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Foreign currency deposits as virtual derivative

Vol. 19, Iss. 33, SEPTEMBER 2013

Available online: 7 September 2013

Subject Heading: Financial tools

JEL Classification: 

Semenov V.P. Doctor of Economics, Professor of the Department of Higher Mathematics, the Russian Economic University named after G.V. Plekhanov

Ryabikin V.I. Doctor of Economics, Professor of the Department of Insurance, the Russian Economic University named after G.V. Plekhanov

In the article the method of calculation of equivalent profitability (in national currency) investments to foreign currency is presented. It is shown that the currency deposit can be considered as the peculiar bond denominated not in national currency. It is possible to call such asset the virtual derivative (the derivative tool from the currency deposit). The method allows not only to define equivalent profitability, but also to calculate investment risks from positions of national currency. The results of calculations in terms of rubles of profitability and risks from investments of the Russian money to the main reserve world currencies are given. Consequences following from their analysis and arising opportunities are discussed.

Keywords: interest rate, currency course, bonds, derivatives, effective market, quotations, issue, duration, chance quantity, statistic processes

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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