BUSINESS - January 8th 2004 The Budapest Stock Exchange started at the beginning of this year to trade in futures based on the exchange rate differences between the Romanian currency (ROL) and other currencies, as the euro (EUR), US dollar (USD) and Hungarian forint (HUF).
By IOHANNA ONACA PURDEA
The Romanian currency became an interesting commodity for the Hungarians It is the first such market outside Romania where the ROL is traded.
The futures are a sell-and-buy contracts to be paid in the future, at the price set when the contract was sealed. They are valuable financial instruments widely used on international trading markets as insurance against the risk incurred by fluctuations in the exchange rates.
The ROL/HUF transactions were based on a contract for 100 million ROL, said a press-release of the Budapest Stock Exchange.
To arrive at the exchange rate ROL/HUF, the respective exchange rates of the ROL and the HUF against the euro, as listed by the European Central Bank on the day the futures mature, will be used. The futures will mature in March, June, September and December. Also, the price date for maturing would be set two months ahead of it coming to fruition.
Translation: ANCA PADURARU
BUSINESS - January 8th 2004 The Budapest Stock Exchange started at the beginning of this year to trade in futures based on the exchange rate differences between the Romanian currency (ROL) and other currencies, as the euro (EUR), US dollar (USD) and Hungarian forint (HUF).
By IOHANNA ONACA PURDEA
The Romanian currency became an interesting commodity for the Hungarians It is the first such market outside Romania where the ROL is traded.
The futures are a sell-and-buy contracts to be paid in the future, at the price set when the contract was sealed. They are valuable financial instrume
