Maestría en Administración - MBA · 2026
Guía práctica para la gestión del riesgo cambiario mediante forwards para pequeñas y medianas empresas en Colombia
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Resumen
Exchange rate volatility in Colombia represents a significant risk factor for small and medium-sized enterprises engaged in transactions denominated in foreign currency. However, in most cases, these firms do not implement formal hedging strategies due to limited technical knowledge, the perceived complexity of financial instruments, and restricted access to specialized advisory services. In this context, the purpose of this study is to design a practical foreign exchange hedging guide based on forward contracts, aimed at facilitating the understanding and implementation of basic exchange rate risk management mechanisms. The research follows a qualitative and descriptive approach based on a literature review on exchange rate risk, derivatives, and financial management. As a result, the main foreign exchange hedging alternatives available in Colombia, their general characteristics, and the principal market providers are identified and described. Subsequently, the study examines forward contracts in greater depth as the most suitable instrument given their flexibility, availability, and ease of application. Likewise, a step-by-step procedure for the implementation of forward hedging strategies is proposed. Overall, this study seeks to provide a useful tool to strengthen financial planning and exchange rate risk management among Colombian SMEs.