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Figures


08/02: Do Exporters Cut the Hedge? Who Hedges, When and Why?

Richard Fabling (Reserve Bank of New Zealand), Arthur Grimes (Motu Economic and Public Policy Research)
[ Last Updated 17 March 2008 ]


Figure 1: Share of total NZ$ FOB Value by Transaction Currency

Figure 1: Share of total NZ$ FOB Value by Transaction Currency

→ Full size version of Figure 1 [201 kB JPG]

Figure 2: Share of Total Transactions in Foreign Currency

Figure 2: Share of Total Transactions in Foreign Currency

→ Full size version of figure 2 [149 kB JPG]

Figure 3: Currency of Denomination by Destination (by NZD Value) Average: March 2004-February 2007

Figure 3: Currency of Denomination by Destination (by NZD Value) Average: March 2004-February 2007

→ Full size version of Figure 3 [89 kB JPG]

Figure 4: Percentage of non-NZD Exports Hedged (excludes reexports & non-ENT Customs clients)

Figure 4: Percentage of non-NZD Exports Hedged (excludes reexports & non-ENT Customs clients)

→ Full size version of Figure 4 [59 kB JPG]

Figure 5: Percentage of Covered Lines by Currency (excludes reexports & non-ENT Customs clients)

Figure 5: Percentage of Covered Lines by Currency (excludes reexports & non-ENT Customs clients)

→ Full size version of Figure 5 [70 kB JPG]

Figure 6: Realised Exchange Rates on Hedges - AUD

Figure 6: Realised Exchange Rates on Hedges - AUD

→ Full size version of Figure 6 [75 kB JPG]

Figure 7: Realised Exchange Rates on Hedges - USD

Figure 7: Realised Exchange Rates on Hedges - USD

→ Full size version of Figure 7 [75 kB JPG]

Figure 8: Hedging Rate (hedges/foreign transactions) by 2-digit HS Code Aggregated to Four "Industries"

Figure 8: Hedging Rate (hedges/foreign transactions) by 2-digit HS Code Aggregated to Four

→ Full size version of Figure 8 [92 kB JPG]

Figure 9: Hedging Rate (hedges/foreign transactions) by Monthly Quartile of BAI Sales

Figure 9: Hedging Rate (hedges/foreign transactions) by Monthly Quartile of BAI Sales

→ Full size version of Figure 9 [82 kB JPG]

Figure 10: Hedging Rate (hedges/foreign transactions) by Monthly Quartile of Ratio of BAI Zero-rated Sales to Sales

Figure 10: Hedging Rate (hedges/foreign transactions) by Monthly Quartile of Ratio of BAI Zero-rated Sales to Sales

→ Full size version of Figure 10 [82 kB JPG]

Figure 11: Percentage of Lines Covered by USD Hedges (excludes reexports & non-ENT Customs clients)

Figure 11: Percentage of Lines Covered by USD Hedges (excludes reexports & non-ENT Customs clients)

→ Full size version of Figure 11 [77 kB JPG]

Figure 12: Percentage of Lines Covered by AUS Hedges (excludes reexports & non-ENT Customs clients)

Figure 12: Percentage of Lines Covered by AUS Hedges (excludes reexports & non-ENT Customs clients)

→ Full size version of Figure 12 [74 kB JPG]

Figure 13: Percentage of Lines Covered by Other Fx Hedges (excludes reexports & non-ENT Customs clients)

Figure 13: Percentage of Lines Covered by Other Fx Hedges (excludes reexports & non-ENT Customs clients)

→ Full size version of Figure 13 [77 kB JPG]

Figure 14: Percentage of Lines Covered by USD Hedges and USDNZD Forward Points (both normalised)

Figure 14: Percentage of Lines Covered by USD Hedges and USDNZD Forward Points (both normalised)

→ Full size version of Figure 14 [69 kB JPG]

Figure 15: Percentage of Lines Covered by AUD Hedges and AUDNZD Forward Points (both normalised)

Figure 15: Percentage of Lines Covered by AUD Hedges and AUDNZD Forward Points (both normalised)

→ Full size version of Figure 15 [68 kB JPG]


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