Valutarisiko

Valutarisiko (currency risk) refers to the risk that changes in foreign exchange rates affect the value of assets, liabilities, or cash flows denominated in currencies other than the home currency. It commonly affects multinational corporations, exporters and importers, financial institutions, and investors with international exposure.

There are several forms of valutarisiko. Transaction exposure arises from forecasted or existing foreign-currency cash flows, such as receivables, payables, or debt. Translation exposure occurs when consolidating the financial statements of foreign subsidiaries into the parent currency, causing reported earnings and equity to fluctuate with exchange-rate movements. Economic exposure concerns the longer-term impact of currency movements on a firm’s competitive position and intrinsic value by influencing future cash flows and market share.

Measurement and monitoring involve identifying net positions per currency, estimating potential impacts under different scenarios, and using metrics such as sensitivity analysis or value-at-risk to quantify risk. Regular reporting and governance help align risk appetite with exposure.

Management strategies include natural hedging, by matching the currency of revenues and costs; financial hedging instruments such as forwards, futures, options, and currency swaps; diversification of currencies and counterparties; and contract terms that specify currency or include pricing clauses. Hedge accounting under applicable standards (for example, IFRS or GAAP) may affect how hedges are recorded.

Valutarisiko is not inherently negative, but it introduces volatility to financial results and cash flows. Effective management seeks to balance risk reduction with associated costs and strategic objectives.