A Vietnamese exporter selling to China is exposed to exchange-rate risk: he pays his workforce in dong, the local currency, but receives payment in dollars.
越南商人向中国出口产品将面临汇率的风险：用本地的越南盾支付员工工资，但是收到的货款却是美元。
2
The World Bank pioneered currency swaps, and USES swaps to protect against foreign exchange and interest rate risk.
世界银行率先使用货币掉期，用以抵御外汇和利率风险。
3
In the presence of exchange controls, it would also be difficult for companies to hedge foreign currencyrisk.