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Part of salary denominated in a foreign (exotic) currency
yakuman
Posts: 7 Forumite
Hello, I have an option at work to denominate a part of salary in a foreign currency for hedging purposes at a fixed rate, e.g. in KZT at a rate of close to GBP:KZT 620 which then gets converted at a current market rate to GBP (now around 420). Needless to say, a very lucrative option, the gain currently is huge...
However, it represents a FX risk - say, KZT collapses below the fixed rate, then i could actually be losing money. The question is, would mortgage underwriters look at this fact that not all my salary is in hard currency and how risky would they perceive it to be?
Many thanks
However, it represents a FX risk - say, KZT collapses below the fixed rate, then i could actually be losing money. The question is, would mortgage underwriters look at this fact that not all my salary is in hard currency and how risky would they perceive it to be?
Many thanks
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