with her newfound awareness of exchange-rate rite, Moreno had gathered additional information on exchange-rate markets, before the meeting with Doug Baker.
The history of the dollar-to-real exchange rate is shown in Exhibit 2. Furthermore, the data in that exhibit provided the more recent information om money markets and an estimate of the expected future (September 5,2006) spot rates from a forecasting service.
The bank helpful as always, had described two ways in which Baker could mitigate the exchange risk from any new order hedge in the forward market or hedge in the money market.