001
Summary and scope
- The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
- This Working Paper addresses topics listed under: Conventional peg, Currencies, Exchange rates, Financial institutions, Financial regulation and supervision, Foreign exchange, Hedging, Money, Options.
Disclaimer
- This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
Subjects and keywords (as listed)
- Subject: Conventional peg, Currencies, Exchange rates, Financial institutions, Financial regulation and supervision, Foreign exchange, Hedging, Money, Options
- Keywords: central bank, Conventional peg, Currencies, currency option, currency put option gamma, derivative product, Exchange rates, exercise price, foreign exchange, forward rate, Global, Hedging, interest rate defense, intrinsic value, option's gamma, Options, options book, OTC options market, put delta, put Delta, put option, WP