For example, the company already knows that it will receive payment of $ 654.38+0 million from customers in three months. The current three-month RMB futures are 6.0. If you buy RMB futures of 6,543.8+0,000 dollars for three months, you can guarantee that the payment of 6,543.8+0,000 dollars received after three months can be bought at the exchange rate of 6.0 (converted into RMB). Avoid the losses caused by the exchange rate decline at that time. For example, if the exchange rate drops by 5.8, the same payment will be converted into RMB only 5.8 million.
The function of options is the same, except that with more options, you can decide whether to exercise them at that time. For example, buy a 3-month RMB put option with an exercise price of 6.0. The exchange rate at maturity is 5.8, that is, US$ 654.38+RMB 00,000 to RMB 5.8 million. At this time, if you choose to exercise, you can buy RMB at the exchange rate of 6.0, and 1 10,000 USD will be converted into RMB 6 million. If the exchange rate at maturity is US$ 6,265,438+0 million, which can be exchanged for 620, we will give up the exercise right and go directly to the market to buy RMB with the payment.