Template-Type: ReDIF-Article 1.0
Author-Name: Katalin Bodnár
Author-Email: bodnark@mnb.hu
Author-Workplace-Name: Magyar Nemzeti Bank (central bank of Hungary)
Title:  Survey evidence on the exchange rate exposure of Hungarian SMEs
Abstract:  During the past year, a survey was conducted among Hungarian small and medium enterprises. The results of the survey
suggest that a significant ratio of companies is directly exposed to fluctuations in the exchange rate, which may
affect their profitability to a large degree. The majority of surveyed companies, however, are not prepared for the potential
effects of such fluctuations and do not use foreign exchange risk management tools. Indebtedness in foreign
exchange could serve as the hedging against exchange rate risks, but enterprises mainly use it to minimise monthly
repayment; therefore, the foreign exchange debt increases their exchange rate risks.
Classification-JEL: C42, F31, G21, G30.
Keywords: exchange rate exposure, FX loans, FX risk management, SME, survey.
Journal: MNB Bulletin
Pages: 6-12
Volume: 1
Issue: 1
Year: 2006
Month: June
File-URL: http://www.mnb.hu/letoltes/mnb-bull-2006-06-katalin-bodnar.pdf
File-Format: Application/pdf

Handle: RePEc:mnb:bullet:v:1:y:2006:i:1:p:6-12