<![CDATA[Free trade in the era of globalization cause the increasing number of cross-border transactions. Cross-border transactions can cause foreign exchange exposure which occurred erratic fluctuations. There are two methods in this study to deal with the foreign exchange exposure, the forward contract hedging and open position. In a study of the financial statements "XYZ" year 2006-2012, there is the fact that the forward contract hedging is applied consistently to PT "XYZ" give more foreign exchange gain that much more when compared to the open position method. However, if explored further, a combination of forward contracts and hedging open positions result in foreign exchange gains greater. But, remember the fluctuations in exchange rates is erratic and difficult to predict the exchange rate, so to minimize the risk of foreign exchange losses and facilitate agreement and certainty of payment will be the amount to be paid at maturity, researcher more suggested to use a forward contract hedging consistently.Keywords : forward, contract, hedging, open, position.]]>
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