To hedge a payables position in a foreign currency with a money market hedge, the MNC would borrow the foreign currency, convert it to dollars, and invest that amount in the United States until the payables are due.

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To hedge a payables position in a foreign currency with a money market hedge, the MNC would borrow dollars, convert them to the foreign currency, and invest that amount in the foreign market until the payables are due.

To Hedge a Payables Position in a Foreign Currency with a Money