Methods to minimize currency risks in the business of international cargo transportation

The article is devoted to an overview of relevant ways to minimize currency risks in the business of international transportation when interacting with foreign suppliers and customers. The problem of increasing foreign exchange risks in the face of external sanctions pressure from Western countries, as well as tightening internal regulatory and legal conditions for the activities of domestic transport companies, has been updated. The latter, in addition, expanded the list of potential risks associated with the likelihood of violation of legal requirements. When carrying out illegal operations, a fine is imposed on the company with a fixed percentage of the amount of the operation itself. It was clarified that hedging instruments, among which are used delivery and settlement forwards and options on currency pairs, are becoming the most significant and common instruments for managing currency risks. However, their use and availability have declined in 2022; some types of contracts were completely excluded from the system of the OTC derivatives market, which updated the elaboration of their own mechanisms for regulating currency risks. It has been determined that in theoretical works the following system for assessing currency risks is followed: economic and mathematical methods, statistical evaluation and quantitative methods. However, their application allows to form only the basis for the adoption of their own risk management models. Based on the results of the study, the author comes to the following conclusions: the following methods can act as the basis for managing currency risks of a transport company engaged in international transportation: buying currency on the stock exchange or in a bank, establishing specialized conditions for payment for logistics services to foreign companies (suppliers), establishing additional conditions receiving payment from customers for services rendered, buying foreign currency in different periods based on expected forecasts. We believe that in the context of the introduction of certain features of working with currency, this system of methods becomes an effective way to level currency risks under the influence of external sanctions and internal restrictive factors and influences.