Financial risk management is the practice of identifying, assessing, and managing financial risks that a business may face. These risks may arise due to a variety of factors such as market volatility, credit risks, currency exchange rate fluctuations, interest rate changes, and operational risks. The several financial risks that businesses deal with There are several types of financial risks that businesses face. These risks can be broadly classified into four main categories: Market risk: This type of risk is associated with the potential losses a business may face due to changes in market conditions, such as fluctuations in interest rates, exchange rates, and commodity prices. For example, a business that relies on imported raw materials may be exposed to exchange rate risk if the value of the currency in which the raw materials are denominated increases. Credit risk: This type of risk is associated with the possibility that a borrower or counterparty may default on their...
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