HSBC kicks off currency options market in Bangladesh
DHAKA – HSBC has carried out what it claims are the first option trades on the Bangladeshi taka.
The bank acted on behalf of local garment exporter Viyellatex and Coats Bangladesh, the local unit of a UK-based supplier of yarn and other raw materials. The trades were two pairs of zero premium risk reversals, with each of the four trades worth $500,000.
Previously, the only hedging instrument available to importers and exporters was via the spot and forward market, while corporates were only
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