Public sector holds back on FX

"The uncertainty is partly down to companies having to document all the hedges they put in place if they want to qualify for hedge accounting under the new IAS 39 rules," said Kelvin Jouhar, head of FX and FX derivatives at HBOS in London. "The new IAS rules will mean all derivatives will appear on the balance sheet at fair value, and any changes in this fair value will go through the P&L account. This could result in increased earnings volatility, which may be a concern to a company treasurer."

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: