Currency derivatives and their applications in Turkey
Author
Nazlı, A. Yekta
Advisor
Çilesiz, Yeşim
Date
1997Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
70
views
views
38
downloads
downloads
Abstract
As a result of increased volatility in freely floating exchange rates, corporations and
individuals were faced with currency risks after the 1970s. In order to manage these risks,
new financial instruments -called derivatives- started to be used worldwide. They are
currently used in a limited manner in Turkey. The main purpose of this thesis is to present
the applications of over-the-counter currency derivatives in Turkey. Throughout the
thesis, the reasons for lagging behind in the use of derivative instruments will be presented.
Finally, policy recommendations will be made for the development of efficient currency
derivatives markets.
Keywords
Currency derivativesOver-the-counter (OTC)
Exchange rate risk
Forwards
Futures
Options
Dual currency loans
Swaps
Exotic options
DKEM
Margin Trading
PSM
MLD