FX Forward Hedging Estimator
Estimate the cost or benefit of hedging a foreign-currency exposure back into GBP with a forward contract, using covered interest rate parity, versus staying unhedged.
Dados verificados · julho de 2026
Why is the forward rate different from the spot rate?
The forward rate reflects the interest rate differential between GBP and the foreign currency over the contract term — this is covered interest rate parity, not a forecast of where the spot rate will actually move.
Fonte: Bank of England — official interest rates (bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate); covered interest rate parity (market-standard forward pricing convention), 2025/26. · atualizado 2026
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Tudo sobre FX Forward Hedging Estimator
📋Apresentação+
Forward points are derived from the GBP vs foreign money-market interest rate differential over the contract term: a higher GBP rate than the foreign rate produces a forward premium (forward rate above spot); a lower GBP rate produces a forward discount. This is a planning tool for sizing hedge decisions — actual bank forward quotes include a dealer spread and should be used for execution.
💡 Boas práticas
- A forward contract locks in a rate now, removing FX risk — but if the currency moves in your favour, you give up the upside too.
- This is a planning estimate; get a dealable quote from your bank or FX broker before executing a real hedge.
- Compare the hedged GBP value against your expected future spot scenario to judge whether hedging is worthwhile for your risk appetite.
🔢 Exemplo concreto
€100,000 exposure, spot rate 0.85, GBP rate 5%, foreign rate 3%, 3-month forward: forward rate around 0.8543, valuing the exposure at roughly £85,430 versus £85,000 at spot.
📖Guia de utilização+
Como usar esta calculadora
- 1
Enter the foreign-currency exposure amount and today's spot rate (GBP per unit of foreign currency).
- 2
Enter the GBP and foreign money-market interest rates, and the forward contract term in months.
- 3
Optionally enter a known forward rate to override the computed one.
- 4
Enter an expected future spot rate to compare the hedged outcome against staying unhedged.
📚Glossário+
- Covered interest rate parity
- The market convention linking spot and forward FX rates to the interest rate differential between two currencies — the basis for pricing forward contracts.
- Forward premium / discount
- The amount by which the forward rate exceeds (premium) or falls below (discount) today's spot rate, driven by the interest rate differential between the two currencies.
ℹ️Fontes e atualizações+
Última atualização dos dados
7 de julho de 2026
Fontes e referências
Bank of England — official interest rates (bankofengland.co.uk/monetary-policy/the-interest-rate-bank-rate); covered interest rate parity (market-standard forward pricing convention), 2025/26.
Os dados desta calculadora são atualizados regularmente para refletir as últimas tabelas oficiais. Em caso de dúvida, consulte as fontes oficiais indicadas acima.
FAQ — FX Forward Hedging Estimator
Why is the forward rate different from the spot rate?+
The forward rate reflects the interest rate differential between GBP and the foreign currency over the contract term — this is covered interest rate parity, not a forecast of where the spot rate will actually move.
Should I always hedge my FX exposure?+
Not necessarily — hedging removes uncertainty but also removes upside if the currency moves in your favour. Compare the hedged value against your expected future spot scenario to decide.