Evaluación del mercado de opciones sobre tasas de cambio: perspectivas para una mejor utilización
Ochoa, I. D. (Iván Darío) | 2014-05-08
Since the Colombian economy is getting more and more globalize and after adopting a floating exchange
rate, the COP has experienced some appreciation that has risen up to 25%. This means considerable
losses to the export sector. And also it should drive towards a culture more active in risk managing to hedge
against foreign exchange volatility, which could avoid significant losses to the import/export sectors in the
future. However, it has been identified that, in spite of the recent volatility of the peso/dollar exchange rate,
there is little advance in developing such a culture. So this article focuses on the investigation done about
the reasons why the mayor Colombian import/export companies had not progressed in forex hedging even
though there is an increasing risk because of the mentioned volatility.
Investigations carried out on those topics above said were complemented with the study of the variables
that determine the market price of options allowed to conclude about the principal reason against
developing a strong culture for hedging against forex risk although this risk has been growing day by day.
Conclusions are also drawn about why the Colombian options market has a very little deep, and which are
the perspectives for a better use of this financial instrument which is identify for several authors as a symbol
of a modern financial market.