{"id":2617,"date":"2023-08-26T22:06:30","date_gmt":"2023-08-26T18:36:30","guid":{"rendered":"https:\/\/econclinic.com\/mag\/financial-derivatives\/"},"modified":"2026-10-08T18:17:36","modified_gmt":"2026-10-08T14:47:36","slug":"financial-derivatives","status":"publish","type":"post","link":"https:\/\/econclinic.com\/mag\/encyclopedia\/financial-derivatives\/","title":{"rendered":"\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><style id=\"econ-card-tokens\" data-no-optimize=\"1\">:root{--ec-navy:#0a0830;--ec-gold:#ccb070;--ec-ink:#3a3a44;--ec-card-bg:rgba(10,8,48,.03);--ec-card-line:rgba(10,8,48,.12);--ec-card-radius:14px;--ec-card-pad:16px 20px;--ec-card-gap:26px;--ec-accent:4px;--ec-h:17px;--ec-h-lh:1.6;--ec-text:14.5px;--ec-text-lh:1.7}@media (max-width:520px){:root{--ec-card-pad:14px 16px;--ec-card-gap:20px}}.econ-toc,.econ-src,.econ-credits,.econ-more{margin:var(--ec-card-gap) 0;padding:var(--ec-card-pad);border-radius:var(--ec-card-radius);border:1px solid var(--ec-card-line);background:var(--ec-card-bg);border-inline-start:var(--ec-accent) solid var(--ec-gold)}.econ-toc .econ-toc__h,.econ-src .econ-src__h,.econ-credits .econ-credits__h,.econ-more .econ-more__h{margin:0 0 10px;font-size:var(--ec-h);font-weight:700;color:var(--ec-navy);line-height:var(--ec-h-lh);text-align:right;text-align-last:auto;padding:0;border:0;letter-spacing:0;opacity:1;text-transform:none}.econ-toc .econ-toc__list,.econ-src .econ-src__list,.econ-cr__bio,.econ-more .econ-more__list{font-size:var(--ec-text);line-height:var(--ec-text-lh)}<\/style><style id=\"econ-toc-css\" data-no-optimize=\"1\">.econ-toc .econ-toc__list{margin:0;padding-inline-start:20px}.econ-toc .econ-toc__list li{margin:0 0 2px}.econ-toc .econ-toc__sub{list-style:none;font-size:.94em;opacity:.85;padding-inline-start:14px}.econ-toc .econ-toc__sub::before{content:\"\u2014\";margin-inline-end:6px;opacity:.5}.econ-toc .econ-toc__list a{color:var(--ec-navy);text-decoration:none;border-bottom:1px solid transparent;box-shadow:none}.econ-toc .econ-toc__list a:hover,.econ-toc .econ-toc__list a:focus{color:var(--ec-navy);text-decoration:none;border-bottom-color:var(--ec-gold)}.econ-toc .econ-toc__tg{position:absolute;opacity:0;width:1px;height:1px;margin:0;pointer-events:none}.econ-toc .econ-toc__h label{cursor:default}@media (max-width:767px){.econ-toc .econ-toc__h{margin-block-end:0}.econ-toc .econ-toc__h label{display:flex;align-items:center;justify-content:space-between;gap:12px;min-height:44px;cursor:pointer}.econ-toc .econ-toc__h label::after{content:\"\";flex:none;width:9px;height:9px;margin-inline-end:4px;border-inline-end:2px solid var(--ec-navy);border-block-end:2px solid var(--ec-navy);transform:rotate(-45deg);transition:transform .2s}.econ-toc .econ-toc__tg:checked~.econ-toc__h label::after{transform:rotate(135deg)}.econ-toc .econ-toc__tg:checked~.econ-toc__h{margin-block-end:12px}.econ-toc .econ-toc__tg:not(:checked)~.econ-toc__list{display:none}.econ-toc .econ-toc__tg:focus-visible~.econ-toc__h label{outline:2px solid var(--ec-gold);outline-offset:4px;border-radius:4px}}@media (prefers-reduced-motion:reduce){.econ-toc .econ-toc__h label::after{transition:none}}<\/style>\n\n\n\n<h2 class=\"wp-block-heading\"><span>\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f \u0627\u0646\u0648\u0627\u0639 \u0622\u0646 \u06a9\u062f\u0627\u0645 \u0627\u0633\u062a\u061f<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span>\u0627\u0646\u0648\u0627\u0639\u060c \u0645\u0644\u0627\u062d\u0638\u0627\u062a\u060c \u0645\u0632\u0627\u06cc\u0627 \u0648 \u0645\u0639\u0627\u06cc\u0628<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>\u0622\u0646\u0686\u0647 \u0634\u0645\u0627 \u0628\u0627\u06cc\u062f \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631 \u0628\u062f\u0627\u0646\u06cc\u062f<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>24 \u062c\u0648\u0644\u0627\u06cc 2023<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0686\u06cc\u0633\u062a\u061f<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u0627\u0635\u0637\u0644\u0627\u062d \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u0647 \u0646\u0648\u0639\u06cc \u0627\u0632 <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u0627\u0644\u06cc<\/b> \u06a9\u0647 \u0627\u0631\u0632\u0634 \u0622\u0646 \u0628\u0647 \u06cc\u06a9 <b>\u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 <\/b><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn1\" name=\"_ftnref1\"><sup>[1]<\/sup><\/a><\/span>\u060c <b>\u06af\u0631\u0648\u0647\u06cc \u0627\u0632 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627<\/b> \u06cc\u0627 \u06cc\u06a9 <b>\u0634\u0627\u062e\u0635<\/b> \u0648\u0627\u0628\u0633\u062a\u0647 \u0627\u0633\u062a \u0627\u0634\u0627\u0631\u0647 \u062f\u0627\u0631\u062f. \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u06cc\u0646 <b>\u062f\u0648<\/b> \u06cc\u0627 <b>\u0686\u0646\u062f \u0637\u0631\u0641<\/b> \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f \u06a9\u0647 \u062f\u0631 \u0628\u0648\u0631\u0633 \u06cc\u0627 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633 (OTC) <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn2\" name=\"_ftnref2\"><sup>[2]<\/sup><\/a><\/span> \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0622\u0646 \u0631\u0627 \u0645\u0639\u0627\u0645\u0644\u0647 \u06a9\u0646\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0627\u0632 \u0627\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0628\u0631\u0627\u06cc \u0645\u0639\u0627\u0645\u0644\u0647 \u0647\u0631 \u062a\u0639\u062f\u0627\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc \u06a9\u0647 \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0645\u0631\u0628\u0648\u0637 \u0628\u0647 \u062e\u0648\u062f \u0631\u0627 \u062f\u0627\u0631\u0646\u062f\u060c \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0631\u062f. \u0642\u06cc\u0645\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0632 \u0646\u0648\u0633\u0627\u0646\u0627\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0645\u0634\u062a\u0642 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0627\u06cc\u0646 \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631 \u0645\u0627\u0644\u06cc \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0628\u0631\u0627\u06cc \u062f\u0633\u062a\u0631\u0633\u06cc \u0628\u0647 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062e\u0635 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0628\u0631\u0627\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn3\" name=\"_ftnref3\"><sup>[3]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0645\u0639\u0627\u0645\u0644\u0647 \u0634\u0648\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0628\u0631\u0627\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u06a9\u0627\u0647\u0634 \u0631\u06cc\u0633\u06a9<\/b><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062a\u062d\u0645\u0644 \u0631\u06cc\u0633\u06a9<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0631 \u0645\u0642\u0627\u0628\u0644 \u067e\u0627\u062f\u0627\u0634 \u0645\u062a\u0646\u0627\u0633\u0628 \u0628\u0627 \u0622\u0646 (<\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc<\/b><span style=\"text-align: var(--text-align)\">) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn4\" name=\"_ftnref4\"><sup>[4]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0631\u062f. \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0631\u06cc\u0633\u06a9 (\u0648 \u067e\u0627\u062f\u0627\u0634\u200c\u0647\u0627\u06cc \u0647\u0645\u0631\u0627\u0647 \u0628\u0627 \u0622\u0646) \u0631\u0627 \u0627\u0632 \u0627\u0634\u062e\u0627\u0635 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9\u200c\u06af\u0631\u06cc\u0632<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9\u200c\u067e\u0630\u06cc\u0631\u0627\u0646<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u0646\u062a\u0642\u0644 \u06a9\u0646\u0646\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><span>\u0646\u06a9\u0627\u062a \u06a9\u0644\u06cc\u062f\u06cc<\/span><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>1- \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0646\u0648\u0639\u06cc \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc \u0647\u0633\u062a\u0646\u062f \u06a9\u0647 \u0628\u06cc\u0646 \u062f\u0648 \u06cc\u0627 \u0686\u0646\u062f \u0637\u0631\u0641 \u062a\u0646\u0638\u06cc\u0645 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f \u0648 \u0627\u0631\u0632\u0634 \u0622\u0646\u200c\u0647\u0627 \u0648\u0627\u0628\u0633\u062a\u0647 \u0628\u0647 \u06cc\u06a9 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647\u060c \u06af\u0631\u0648\u0647\u06cc \u0627\u0632 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627 \u06cc\u0627 \u0634\u0627\u062e\u0635 \u0627\u0633\u062a.<\/span><br><span>2- \u06cc\u06a9 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u062f\u0631 \u0628\u0648\u0631\u0633 \u06cc\u0627 \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633 (OTC) \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0645\u0639\u0627\u0645\u0644\u0647 \u0634\u0648\u062f.<\/span><br><span>3- \u0642\u06cc\u0645\u062a \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0646\u0627\u0634\u06cc \u0627\u0632 <b>\u0646\u0648\u0633\u0627\u0646\u0627\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b> \u0622\u0646\u0647\u0627\u0633\u062a.<\/span><br><span>4- \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0627\u0647\u0631\u0645\u200c\u0634\u062f\u0647\u200c\u0627\u06cc \u0647\u0633\u062a\u0646\u062f \u06a9\u0647 \u0627\u06cc\u0646 \u0627\u0645\u0631 <b>\u0631\u06cc\u0633\u06a9<\/b> \u0648 <b>\u067e\u0627\u062f\u0627\u0634<\/b> \u0628\u0627\u0644\u0642\u0648\u0647 \u0622\u0646\u200c\u0647\u0627 \u0631\u0627 \u0627\u0641\u0632\u0627\u06cc\u0634 \u0645\u06cc\u200c\u062f\u0647\u062f.<br><\/span><span><span style=\"text-align: var(--text-align)\">5- \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0631\u0627\u06cc\u062c \u0634\u0627\u0645\u0644 <\/span><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0622\u062a\u06cc<\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\"> (Futures) <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn5\" name=\"_ftnref5\"><sup>[5]<\/sup><\/a><\/span>\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0633\u0644\u0641<\/b><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0633\u0644\u0641\u200c\u0647\u0627<\/a><\/span><span style=\"text-align: var(--text-align)\"> (Forwards) <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn6\" name=\"_ftnref6\"><sup>[6]<\/sup><\/a><\/span>\u060c <\/span><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d9%85%d8%b4%d8%aa%d9%82%d8%a7%d8%aa-%d9%85%d8%a7%d9%84%db%8c-%d8%a7%d8%ae%d8%aa%db%8c%d8%a7%d8%b1%d8%a7%d8%aa\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631<\/a><\/span> <span style=\"text-align: var(--text-align)\">(Options) <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn7\" name=\"_ftnref7\"><sup>[7]<\/sup><\/a><\/span> \u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\"> (Swaps) <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn8\" name=\"_ftnref8\"><sup>[8]<\/sup><\/a><\/span> \u0627\u0633\u062a.<\/span><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/what-is-financial-risk-management\/\" target=\"_blank\" rel=\"noopener\">\u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9 \u0645\u0627\u0644\u06cc<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u062f\u0631\u06a9 \u0645\u0634\u062a\u0642\u0627\u062a<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0646\u0648\u0639\u06cc \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631 \u0645\u0627\u0644\u06cc \u067e\u06cc\u0686\u06cc\u062f\u0647 \u0627\u0633\u062a \u06a9\u0647 \u0628\u06cc\u0646 \u062f\u0648 \u06cc\u0627 \u0686\u0646\u062f \u0637\u0631\u0641 \u0628\u0647 \u06a9\u0627\u0631 \u06af\u0631\u0641\u062a\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0628\u0631\u0627\u06cc \u062f\u0633\u062a\u0631\u0633\u06cc \u0628\u0647 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062e\u0635 \u0648 \u0645\u0639\u0627\u0645\u0644\u0647 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u0645\u062e\u062a\u0644\u0641 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f. \u0639\u0645\u0648\u0645\u0627 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u062f\u0631 \u0642\u0627\u0644\u0628 <b>\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u067e\u06cc\u0634\u0631\u0641\u062a\u0647<\/b> \u0644\u062d\u0627\u0638 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f. \u0631\u0627\u06cc\u062c\u200c\u062a\u0631\u06cc\u0646 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u067e\u0627\u06cc\u0647 \u0628\u0631\u0627\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0634\u0627\u0645\u0644 <b>\u0633\u0647\u0627\u0645<\/b>\u060c <b>\u0627\u0648\u0631\u0627\u0642 \u0642\u0631\u0636\u0647<\/b>\u060c <b>\u06a9\u0627\u0644\u0627\u0647\u0627<\/b>\u060c <b>\u0627\u0631\u0632\u0647\u0627<\/b>\u060c <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/what-is-interest-rate\/\" target=\"_blank\" rel=\"noopener\">\u0646\u0631\u062e \u0628\u0647\u0631\u0647<\/a><\/span> \u0648 <b>\u0634\u0627\u062e\u0635\u200c\u0647\u0627\u06cc \u0628\u0627\u0632\u0627\u0631<\/b> \u0647\u0633\u062a\u0646\u062f. \u0627\u0631\u0632\u0634 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u0647 \u062a\u063a\u06cc\u06cc\u0631\u0627\u062a \u062f\u0631 <b>\u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b> \u0628\u0633\u062a\u06af\u06cc \u062f\u0627\u0631\u062f.<br><span style=\"text-align: var(--text-align)\">\u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0628\u0631\u0627\u06cc \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u0645\u0639\u0627\u0645\u0644\u0647\u060c \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u0631\u0648\u06cc \u062c\u0647\u062a \u062d\u0631\u06a9\u062a \u06cc\u06a9 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u06cc\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0628\u0647\u200c\u0639\u0646\u0648\u0627\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0647\u0631\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0631\u0627\u06cc \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0631\u062f. \u0627\u06cc\u0646 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627 \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u062f\u0631 \u0628\u0648\u0631\u0633 \u06cc\u0627 \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633 \u0648 \u0627\u0632 \u0637\u0631\u06cc\u0642 \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u06cc\u200c\u0647\u0627 \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f. <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0628\u0648\u0631\u0633 \u06a9\u0627\u0644\u0627\u06cc \u0634\u06cc\u06a9\u0627\u06af\u0648<\/b><span style=\"text-align: var(--text-align)\"> (CME) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn9\" name=\"_ftnref9\"><sup>[9]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u06a9\u06cc \u0627\u0632 \u0628\u0632\u0631\u06af\u062a\u0631\u06cc\u0646 \u0628\u0648\u0631\u0633\u200c\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u062f\u0631 \u062c\u0647\u0627\u0646 \u0627\u0633\u062a.<br><\/span><span style=\"text-align: var(--text-align)\">\u062f\u0631\u06a9 \u0627\u06cc\u0646 \u0646\u06a9\u062a\u0647 \u0645\u0647\u0645 \u0627\u0633\u062a \u06a9\u0647 \u0648\u0642\u062a\u06cc \u0634\u0631\u06a9\u062a\u200c\u0647\u0627 \u0631\u06cc\u0633\u06a9 \u0631\u0627 \u067e\u0648\u0634\u0634 \u0645\u06cc\u200c\u062f\u0647\u0646\u062f\u060c \u0631\u0648\u06cc \u0642\u06cc\u0645\u062a \u06a9\u0627\u0645\u0648\u062f\u06cc\u062a\u06cc \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u0646\u0645\u06cc\u200c\u06a9\u0646\u0646\u062f. \u062f\u0631 \u0639\u0648\u0636\u060c \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u0635\u0631\u0641\u0627\u064b \u06cc\u06a9 \u0631\u0627\u0647 <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/education\/risk-management-complete-guide\/\" target=\"_blank\" rel=\"noopener\">\u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9<\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u0631\u0627\u06cc \u0647\u0631\u06cc\u06a9 \u0627\u0632 \u0637\u0631\u0641\u06cc\u0646 \u0645\u0639\u0627\u0645\u0644\u0647 \u0627\u0633\u062a. \u0647\u0631 \u06cc\u06a9 \u0627\u0632 \u0637\u0631\u0641\u06cc\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062d\u0627\u0634\u06cc\u0647 \u0633\u0648\u062f<\/b><span style=\"text-align: var(--text-align)\"> \u062e\u0648\u062f \u0631\u0627 \u062f\u0631 \u0642\u06cc\u0645\u062a \u062f\u0631 \u0646\u0638\u0631 \u06af\u0631\u0641\u062a\u0647 \u0627\u0633\u062a \u0648 \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u0628\u0647 \u0645\u062d\u0627\u0641\u0638\u062a \u0627\u0632 \u0622\u0646 \u0633\u0648\u062f\u0647\u0627 \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 \u0627\u0632 \u062f\u0633\u062a \u0631\u0641\u062a\u0646 \u062a\u0648\u0633\u0637 \u062a\u063a\u06cc\u06cc\u0631\u0627\u062a \u0642\u06cc\u0645\u062a \u0628\u0627\u0632\u0627\u0631 \u06a9\u0627\u0644\u0627 \u06a9\u0645\u06a9 \u0645\u06cc\u200c\u06a9\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0627\u0648\u0631\u0627\u0642 \u0645\u0634\u062a\u0642\u0647 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u0634\u062f\u0647 \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633 \u0639\u0645\u0648\u0645\u0627\u064b \u062f\u0627\u0631\u0627\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644<\/b><span style=\"text-align: var(--text-align)\"> (Counterparty Risk) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn10\" name=\"_ftnref10\"><sup>[10]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u06cc\u0634\u062a\u0631\u06cc \u0647\u0633\u062a\u0646\u062f\u060c \u06a9\u0647 \u0628\u0647 \u0645\u0639\u0646\u06cc \u062e\u0637\u0631 \u0627\u062d\u062a\u0645\u0627\u0644 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u06a9\u0648\u0644<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn11\" name=\"_ftnref11\"><sup>[11]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u06a9\u06cc \u0627\u0632 \u0637\u0631\u0641\u06cc\u0646 \u062f\u0631\u06af\u06cc\u0631 \u062f\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0627\u0633\u062a. \u0627\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627 \u0628\u06cc\u0646 \u062f\u0648 \u0637\u0631\u0641 \u062e\u0635\u0648\u0635\u06cc \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u0645\u0642\u0631\u0631\u0627\u062a\u200c\u06af\u0630\u0627\u0631\u06cc \u0646\u0634\u062f\u0647\u200c\u0627\u0646\u062f. \u0628\u0631\u0627\u06cc \u067e\u0648\u0634\u0634 \u0627\u06cc\u0646 \u0631\u06cc\u0633\u06a9\u060c \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u06cc\u06a9 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0627\u0631\u0632<\/b><span style=\"text-align: var(--text-align)\"> \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u06a9\u0646\u062f \u062a\u0627 \u062f\u0631 \u0646\u0631\u062e \u0645\u0628\u0627\u062f\u0644\u0647 \u0627\u0631\u0632 \u0645\u0634\u062e\u0635\u06cc \u0642\u0641\u0644 \u06a9\u0646\u062f. \u0645\u0634\u062a\u0642\u0627\u062a\u06cc \u06a9\u0647 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0631\u0627\u06cc \u067e\u0648\u0634\u0634 \u0627\u06cc\u0646 \u0646\u0648\u0639 \u0631\u06cc\u0633\u06a9 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0634\u0648\u0646\u062f \u0634\u0627\u0645\u0644 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0627\u0631\u0632<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn12\" name=\"_ftnref12\"><sup>[12]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0627\u0631\u0632<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn13\" name=\"_ftnref13\"><sup>[13]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0647\u0633\u062a\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u067e\u0630\u06cc\u0631 \u062f\u0631 \u0628\u0648\u0631\u0633 \u0646\u0633\u0628\u062a \u0628\u0647 \u0622\u0646\u200c\u0647\u0627\u06cc\u06cc \u06a9\u0647 \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633 \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f \u0627\u0633\u062a\u0627\u0646\u062f\u0627\u0631\u062f \u0634\u062f\u0647 \u0648 \u0645\u0642\u0631\u0631\u0627\u062a \u0633\u062e\u062a\u200c\u06af\u06cc\u0631\u0627\u0646\u0647\u200c\u0627\u06cc \u062f\u0627\u0631\u0646\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><aside class=\"ec-cc\" role=\"complementary\" aria-label=\"\u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc (\u0645\u0634\u062a\u0642\u0627\u062a): \u0622\u062a\u06cc\u200c\u0647\u0627 \u0648 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a\">\n\t\t<a class=\"ec-cc__thumb\" href=\"https:\/\/econclinic.com\/\u062f\u0648\u0631\u0647-\u0647\u0627\u06cc-\u0622\u0645\u0648\u0632\u0634\u06cc\/%d8%af%d9%88%d8%b1%d9%87-%d9%85%d8%af%db%8c%d8%b1%db%8c%d8%aa-%d8%b1%db%8c%d8%b3%da%a9%d9%87%d8%a7%db%8c-%d9%85%d8%a7%d9%84%db%8c-%d9%85%d8%b4%d8%aa%d9%82%d8%a7%d8%aa\/\" tabindex=\"-1\" aria-hidden=\"true\"><img class=\"ec-cc__img\" src=\"https:\/\/econclinic.com\/wp-content\/uploads\/2024\/11\/Financial-Risk-Management-Derivatives-Futures-Options-Course-EconClinic.jpg.jpg.webp\" width=\"750\" height=\"400\" alt=\"\u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9 \u0645\u0627\u0644\u06cc - \u0645\u0634\u062a\u0642\u0627\u062a - \u0641\u06cc\u0648\u0686\u0631\u0632 \u0648 \u0645\u0639\u0627\u0645\u0644\u0627\u062a \u0622\u067e\u0634\u0646 - \u062f\u06a9\u062a\u0631 \u0633\u0639\u062f\u0648\u0646\u062f\u06cc\" loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/econclinic.com\/wp-content\/uploads\/2024\/11\/Financial-Risk-Management-Derivatives-Futures-Options-Course-EconClinic.jpg.jpg.webp 750w, https:\/\/econclinic.com\/wp-content\/uploads\/2024\/11\/Financial-Risk-Management-Derivatives-Futures-Options-Course-EconClinic.jpg.jpg-300x160.webp 300w, https:\/\/econclinic.com\/wp-content\/uploads\/2024\/11\/Financial-Risk-Management-Derivatives-Futures-Options-Course-EconClinic.jpg.jpg-600x320.webp 600w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\"><\/a>\n\t\t<div class=\"ec-cc__body\">\n\t\t\t\t<ul class=\"ec-cc__meta\"><li>\u06f5\u06f5 \u0633\u0627\u0639\u062a<\/li><li>\u06f2\u06f5 \u062f\u0627\u0646\u0634\u200c\u067e\u0698\u0648\u0647<\/li><\/ul>\n\t\t\t\t\t\t<div class=\"ec-cc__prices\">\n\t\t\t<span class=\"ec-cc__price\">\u06f2\u06f8\u066c\u06f4\u06f4\u06f0\u066c\u06f0\u06f0\u06f0 <span class=\"ec-cc__unit\">\u062a\u0648\u0645\u0627\u0646<\/span><\/span>\n\t\t\t\t\t\t<del class=\"ec-cc__was\">\u06f4\u06f3\u066c\u06f2\u06f0\u06f0\u066c\u06f0\u06f0\u06f0<\/del>\n\t\t\t\t\t<\/div>\n\t\t\t\t<a class=\"ec-cc__cta\" href=\"https:\/\/econclinic.com\/\u062f\u0648\u0631\u0647-\u0647\u0627\u06cc-\u0622\u0645\u0648\u0632\u0634\u06cc\/%d8%af%d9%88%d8%b1%d9%87-%d9%85%d8%af%db%8c%d8%b1%db%8c%d8%aa-%d8%b1%db%8c%d8%b3%da%a9%d9%87%d8%a7%db%8c-%d9%85%d8%a7%d9%84%db%8c-%d9%85%d8%b4%d8%aa%d9%82%d8%a7%d8%aa\/\" aria-label=\"\u0645\u0634\u0627\u0647\u062f\u0647\u0654 \u062f\u0648\u0631\u0647 \u2014 \u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc (\u0645\u0634\u062a\u0642\u0627\u062a): \u0622\u062a\u06cc\u200c\u0647\u0627 \u0648 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a\">\n\t\t\t\u0645\u0634\u0627\u0647\u062f\u0647\u0654 \u062f\u0648\u0631\u0647\t\t\t<svg viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M15 5l-7 7 7 7\"\/><\/svg>\n\t\t<\/a>\n\t<\/div>\n<\/aside>\n\t\t\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/frm-certification\/\" target=\"_blank\" rel=\"noopener\">\u06af\u0648\u0627\u0647\u06cc\u0646\u0627\u0645\u0647 \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9 \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0645\u0644\u0627\u062d\u0638\u0627\u062a \u062e\u0627\u0635 \u062f\u0631\u0628\u0627\u0631\u0647 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u062f\u0631 \u0627\u0635\u0644 \u0628\u0631\u0627\u06cc \u062a\u0636\u0645\u06cc\u0646 <b>\u0646\u0631\u062e \u0645\u0628\u0627\u062f\u0644\u0647 \u0627\u0631\u0632 \u062a\u0639\u0627\u062f\u0644\u06cc<\/b> \u0628\u0631\u0627\u06cc \u06a9\u0627\u0644\u0627\u0647\u0627\u06cc \u0628\u06cc\u0646\u200c\u0627\u0644\u0645\u0644\u0644\u06cc \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u062f\u0646\u062f. \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u0628\u06cc\u0646\u200c\u0627\u0644\u0645\u0644\u0644\u06cc\u060c \u0633\u06cc\u0633\u062a\u0645\u06cc \u0631\u0627 \u0628\u0631\u0627\u06cc \u0645\u062d\u0627\u0633\u0628\u0647 \u0645\u0642\u0627\u062f\u06cc\u0631 \u062f\u0631 \u062d\u0627\u0644 \u062a\u063a\u06cc\u06cc\u0631 \u0627\u0631\u0632\u0647\u0627\u06cc \u0645\u0644\u06cc \u0646\u06cc\u0627\u0632 \u062f\u0627\u0634\u062a\u0646\u062f.<br>\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u06cc\u06a9 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0627\u0631\u0648\u067e\u0627\u06cc\u06cc \u062d\u0633\u0627\u0628\u200c\u0647\u0627\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u062f\u0627\u0631\u062f \u06a9\u0647 \u0647\u0645\u0647 \u0622\u0646\u200c\u0647\u0627 \u0628\u0647 \u0627\u0631\u0632 \u06cc\u0648\u0631\u0648 (EUR) \u0647\u0633\u062a\u0646\u062f. \u062f\u0631 \u0646\u0638\u0631 \u0628\u06af\u06cc\u0631\u06cc\u062f \u0648\u06cc \u0633\u0647\u0627\u0645 \u06cc\u06a9 <b>\u0634\u0631\u06a9\u062a \u0622\u0645\u0631\u06cc\u06a9\u0627\u06cc\u06cc<\/b> \u0631\u0627 \u0627\u0632 \u0637\u0631\u06cc\u0642 \u0628\u0648\u0631\u0633 \u0627\u06cc\u0627\u0644\u0627\u062a \u0645\u062a\u062d\u062f\u0647 \u0628\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0627\u0632 \u062f\u0644\u0627\u0631 \u0622\u0645\u0631\u06cc\u06a9\u0627 (USD) \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0627\u06cc\u0646 \u0628\u062f\u0627\u0646 \u0645\u0639\u0646\u0627\u0633\u062a \u06a9\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0627\u0631\u0648\u067e\u0627\u06cc\u06cc \u0645\u0627\u062f\u0627\u0645\u06cc\u200c\u06a9\u0647 \u0622\u0646 \u0633\u0647\u0627\u0645 \u0631\u0627 \u062f\u0627\u0631\u062f \u062f\u0631 \u0645\u0639\u0631\u0636 <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/exchange-rate-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u0627\u0631\u0632<\/a><\/span> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn14\" name=\"_ftnref14\"><sup>[14]<\/sup><\/a><\/span> \u0627\u0633\u062a. \u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u0627\u0631\u0632 \u062a\u0647\u062f\u06cc\u062f\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0627\u0631\u0632\u0634 \u06cc\u0648\u0631\u0648 \u0646\u0633\u0628\u062a \u0628\u0647 \u062f\u0644\u0627\u0631 \u0622\u0645\u0631\u06cc\u06a9\u0627 \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u062f. \u062f\u0631\u0635\u0648\u0631\u062a \u0631\u062e\u200c\u062f\u0627\u062f\u0646 \u0627\u06cc\u0646 \u0627\u0645\u0631 \u0647\u0631 \u0633\u0648\u062f\u06cc \u06a9\u0647 \u0628\u0631\u0627\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u067e\u0633 \u0627\u0632 \u0641\u0631\u0648\u0634 \u0633\u0647\u0627\u0645 \u0645\u062d\u0642\u0642 \u0634\u0648\u062f\u060c \u0648\u0642\u062a\u06cc \u0628\u0647 \u06cc\u0648\u0631\u0648 \u062a\u0628\u062f\u06cc\u0644 \u0645\u06cc\u200c\u0634\u0648\u062f \u0627\u0631\u0632\u0634 \u06a9\u0645\u062a\u0631\u06cc \u067e\u06cc\u062f\u0627 \u0645\u06cc\u200c\u06a9\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u06a9\u0647 \u0627\u0646\u062a\u0638\u0627\u0631 \u062f\u0627\u0631\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u06cc\u0648\u0631\u0648<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u062f\u060c \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0628\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0627\u0632 \u06cc\u06a9 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u06a9\u0647 \u0627\u0631\u0632\u0634 \u0622\u0646 \u0628\u0627 \u06cc\u0648\u0631\u0648 \u0627\u0641\u0632\u0627\u06cc\u0634 \u0645\u06cc\u200c\u06cc\u0627\u0628\u062f \u0633\u0648\u062f \u06a9\u0646\u062f. \u0647\u0646\u06af\u0627\u0645 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0628\u0631\u0627\u06cc \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u0631\u0648\u06cc \u062a\u063a\u06cc\u06cc\u0631 \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647\u060c \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0646\u06cc\u0627\u0632\u06cc \u0628\u0647 \u062f\u0627\u0634\u062a\u0646 \u06cc\u0627 \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u062f\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0648\u0631\u062a\u0641\u0648\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u062e\u0648\u062f \u0646\u062f\u0627\u0631\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><span>\u0646\u06a9\u062a\u0647 \u0633\u0631\u06cc\u0639<\/span><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 <strong>\u0627\u0647\u0631\u0645<\/strong> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn15\" name=\"_ftnref15\"><sup>[15]<\/sup><\/a><\/span> \u062f\u0627\u0631\u0646\u062f\u060c \u0628\u0647 \u0627\u06cc\u0646 \u0645\u0639\u0646\u06cc \u06a9\u0647 \u0628\u0631\u0627\u06cc \u06a9\u0633\u0628 \u0633\u0648\u062f \u062f\u0631 \u062d\u062c\u0645 \u0632\u06cc\u0627\u062f\u06cc \u0627\u0632 \u0627\u0631\u0632\u0634 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647\u060c \u0628\u0647 \u0645\u0642\u062f\u0627\u0631 \u06a9\u0645\u06cc \u0633\u0631\u0645\u0627\u06cc\u0647 \u0646\u06cc\u0627\u0632 \u0627\u0633\u062a.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/education\/risk-management-complete-guide\/\" target=\"_blank\" rel=\"noopener\">\u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9 \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0627\u0646\u0648\u0627\u0639 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u0627\u0645\u0631\u0648\u0632\u0647 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0628\u0631 \u0627\u0633\u0627\u0633 \u0627\u0646\u0648\u0627\u0639 \u0645\u062e\u062a\u0644\u0641\u06cc \u0627\u0632 \u062a\u0639\u0627\u0645\u0644\u0627\u062a \u0628\u0646\u0627 \u0634\u062f\u0647\u200c\u0627\u0646\u062f \u0648 \u06a9\u0627\u0631\u0628\u0631\u062f\u0647\u0627\u06cc \u0628\u0633\u06cc\u0627\u0631 \u0632\u06cc\u0627\u062f\u06cc \u062f\u0627\u0631\u0646\u062f. \u062d\u062a\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0628\u0631 \u0627\u0633\u0627\u0633 \u062f\u0627\u062f\u0647\u200c\u0647\u0627\u06cc <b>\u0622\u0628 \u0648 \u0647\u0648\u0627<\/b>\u060c \u0645\u0627\u0646\u0646\u062f <b>\u0645\u06cc\u0632\u0627\u0646 \u0628\u0627\u0631\u0627\u0646<\/b> \u06cc\u0627 <b>\u062a\u0639\u062f\u0627\u062f \u0631\u0648\u0632\u0647\u0627\u06cc \u0622\u0641\u062a\u0627\u0628\u06cc<\/b> \u062f\u0631 \u06cc\u06a9 \u0645\u0646\u0637\u0642\u0647 \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f.<br><span style=\"text-align: var(--text-align)\">\u0627\u0646\u0648\u0627\u0639 \u0645\u062e\u062a\u0644\u0641\u06cc \u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f \u06a9\u0647 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0631\u0627\u06cc \u0645\u062f\u06cc\u0631\u06cc\u062a \u0631\u06cc\u0633\u06a9\u060c \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u0648 \u0627\u0647\u0631\u0645 \u06a9\u0631\u062f\u0646 \u06cc\u06a9 \u0645\u0648\u0642\u0639\u06cc\u062a \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0634\u0648\u0646\u062f. \u0628\u0627\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u062f\u0631 \u062d\u0627\u0644 \u0631\u0634\u062f \u0627\u0633\u062a \u0648 \u0645\u062d\u0635\u0648\u0644\u0627\u062a\u06cc \u0631\u0627 \u0645\u062a\u0646\u0627\u0633\u0628 \u0628\u0627 \u0647\u0631 \u0646\u06cc\u0627\u0632 \u06cc\u0627 \u0622\u0633\u062a\u0627\u0646\u0647 \u0631\u06cc\u0633\u06a9 \u0639\u0631\u0636\u0647 \u0645\u06cc\u200c\u06a9\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u062f\u0648 \u062f\u0633\u062a\u0647 \u0627\u0632 \u0645\u062d\u0635\u0648\u0644\u0627\u062a \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f: &#8220;<\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u0641\u0644\u200c\u0634\u062f\u0647<\/b><span style=\"text-align: var(--text-align)\">&#8221; \u0648 &#8220;<\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062e\u062a\u06cc\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\">&#8220;. \u0645\u062d\u0635\u0648\u0644\u0627\u062a \u0642\u0641\u0644\u200c\u0634\u062f\u0647 (\u0645\u0627\u0646\u0646\u062f <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0622\u062a\u06cc\u200c\u0647\u0627<\/a><\/span><span style=\"text-align: var(--text-align)\">\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0633\u0644\u0641\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\">) \u0637\u0631\u0641\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0631\u0627 \u0627\u0632 \u0627\u0628\u062a\u062f\u0627 \u0628\u0647 \u0634\u0631\u0627\u06cc\u0637 \u062a\u0648\u0627\u0641\u0642 \u0634\u062f\u0647 \u062f\u0631 \u0637\u0648\u0644 \u0639\u0645\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u062a\u0639\u0647\u062f \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0627\u0632 \u0633\u0648\u06cc \u062f\u06cc\u06af\u0631 \u0645\u062d\u0635\u0648\u0644\u0627\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062e\u062a\u06cc\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> (\u0645\u0627\u0646\u0646\u062f <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d9%85%d8%b4%d8%aa%d9%82%d8%a7%d8%aa-%d9%85%d8%a7%d9%84%db%8c-%d8%a7%d8%ae%d8%aa%db%8c%d8%a7%d8%b1%d8%a7%d8%aa\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/a><\/span><b style=\"font-style: inherit;text-align: var(--text-align)\"> \u0633\u0647\u0627\u0645<\/b><span style=\"text-align: var(--text-align)\">) \u0627\u06cc\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062d\u0642<\/b><span style=\"text-align: var(--text-align)\"> \u0648 \u0646\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062c\u0628\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0628\u0647 \u062f\u0627\u0631\u0646\u062f\u0647 \u0645\u06cc\u200c\u062f\u0647\u062f \u06a9\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a\u06cc \u062e\u0627\u0635 \u062f\u0631 \u062a\u0627\u0631\u06cc\u062e \u0627\u0646\u0642\u0636\u0627\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u06cc\u0627 \u0642\u0628\u0644 \u0627\u0632 \u0622\u0646 \u0628\u062e\u0631\u062f \u06cc\u0627 \u0628\u0641\u0631\u0648\u0634\u062f. \u0631\u0627\u06cc\u062c\u200c\u062a\u0631\u06cc\u0646 \u0627\u0646\u0648\u0627\u0639 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0639\u0628\u0627\u0631\u062a\u0646\u062f \u0627\u0632: <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\">\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0633\u0644\u0641\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\">\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/b><span style=\"text-align: var(--text-align)\">.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/education\/financial-mba-guide\/\" target=\"_blank\" rel=\"noopener\">\u062f\u0648\u0631\u0647 MBA \u0645\u0627\u0644\u06cc<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0622\u062a\u06cc\u200c\u0647\u0627<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc<\/b>\u060c \u06cc\u0627 <b>\u0622\u062a\u06cc\u200c\u0647\u0627<\/b>\u060c \u062a\u0648\u0627\u0641\u0642\u06cc \u0628\u06cc\u0646 \u062f\u0648 \u0637\u0631\u0641 \u0628\u0631\u0627\u06cc <b>\u062e\u0631\u06cc\u062f<\/b> \u0648 <b>\u062a\u062d\u0648\u06cc\u0644<\/b> \u06cc\u06a9 \u062f\u0627\u0631\u0627\u06cc\u06cc \u0628\u0647 \u0642\u06cc\u0645\u062a <b>\u062a\u0648\u0627\u0641\u0642\u200c\u0634\u062f\u0647<\/b> \u0628\u0631\u0627\u06cc \u062a\u0627\u0631\u06cc\u062e\u06cc \u062f\u0631 <b>\u0622\u06cc\u0646\u062f\u0647<\/b> \u0627\u0633\u062a. \u0622\u062a\u06cc\u200c\u0647\u0627\u060c \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u0633\u062a\u0627\u0646\u062f\u0627\u0631\u062f \u0634\u062f\u0647\u200c\u0627\u06cc \u0647\u0633\u062a\u0646\u062f \u06a9\u0647 \u062f\u0631 <b>\u0628\u0648\u0631\u0633<\/b> \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f. \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u0627\u0632 \u06cc\u06a9 <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc<\/a><\/span> \u0628\u0631\u0627\u06cc \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u062e\u0648\u062f \u06cc\u0627 \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc \u062f\u0631 \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f. \u0637\u0631\u0641\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u0648\u0638\u0641 \u0628\u0647 \u0627\u0646\u062c\u0627\u0645 <b>\u062a\u0639\u0647\u062f \u062e\u0631\u06cc\u062f<\/b> \u06cc\u0627 <b>\u0641\u0631\u0648\u0634 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b> \u0647\u0633\u062a\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0628\u0647\u200c\u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u060c \u062f\u0631 6 \u0646\u0648\u0627\u0645\u0628\u0631 2021\u060c \u0634\u0631\u06a9\u062a A <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0646\u0641\u062a<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn16\" name=\"_ftnref16\"><sup>[16]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">62.22 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0631 \u0647\u0631 \u0628\u0634\u06a9\u0647 \u0628\u0627 \u0627\u0646\u0642\u0636\u0627\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">19 \u062f\u0633\u0627\u0645\u0628\u0631 2021<\/b><span style=\"text-align: var(--text-align)\"> \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0627\u06cc\u0646 \u0634\u0631\u06a9\u062a \u0628\u0647 \u0627\u06cc\u0646 \u062f\u0644\u06cc\u0644 \u06a9\u0647 \u062f\u0631 \u062f\u0633\u0627\u0645\u0628\u0631 \u0628\u0647 \u0646\u0641\u062a \u0646\u06cc\u0627\u0632 \u062f\u0627\u0631\u062f \u0648 \u0646\u06af\u0631\u0627\u0646 \u0627\u0633\u062a \u06a9\u0647 \u0642\u06cc\u0645\u062a \u0642\u0628\u0644 \u0627\u0632 \u0646\u06cc\u0627\u0632 \u0634\u0631\u06a9\u062a \u0628\u0647 \u062e\u0631\u06cc\u062f \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u062f\u060c \u0627\u06cc\u0646 \u06a9\u0627\u0631 \u0631\u0627 \u0645\u06cc\u200c\u06a9\u0646\u062f. \u062e\u0631\u06cc\u062f \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0646\u0641\u062a \u0631\u06cc\u0633\u06a9 \u0634\u0631\u06a9\u062a \u0631\u0627 \u067e\u0648\u0634\u0634 \u0645\u06cc\u200c\u062f\u0647\u062f\u060c \u0632\u06cc\u0631\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0641\u0631\u0648\u0634\u0646\u062f\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u0648\u0638\u0641 \u0627\u0633\u062a \u062f\u0631\u0633\u062a \u062f\u0631 \u0632\u0645\u0627\u0646 \u0627\u0646\u0642\u0636\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u060c \u0646\u0641\u062a \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a 62.22 \u062f\u0644\u0627\u0631 \u062f\u0631 \u0647\u0631 \u0628\u0634\u06a9\u0647 \u0628\u0647 \u0634\u0631\u06a9\u062a A \u062a\u062d\u0648\u06cc\u0644 \u062f\u0647\u062f. \u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0642\u06cc\u0645\u062a \u0646\u0641\u062a \u062a\u0627 19 \u062f\u0633\u0627\u0645\u0628\u0631 2021 \u0628\u0647 80 \u062f\u0644\u0627\u0631 \u062f\u0631 \u0647\u0631 \u0628\u0634\u06a9\u0647 \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u062f. \u0634\u0631\u06a9\u062a A \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u062a\u062d\u0648\u06cc\u0644 \u0646\u0641\u062a \u0631\u0627 \u0627\u0632 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0628\u067e\u0630\u06cc\u0631\u062f\u060c \u0627\u0645\u0627 \u0627\u06af\u0631 \u062f\u06cc\u06af\u0631 \u0628\u0647 \u0646\u0641\u062a \u0646\u06cc\u0627\u0632 \u0646\u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0631\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u0628\u0644 \u0627\u0632 \u0627\u0646\u0642\u0636\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u0646\u06cc\u0632 \u0628\u0641\u0631\u0648\u0634\u062f \u0648 \u0633\u0648\u062f \u0622\u0646 \u0631\u0627 \u0646\u06af\u0647 \u062f\u0627\u0631\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u062f\u0631 \u0645\u062b\u0627\u0644 \u0628\u0627\u0644\u0627\u060c \u0647\u0645 \u062e\u0631\u06cc\u062f\u0627\u0631 \u0648 \u0647\u0645 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0631\u06cc\u0633\u06a9 \u062e\u0648\u062f \u0631\u0627 \u067e\u0648\u0634\u0634 \u0645\u06cc\u200c\u062f\u0647\u0646\u062f. \u0634\u0631\u06a9\u062a A \u062f\u0631 \u0622\u06cc\u0646\u062f\u0647 \u0628\u0647 \u0646\u0641\u062a \u0646\u06cc\u0627\u0632 \u062f\u0627\u0634\u062a \u0648 \u0645\u06cc\u200c\u062e\u0648\u0627\u0633\u062a \u062e\u0637\u0631 \u0627\u0641\u0632\u0627\u06cc\u0634 \u0642\u06cc\u0645\u062a \u062f\u0631 \u062f\u0633\u0627\u0645\u0628\u0631 \u0631\u0627 \u0628\u0627 \u06cc\u06a9 \u0645\u0639\u0627\u0645\u0644\u0647 \u062e\u0631\u06cc\u062f \u062f\u0631 \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0646\u0641\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062e\u0646\u062b\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u06a9\u0646\u062f. \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0633\u062a \u06cc\u06a9 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0634\u0631\u06a9\u062a \u0646\u0641\u062a\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0627\u0634\u062f \u06a9\u0647 \u0646\u06af\u0631\u0627\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u06a9\u0627\u0647\u0634 \u0642\u06cc\u0645\u062a<\/b><span style=\"text-align: var(--text-align)\"> \u0646\u0641\u062a \u0628\u0648\u062f \u0648 \u0645\u06cc\u200c\u062e\u0648\u0627\u0633\u062a \u0627\u06cc\u0646 \u0631\u06cc\u0633\u06a9 \u0631\u0627 \u0628\u0627 \u0641\u0631\u0648\u0634 \u06cc\u0627 \u0645\u0639\u0627\u0645\u0644\u0647 \u062f\u0631 \u062c\u0647\u062a \u06a9\u0627\u0647\u0634 \u0642\u06cc\u0645\u062a (SHORT) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn17\" name=\"_ftnref17\"><sup>[17]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0628\u0627 \u0642\u06cc\u0645\u062a\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062b\u0627\u0628\u062a \u0634\u062f\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u06a9\u0647 \u062f\u0631 \u062f\u0633\u0627\u0645\u0628\u0631 \u0628\u0647 \u062f\u0631\u06cc\u0627\u0641\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f \u0627\u0632 \u0628\u06cc\u0646 \u0628\u0628\u0631\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0647\u0645\u0686\u0646\u06cc\u0646 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u06cc\u06a9\u06cc \u0627\u0632 \u0637\u0631\u0641\u06cc\u0646 \u06cc\u0627 \u0647\u0631 \u062f\u0648\u06cc \u0622\u0646\u200c\u0647\u0627 \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u0627\u0646\u06cc \u0628\u0627 \u0646\u0638\u0631 \u0645\u062e\u0627\u0644\u0641 \u062f\u0631\u0628\u0627\u0631\u0647 \u0645\u0633\u06cc\u0631 \u0642\u06cc\u0645\u062a \u0646\u0641\u062a \u062f\u0633\u0627\u0645\u0628\u0631 \u0628\u0627\u0634\u0646\u062f. \u062f\u0631 \u0622\u0646 \u0635\u0648\u0631\u062a\u060c \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u06cc\u06a9\u06cc \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u0646\u062a\u0641\u0639 \u0634\u0648\u062f \u0648 \u062f\u06cc\u06af\u0631\u06cc \u062e\u06cc\u0631. \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u060c \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0646\u0641\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0648\u0633\u062a \u062a\u06af\u0632\u0627\u0633 \u0627\u06cc\u0646\u062a\u0631\u0645\u06cc\u062f\u06cc\u062a<\/b><span style=\"text-align: var(--text-align)\"> (WTI) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn18\" name=\"_ftnref18\"><sup>[18]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u062f\u0631 \u0646\u0638\u0631 \u0628\u06af\u06cc\u0631\u06cc\u062f \u06a9\u0647 \u062f\u0631 CME \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f \u0648 \u0646\u0634\u0627\u0646 \u062f\u0647\u0646\u062f\u0647 1000 \u0628\u0634\u06a9\u0647 \u0646\u0641\u062a \u0627\u0633\u062a. \u0627\u06af\u0631 \u0642\u06cc\u0645\u062a \u0646\u0641\u062a \u0627\u0632 62.22 \u062f\u0644\u0627\u0631 \u0628\u0647 80 \u062f\u0644\u0627\u0631 \u062f\u0631 \u0647\u0631 \u0628\u0634\u06a9\u0647 \u0627\u0641\u0632\u0627\u06cc\u0634 \u0645\u06cc\u200c\u06cc\u0627\u0641\u062a \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631 \u0628\u0627 \u0645\u0648\u0642\u0639\u06cc\u062a \u062e\u0631\u06cc\u062f\u060c \u062e\u0631\u06cc\u062f\u0627\u0631\u060c \u062f\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">17,780 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> (80-62.22 USD*1000) <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0633\u0648\u062f<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u06cc\u200c\u0628\u0631\u062f \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u062f\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f 17,780 \u062f\u0644\u0627\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0636\u0631\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u06cc\u200c\u06a9\u0631\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/credit-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0627\u0639\u062a\u0628\u0627\u0631\u06cc \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u062a\u0633\u0648\u06cc\u0647 \u0646\u0642\u062f\u06cc \u0622\u062a\u06cc\u200c\u0647\u0627<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">\u0647\u0645\u0647 \u0622\u062a\u06cc\u200c\u0647\u0627 \u062f\u0631 \u0632\u0645\u0627\u0646 <b>\u0627\u0646\u0642\u0636\u0627<\/b> \u0628\u0627 <b>\u062a\u062d\u0648\u06cc\u0644 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b> \u062a\u0633\u0648\u06cc\u0647 \u0646\u0645\u06cc\u200c\u0634\u0648\u0646\u062f. \u0627\u06af\u0631 \u0647\u0631 \u062f\u0648 \u0637\u0631\u0641 \u062f\u0631 \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0622\u062a\u06cc<\/a><\/span> \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 <b>\u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632<\/b> \u06cc\u0627 <b>\u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631<\/b> \u0628\u0627\u0634\u0646\u062f \u0628\u0639\u06cc\u062f \u0627\u0633\u062a \u06a9\u0647 \u0647\u0631 \u06cc\u06a9 \u0627\u0632 \u0622\u0646\u200c\u0647\u0627 \u0628\u062e\u0648\u0627\u0647\u0646\u062f \u062a\u062d\u0648\u06cc\u0644 \u062a\u0639\u062f\u0627\u062f \u0632\u06cc\u0627\u062f\u06cc \u0628\u0634\u06a9\u0647 \u0646\u0641\u062a \u062e\u0627\u0645 \u0631\u0627 \u062a\u0631\u062a\u06cc\u0628 \u062f\u0647\u0646\u062f. \u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u0627\u0646 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0627 \u067e\u0627\u06cc\u0627\u0646 \u062f\u0627\u062f\u0646 \u0628\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u062e\u0648\u062f \u0642\u0628\u0644 \u0627\u0632 \u0627\u0646\u0642\u0636\u0627 \u0628\u0627 \u06cc\u06a9 <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u062c\u0628\u0631\u0627\u0646\u06cc<\/b> \u0628\u0647 \u062a\u0639\u0647\u062f \u062e\u0648\u062f \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u06cc\u0627 \u062a\u062d\u0648\u06cc\u0644 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u067e\u0627\u06cc\u0627\u0646 \u062f\u0647\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u062f\u0631 \u062d\u0642\u06cc\u0642\u062a \u0628\u0647 \u0635\u0648\u0631\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0642\u062f\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u062a\u0633\u0648\u06cc\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f\u060c \u0628\u0647 \u0627\u06cc\u0646 \u0645\u0639\u0646\u06cc \u06a9\u0647 \u0633\u0648\u062f \u06cc\u0627 \u0632\u06cc\u0627\u0646 \u062d\u0627\u0635\u0644 \u0627\u0632 \u0645\u0639\u0627\u0645\u0644\u0647 \u0635\u0631\u0641\u0627\u064b \u06cc\u06a9 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062c\u0631\u06cc\u0627\u0646 \u0646\u0642\u062f\u06cc \u062d\u0633\u0627\u0628\u062f\u0627\u0631\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0647 \u062d\u0633\u0627\u0628 \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u06cc \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631 \u0627\u0633\u062a. \u0622\u062a\u06cc\u200c\u0647\u0627\u06cc\u06cc \u06a9\u0647 \u0628\u0647 \u0635\u0648\u0631\u062a \u0646\u0642\u062f\u06cc \u062a\u0633\u0648\u06cc\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f \u0634\u0627\u0645\u0644 \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0646\u0631\u062e \u0628\u0647\u0631\u0647<\/b><span style=\"text-align: var(--text-align)\">\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0634\u0627\u062e\u0635 \u0633\u0647\u0627\u0645<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn19\" name=\"_ftnref19\"><sup>[19]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0648 \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u063a\u06cc\u0631\u0645\u0639\u0645\u0648\u0644\u200c\u062a\u0631\u06cc \u0645\u0627\u0646\u0646\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0646\u0648\u0633\u0627\u0646\u0627\u062a<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn20\" name=\"_ftnref20\"><sup>[20]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0622\u0628 \u0648 \u0647\u0648\u0627<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn21\" name=\"_ftnref21\"><sup>[21]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0647\u0633\u062a\u0646\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/exchange-rate-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u0627\u0631\u0632 \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0633\u0644\u0641\u200c\u0647\u0627<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0633\u0644\u0641<\/a><\/span> \u06cc\u0627 \u0633\u0644\u0641\u200c\u0647\u0627 \u0645\u0634\u0627\u0628\u0647 \u0622\u062a\u06cc\u200c\u0647\u0627 \u0647\u0633\u062a\u0646\u062f \u0628\u0627 \u0627\u06cc\u0646 \u062a\u0641\u0627\u0648\u062a \u06a9\u0647 \u062f\u0631 \u0628\u0648\u0631\u0633 \u0645\u0639\u0627\u0645\u0644\u0647 \u0646\u0645\u06cc\u200c\u0634\u0648\u0646\u062f. \u0627\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627 \u0641\u0642\u0637 \u062f\u0631 <b>\u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633<\/b> \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f. \u0647\u0646\u06af\u0627\u0645\u06cc \u06a9\u0647 \u06cc\u06a9 <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d9%85%d8%b9%d8%a7%d9%85%d9%84%d8%a7%d8%aa-%d8%a2%d8%aa%db%8c-%d9%81%db%8c%d9%88%da%86%d8%b1%d8%b2\/\" target=\"_blank\" rel=\"noopener\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0633\u0644\u0641<\/a><\/span> \u0634\u06a9\u0644 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f \u062e\u0631\u06cc\u062f\u0627\u0631 \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a <b>\u0634\u0631\u0627\u06cc\u0637<\/b>\u060c <b>\u062d\u062c\u0645<\/b> \u0648 <b>\u0641\u0631\u0627\u06cc\u0646\u062f \u062a\u0633\u0648\u06cc\u0647<\/b> \u0631\u0627 \u0633\u0641\u0627\u0631\u0634\u06cc \u06a9\u0646\u0646\u062f. \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062d\u0635\u0648\u0644\u0627\u062a \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633\u060c \u0633\u0644\u0641\u200c\u0647\u0627 \u062f\u0631\u062c\u0647 \u0628\u06cc\u0634\u062a\u0631\u06cc \u0627\u0632 <b>\u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644<\/b> \u0631\u0627 \u0628\u0631\u0627\u06cc \u0647\u0631 \u062f\u0648 \u0637\u0631\u0641 \u0645\u0639\u0627\u0645\u0644\u0647 \u0628\u0647 \u0647\u0645\u0631\u0627\u0647 \u062f\u0627\u0631\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644 \u0646\u0648\u0639\u06cc <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/credit-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0627\u0639\u062a\u0628\u0627\u0631\u06cc<\/a><\/span><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn22\" name=\"_ftnref22\"><sup>[22]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0627\u0633\u062a \u06a9\u0647 \u062f\u0631 \u0622\u0646 \u0637\u0631\u0641\u06cc\u0646 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0646\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0647 \u062a\u0639\u0647\u062f\u0627\u062a \u0645\u0646\u062f\u0631\u062c \u062f\u0631 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0639\u0645\u0644 \u06a9\u0646\u0646\u062f. \u0627\u06af\u0631 \u06cc\u06a9\u06cc \u0627\u0632 \u0637\u0631\u0641\u06cc\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0648\u0631\u0634\u06a9\u0633\u062a\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u0634\u0648\u062f \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0637\u0631\u0641 \u062f\u06cc\u06af\u0631 \u0647\u06cc\u0686 \u0631\u0627\u0647\u200c\u062d\u0644\u06cc \u0646\u062f\u0627\u0634\u062a\u0647 \u0628\u0627\u0634\u062f \u0648 \u0627\u0631\u0632\u0634 \u0645\u0648\u0642\u0639\u06cc\u062a \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u062e\u0648\u062f \u0631\u0627 \u0627\u0632 \u062f\u0633\u062a \u0628\u062f\u0647\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u067e\u0633 \u0627\u0632 \u0627\u06cc\u062c\u0627\u062f \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0633\u0644\u0641\u060c \u0637\u0631\u0641\u06cc\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0645\u0648\u0642\u0639\u06cc\u062a \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u062e\u0648\u062f \u0631\u0627 \u0628\u0627 \u0637\u0631\u0641\u200c\u0647\u0627\u06cc \u062f\u06cc\u06af\u0631 \u062c\u0628\u0631\u0627\u0646 \u06a9\u0646\u0646\u062f. \u0627\u06cc\u0646 \u06a9\u0627\u0631 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0627\u062d\u062a\u0645\u0627\u0644 \u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644 \u0631\u0627 \u0627\u0641\u0632\u0627\u06cc\u0634 \u062f\u0647\u062f \u0632\u06cc\u0631\u0627 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u0628\u06cc\u0634\u062a\u0631\u06cc \u062f\u0631 \u0647\u0645\u0627\u0646 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u062f\u0631\u06af\u06cc\u0631 \u0634\u062f\u0647\u200c\u0627\u0646\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/liquidity-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0646\u0642\u062f\u06cc\u0646\u06af\u06cc \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627 \u06cc\u06a9\u06cc \u062f\u06cc\u06af\u0631 \u0627\u0632 \u0627\u0646\u0648\u0627\u0639 \u0645\u062a\u062f\u0627\u0648\u0644 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0647\u0633\u062a\u0646\u062f \u06a9\u0647 \u0627\u063a\u0644\u0628 \u0628\u0631\u0627\u06cc \u0645\u0628\u0627\u062f\u0644\u0647 \u06cc\u06a9 \u0646\u0648\u0639 \u0627\u0632 <b>\u062c\u0631\u06cc\u0627\u0646 \u0646\u0642\u062f<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn23\" name=\"_ftnref23\"><sup>[23]<\/sup><\/a><\/span> \u0628\u0627 \u0646\u0648\u0639 \u062f\u06cc\u06af\u0631\u06cc \u0627\u0632 \u0622\u0646 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f. \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u060c \u06cc\u06a9 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631 \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0627\u0632 <b>\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0646\u0631\u062e \u0628\u0647\u0631\u0647<\/b> \u0628\u0631\u0627\u06cc \u062c\u0627\u0628\u062c\u0627\u06cc\u06cc \u0627\u0632 \u0648\u0627\u0645 \u0628\u0627 <b>\u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u0645\u062a\u063a\u06cc\u0631<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn24\" name=\"_ftnref24\"><sup>[24]<\/sup><\/a><\/span> \u0628\u0647 \u0648\u0627\u0645 \u0628\u0627 <b>\u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u062b\u0627\u0628\u062a<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn25\" name=\"_ftnref25\"><sup>[25]<\/sup><\/a><\/span> \u06cc\u0627 \u0628\u0631\u0639\u06a9\u0633 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0646\u062f.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u0645\u062b\u0627\u0644 \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">\u062a\u0635\u0648\u0631 \u06a9\u0646\u06cc\u062f \u06a9\u0647 \u0634\u0631\u06a9\u062a XYZ \u0645\u0628\u0644\u063a 1,000,000 \u062f\u0644\u0627\u0631 \u0648\u0627\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f \u0648 \u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u0645\u062a\u063a\u06cc\u0631\u06cc \u0631\u0627 \u06a9\u0647 \u062f\u0631 \u062d\u0627\u0644 \u062d\u0627\u0636\u0631 6% \u0627\u0633\u062a \u0631\u0648\u06cc \u0648\u0627\u0645 \u067e\u0631\u062f\u0627\u062e\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f. \u0634\u0631\u06a9\u062a XYZ \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0646\u06af\u0631\u0627\u0646 <b>\u0627\u0641\u0632\u0627\u06cc\u0634 \u0646\u0631\u062e\u200c\u0647\u0627\u06cc \u0628\u0647\u0631\u0647<\/b> \u0628\u0627\u0634\u062f \u06a9\u0647 \u0647\u0632\u06cc\u0646\u0647\u200c\u0647\u0627\u06cc \u0627\u06cc\u0646 \u0648\u0627\u0645 \u0631\u0627 \u0627\u0641\u0632\u0627\u06cc\u0634 \u0645\u06cc\u200c\u062f\u0647\u062f \u06cc\u0627 \u0628\u0627 \u0648\u0627\u0645\u200c\u062f\u0647\u0646\u062f\u0647\u200c\u0627\u06cc \u0645\u0648\u0627\u062c\u0647 \u0634\u0648\u062f \u06a9\u0647 \u062a\u0645\u0627\u06cc\u0644\u06cc \u0628\u0647 <b>\u0627\u0639\u0637\u0627\u06cc \u0627\u0639\u062a\u0628\u0627\u0631<\/b> \u0628\u06cc\u0634\u062a\u0631 \u062f\u0631 \u062d\u0627\u0644\u06cc \u06a9\u0647 \u0634\u0631\u06a9\u062a \u062f\u0627\u0631\u0627\u06cc \u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u0645\u062a\u063a\u06cc\u0631 \u0627\u0633\u062a \u0646\u062f\u0627\u0631\u062f.<br><span style=\"text-align: var(--text-align)\">\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f XYZ \u06cc\u06a9 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0628\u0627 \u0634\u0631\u06a9\u062a QRS \u0645\u06cc\u200c\u0628\u0646\u062f\u062f\u060c \u06a9\u0647 \u062a\u0645\u0627\u06cc\u0644 \u062f\u0627\u0631\u062f \u067e\u0631\u062f\u0627\u062e\u062a \u0628\u062f\u0647\u06cc\u200c\u0647\u0627\u06cc \u0648\u0627\u0645 \u0628\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0631\u062e \u0645\u062a\u063a\u06cc\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0628\u0627 \u067e\u0631\u062f\u0627\u062e\u062a \u0628\u062f\u0647\u06cc\u200c\u0647\u0627\u06cc \u0648\u0627\u0645 \u0628\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0631\u062e \u062b\u0627\u0628\u062a<\/b><span style=\"text-align: var(--text-align)\"> 7 \u062f\u0631\u0635\u062f \u062a\u0628\u0627\u062f\u0644 \u06a9\u0646\u062f. \u0627\u06cc\u0646 \u0628\u062f\u0627\u0646 \u0645\u0639\u0646\u0627\u0633\u062a \u06a9\u0647 \u0634\u0631\u06a9\u062a XYZ \u0628\u0627 \u0646\u0631\u062e 7 \u062f\u0631\u0635\u062f \u0628\u0647 \u0634\u0631\u06a9\u062a QRS \u0627\u0632 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0635\u0644 1,000,000<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0644\u0627\u0631 \u062e\u0648\u062f \u067e\u0631\u062f\u0627\u062e\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f \u0648 QRS \u0628\u0647 XYZ \u0628\u0627 \u0628\u0647\u0631\u0647 6% \u0631\u0648\u06cc \u0647\u0645\u0627\u0646 \u0627\u0635\u0644 \u0648\u0627\u0645 \u067e\u0631\u062f\u0627\u062e\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f. \u062f\u0631 \u0627\u0628\u062a\u062f\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u060c XYZ \u0641\u0642\u0637 1 \u062f\u0631\u0635\u062f \u0627\u062e\u062a\u0644\u0627\u0641 \u0628\u06cc\u0646 \u062f\u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0631\u062e \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0628\u0647 QRS \u067e\u0631\u062f\u0627\u062e\u062a \u0645\u06cc\u200c\u06a9\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0627\u06af\u0631 \u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u06a9\u0645 \u0634\u0648\u062f \u0628\u0647 \u0637\u0648\u0631\u06cc \u06a9\u0647 \u0646\u0631\u062e \u0645\u062a\u063a\u06cc\u0631 \u0631\u0648\u06cc \u0648\u0627\u0645 \u0627\u0635\u0644\u06cc \u0627\u06a9\u0646\u0648\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">5\u066a<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0627\u0634\u062f\u060c \u0634\u0631\u06a9\u062a XYZ \u0628\u0627\u06cc\u062f \u062a\u0641\u0627\u0648\u062a <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">2 \u062f\u0631\u0635\u062f\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0648\u0627\u0645 \u0631\u0627 \u0628\u0647 \u0634\u0631\u06a9\u062a QRS \u0628\u067e\u0631\u062f\u0627\u0632\u062f. \u0627\u06af\u0631 \u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">8 \u062f\u0631\u0635\u062f<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u062f\u060c QRS \u0628\u0627\u06cc\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">1 \u062f\u0631\u0635\u062f<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u062e\u062a\u0644\u0627\u0641 \u0628\u06cc\u0646 \u062f\u0648 \u0646\u0631\u062e \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0631\u0627 \u0628\u0647 XYZ \u0628\u067e\u0631\u062f\u0627\u0632\u062f. \u0635\u0631\u0641\u200c\u0646\u0638\u0631 \u0627\u0632 \u0686\u06af\u0648\u0646\u06af\u06cc \u062a\u063a\u06cc\u06cc\u0631 \u0646\u0631\u062e\u200c\u0647\u0627\u06cc \u0628\u0647\u0631\u0647\u060c \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627 \u0628\u0647 \u0647\u062f\u0641 \u0627\u0648\u0644\u06cc\u0647 XYZ \u0645\u0628\u0646\u06cc \u0628\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062a\u0628\u062f\u06cc\u0644 \u0648\u0627\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0632 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u0645\u062a\u063a\u06cc\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u0631\u062e \u0628\u0647\u0631\u0647 \u062b\u0627\u0628\u062a<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0633\u062a \u06cc\u0627\u0641\u062a\u0647 \u0627\u0633\u062a.<br><\/span><span style=\"text-align: var(--text-align)\">\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627 \u0647\u0645\u0686\u0646\u06cc\u0646 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0631\u0627\u06cc \u0645\u0628\u0627\u062f\u0644\u0647 <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/exchange-rate-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u062a\u0628\u0627\u062f\u0644 \u0627\u0631\u0632<\/a><\/span><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 \u062e\u0637\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u06a9\u0648\u0644 \u0648\u0627\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062c\u0631\u06cc\u0627\u0646\u200c\u0647\u0627\u06cc \u0646\u0642\u062f<\/b><span style=\"text-align: var(--text-align)\"> \u0646\u0627\u0634\u06cc \u0627\u0632 \u0633\u0627\u06cc\u0631 \u0641\u0639\u0627\u0644\u06cc\u062a\u200c\u0647\u0627\u06cc \u062a\u062c\u0627\u0631\u06cc \u0627\u06cc\u062c\u0627\u062f \u0634\u0648\u0646\u062f. \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627\u06cc \u0645\u0631\u0628\u0648\u0637 \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062c\u0631\u06cc\u0627\u0646\u200c\u0647\u0627\u06cc \u0646\u0642\u062f\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0646\u06a9\u0648\u0644<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u062d\u062a\u0645\u0627\u0644\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0648\u0631\u0627\u0642 \u0631\u0647\u0646\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0632 \u0627\u0646\u0648\u0627\u0639 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u0633\u06cc\u0627\u0631 \u0645\u062d\u0628\u0648\u0628 \u0647\u0633\u062a\u0646\u062f. \u0627\u06cc\u0646 \u0646\u0648\u0639 \u0627\u0632 \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627 \u062f\u0631 \u06af\u0630\u0634\u062a\u0647 \u06a9\u0645\u06cc \u0628\u06cc\u0634 \u0627\u0632 \u062d\u062f \u0645\u062d\u0628\u0648\u0628 \u0628\u0648\u062f\u0647\u200c\u0627\u0646\u062f. \u0627\u06cc\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u067e\u0627\u06cc\u0627\u067e\u0627\u06cc\u200c\u0647\u0627 \u0628\u0648\u062f \u06a9\u0647 \u062f\u0631 \u0646\u0647\u0627\u06cc\u062a \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0628\u062d\u0631\u0627\u0646 \u0627\u0639\u062a\u0628\u0627\u0631\u06cc<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn26\" name=\"_ftnref26\"><sup>[26]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0633\u0627\u0644 2008 \u0645\u0646\u062a\u0647\u06cc \u0634\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/free-cash-flow\/\" target=\"_blank\" rel=\"noopener\">\u062c\u0631\u06cc\u0627\u0646 \u0646\u0642\u062f \u0622\u0632\u0627\u062f \u0686\u06cc\u0633\u062a\u061f<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u00a0<strong>\u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d9%85%d8%b4%d8%aa%d9%82%d8%a7%d8%aa-%d9%85%d8%a7%d9%84%db%8c-%d8%a7%d8%ae%d8%aa%db%8c%d8%a7%d8%b1%d8%a7%d8%aa\/\" target=\"_blank\" rel=\"noopener\">\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631<\/a><\/span> \u0645\u0634\u0627\u0628\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0627\u0633\u062a\u060c \u06a9\u0647 \u062f\u0631 \u0622\u0646 \u062a\u0648\u0627\u0641\u0642\u06cc \u0628\u06cc\u0646 \u062f\u0648 \u0637\u0631\u0641 \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u06cc\u0627 \u0641\u0631\u0648\u0634 \u06cc\u06a9 \u062f\u0627\u0631\u0627\u06cc\u06cc \u062f\u0631 \u062a\u0627\u0631\u06cc\u062e\u06cc \u0627\u0632 \u067e\u06cc\u0634 \u062a\u0639\u06cc\u06cc\u0646\u200c\u0634\u062f\u0647 \u062f\u0631 \u0622\u06cc\u0646\u062f\u0647 \u0628\u0647 \u0642\u06cc\u0645\u062a\u06cc \u0645\u0634\u062e\u0635 \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f. \u062a\u0641\u0627\u0648\u062a \u0627\u0635\u0644\u06cc \u0628\u06cc\u0646 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0648 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0622\u062a\u06cc \u062f\u0631 \u0627\u06cc\u0646 \u0627\u0633\u062a \u06a9\u0647 \u0628\u0627 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647\u060c \u062e\u0631\u06cc\u062f\u0627\u0631 \u0645\u0648\u0638\u0641 \u0628\u0647 \u0627\u062c\u0631\u0627\u06cc \u062a\u0648\u0627\u0641\u0642 \u062e\u0648\u062f \u0628\u0631\u0627\u06cc <b>\u062e\u0631\u06cc\u062f<\/b> \u06cc\u0627 <b>\u0641\u0631\u0648\u0634<\/b> \u0646\u06cc\u0633\u062a. \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0628\u0631 \u062e\u0644\u0627\u0641 \u0622\u062a\u06cc\u200c\u0647\u0627 \u06a9\u0647 \u062a\u0639\u0647\u062f \u0627\u06cc\u062c\u0627\u062f \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f \u0641\u0642\u0637 \u06cc\u06a9 <b>\u0641\u0631\u0635\u062a<\/b> \u0647\u0633\u062a\u0646\u062f. \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0627\u0632 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0647\u0645 \u0645\u0627\u0646\u0646\u062f \u0622\u062a\u06cc\u200c\u0647\u0627 \u0628\u0631\u0627\u06cc <b>\u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9<\/b> \u06cc\u0627 <b>\u0633\u0641\u062a\u0647\u200c\u0628\u0627\u0632\u06cc<\/b> \u0631\u0648\u06cc \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0634\u0648\u062f.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0646\u06a9\u062a\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u0627\u0632 \u0646\u0638\u0631 \u0632\u0645\u0627\u0646\u200c\u0628\u0646\u062f\u06cc\u060c \u062d\u0642 \u0634\u0645\u0627 \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u06cc\u0627 \u0641\u0631\u0648\u0634 \u0648\u0627\u0628\u0633\u062a\u0647 \u0628\u0647 <b>\u0646\u0648\u0639 \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/b> \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0627\u0633\u062a. \u06cc\u06a9 <b>\u0627\u062e\u062a\u06cc\u0627\u0631 \u0622\u0645\u0631\u06cc\u06a9\u0627\u06cc\u06cc<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn27\" name=\"_ftnref27\"><sup>[27]<\/sup><\/a><\/span> \u0628\u0647 \u062f\u0627\u0631\u0646\u062f\u06af\u0627\u0646 \u0627\u06cc\u0646 \u0627\u0645\u06a9\u0627\u0646 \u0631\u0627 \u0645\u06cc\u200c\u062f\u0647\u062f \u06a9\u0647 \u0627\u0632 \u062d\u0642\u0648\u0642 \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0648\u062f \u062f\u0631 \u0647\u0631 \u0632\u0645\u0627\u0646\u06cc \u0642\u0628\u0644 \u0648 \u062f\u0631 \u0631\u0648\u0632 <b>\u0627\u0646\u0642\u0636\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/b> \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0646\u0646\u062f. <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/european-option\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0631\u0648\u067e\u0627\u06cc\u06cc<\/a><\/span> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn28\" name=\"_ftnref28\"><sup>[28]<\/sup><\/a><\/span> \u0641\u0642\u0637 \u062f\u0631 <b>\u0631\u0648\u0632 \u0627\u0646\u0642\u0636\u0627<\/b> \u0642\u0627\u0628\u0644 \u0627\u062c\u0631\u0627 \u0627\u0633\u062a. \u0628\u06cc\u0634\u062a\u0631 <b>\u0633\u0647\u0627\u0645<\/b> \u0648 <b>\u0635\u0646\u062f\u0648\u0642\u200c\u0647\u0627\u06cc \u0642\u0627\u0628\u0644 \u0645\u0639\u0627\u0645\u0644\u0647<\/b> \u062f\u0631 \u0628\u0648\u0631\u0633 \u062f\u0627\u0631\u0627\u06cc <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/american-option\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0622\u0645\u0631\u06cc\u06a9\u0627\u06cc\u06cc<\/a><\/span> \u0647\u0633\u062a\u0646\u062f \u062f\u0631 \u062d\u0627\u0644\u06cc \u06a9\u0647 <b>\u0634\u0627\u062e\u0635\u200c\u0647\u0627\u06cc \u0633\u0647\u0627\u0645<\/b> \u0634\u0627\u0645\u0644 S&amp;P 500 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0627\u0631\u0648\u067e\u0627\u06cc\u06cc \u062f\u0627\u0631\u0646\u062f.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u0645\u062b\u0627\u0644 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><span>\u062a\u0635\u0648\u0631 \u06a9\u0646\u06cc\u062f \u06cc\u06a9 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u062f\u0627\u0631\u0627\u06cc \u06f1\u06f0\u06f0 \u0633\u0647\u0645 \u0627\u0632 \u06cc\u06a9 \u0633\u0647\u0627\u0645 \u0628\u0647 \u0642\u06cc\u0645\u062a \u0647\u0631 \u0633\u0647\u0645 \u06f5\u06f0 \u062f\u0644\u0627\u0631 \u0627\u0633\u062a. \u0648\u06cc \u0645\u0639\u062a\u0642\u062f \u0627\u0633\u062a \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u062f\u0631 \u0622\u06cc\u0646\u062f\u0647 \u0627\u0641\u0632\u0627\u06cc\u0634 \u062e\u0648\u0627\u0647\u062f \u06cc\u0627\u0641\u062a. \u0628\u0627 \u0627\u06cc\u0646 \u062d\u0627\u0644 \u0627\u06cc\u0646 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0646\u06af\u0631\u0627\u0646 <b>\u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0627\u062d\u062a\u0645\u0627\u0644\u06cc<\/b> \u0627\u0633\u062a \u0648 \u062a\u0635\u0645\u06cc\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f \u0631\u06cc\u0633\u06a9 \u0645\u0648\u0642\u0639\u06cc\u062a \u0645\u0639\u0627\u0645\u0644\u0627\u062a\u06cc \u062e\u0648\u062f \u0631\u0627 \u0628\u0627 \u06cc\u06a9 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u067e\u0648\u0634\u0634 \u062f\u0647\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u06cc\u06a9 <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/put-option\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634<\/a><\/span><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn29\" name=\"_ftnref29\"><sup>[29]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u062e\u0631\u062f \u06a9\u0647 \u0628\u0647 \u0648\u06cc \u0627\u06cc\u0646 \u062d\u0642 \u0631\u0627 \u0645\u06cc\u200c\u062f\u0647\u062f \u06a9\u0647 100 \u0633\u0647\u0645 \u0627\u0632 \u0633\u0647\u0627\u0645 \u067e\u0627\u06cc\u0647 \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a 50 \u062f\u0644\u0627\u0631 \u0628\u0647 \u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645\u060c <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/option-strike-price\/\" target=\"_blank\" rel=\"noopener\">\u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644<\/a><\/span><span style=\"text-align: var(--text-align)\">\u060c \u062a\u0627 \u06cc\u06a9 \u0631\u0648\u0632 \u0645\u0634\u062e\u0635 \u062f\u0631 \u0622\u06cc\u0646\u062f\u0647\u060c \u06a9\u0647 \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u062a\u0627\u0631\u06cc\u062e \u0627\u0646\u0642\u0636\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u0634\u0646\u0627\u062e\u062a\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f\u060c \u0628\u0641\u0631\u0648\u0634\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u062f\u0631 \u062a\u0627\u0631\u06cc\u062e \u0627\u0646\u0642\u0636\u0627 \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">40 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0631\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u06a9\u0627\u0647\u0634 \u06cc\u0627\u0628\u062f \u0648 \u062e\u0631\u06cc\u062f\u0627\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634 \u062a\u0635\u0645\u06cc\u0645 \u0645\u06cc\u200c\u06af\u06cc\u0631\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0648\u062f \u0631\u0627 \u0627\u0639\u0645\u0627\u0644 \u06a9\u0646\u062f \u0648 \u0633\u0647\u0627\u0645 \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0627\u0635\u0644\u06cc 50 \u062f\u0644\u0627\u0631 \u0628\u0631\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u0628\u0641\u0631\u0648\u0634\u062f. \u0627\u06af\u0631 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0631\u0627 200 \u062f\u0644\u0627\u0631 \u062e\u0631\u06cc\u062f\u0647 \u0628\u0627\u0634\u062f\u060c \u062f\u0631 \u0627\u06cc\u0646 \u0635\u0648\u0631\u062a \u0648\u06cc \u0641\u0642\u0637 \u0647\u0632\u06cc\u0646\u0647 \u0627\u06cc\u0646 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0631\u0627 \u0627\u0632 \u062f\u0633\u062a \u062f\u0627\u062f\u0647 \u0627\u0633\u062a \u0632\u06cc\u0631\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn30\" name=\"_ftnref30\"><sup>[30]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u0631\u0627\u0628\u0631 \u0628\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0631 \u0632\u0645\u0627\u0646 \u062e\u0631\u06cc\u062f \u0627\u0648\u0644\u06cc\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u0628\u0648\u062f\u0647 \u0627\u0633\u062a. \u0627\u06cc\u0646 \u0627\u0633\u062a\u0631\u0627\u062a\u0698\u06cc\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634 \u0645\u062d\u0627\u0641\u0638\u062a\u200c\u0634\u062f\u0647<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn31\" name=\"_ftnref31\"><sup>[31]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0646\u0627\u0645\u06cc\u062f\u0647 \u0645\u06cc\u200c\u0634\u0648\u062f\u060c \u0632\u06cc\u0631\u0627 \u0631\u06cc\u0633\u06a9 \u0646\u0632\u0648\u0644 \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u0631\u0627 \u067e\u0648\u0634\u0634 \u0645\u06cc\u200c\u062f\u0647\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u06cc \u062f\u06cc\u06af\u0631\u060c \u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u06cc\u06a9 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0645\u0627\u0644\u06a9 \u0633\u0647\u0627\u0645\u06cc \u06a9\u0647 \u0642\u06cc\u0645\u062a \u0622\u0646 50 \u062f\u0644\u0627\u0631 \u0628\u0647 \u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u0627\u0633\u062a \u0646\u0628\u0627\u0634\u062f \u0648 \u0645\u0639\u062a\u0642\u062f \u0628\u0627\u0634\u062f \u0642\u06cc\u0645\u062a \u0622\u0646 \u0637\u06cc \u0645\u0627\u0647 \u0622\u06cc\u0646\u062f\u0647 \u0627\u0641\u0632\u0627\u06cc\u0634 \u062e\u0648\u0627\u0647\u062f \u06cc\u0627\u0641\u062a. \u0627\u06cc\u0646 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u06cc\u06a9 <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/call-option\/\" target=\"_blank\" rel=\"noopener\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f<\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u062e\u0631\u062f \u06a9\u0647 \u0628\u0647 \u0627\u0648 \u0627\u06cc\u0646 \u062d\u0642 \u0631\u0627 \u0645\u06cc\u200c\u062f\u0647\u062f \u06a9\u0647 \u062f\u0631 \u0632\u0645\u0627\u0646 \u0642\u0628\u0644 \u0627\u0632 \u06cc\u0627 \u0627\u0646\u0642\u0636\u0627\u060c \u0633\u0647\u0627\u0645 \u0631\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a 50 \u062f\u0644\u0627\u0631 \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u06a9\u0646\u062f. \u0641\u0631\u0636 \u06a9\u0646\u06cc\u062f \u0627\u06cc\u0646 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">200 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u062f \u0648 \u0633\u0647\u0627\u0645 \u0642\u0628\u0644 \u0627\u0632 \u0627\u0646\u0642\u0636\u0627 \u0628\u0647 \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u0628\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">60 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0641\u062a\u0647 \u0627\u0633\u062a. \u062e\u0631\u06cc\u062f\u0627\u0631 \u0627\u06a9\u0646\u0648\u0646 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0627\u0632 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647 \u062e\u0648\u062f \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u06a9\u0646\u062f \u0648 \u0633\u0647\u0627\u0645\u06cc \u0628\u0647 \u0642\u06cc\u0645\u062a 60 \u062f\u0644\u0627\u0631 \u0628\u0647 \u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u0631\u0627 \u0628\u0627 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 50 \u062f\u0644\u0627\u0631 \u0628\u0631\u0627\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0633\u0648\u062f \u0627\u0648\u0644\u06cc\u0647 10 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0647 \u0627\u0632\u0627\u06cc \u0647\u0631 \u0633\u0647\u0645 \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u06a9\u0646\u062f. \u06cc\u06a9 \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f \u0646\u0634\u0627\u0646\u200c\u062f\u0647\u0646\u062f\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">100 \u0633\u0647\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0633\u062a \u0628\u0646\u0627\u0628\u0631\u0627\u06cc\u0646 \u0633\u0648\u062f \u0648\u0627\u0642\u0639\u06cc <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">1000 \u062f\u0644\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> \u0645\u06cc\u200c\u0634\u0648\u062f \u06a9\u0647 \u06a9\u0645\u062a\u0631 \u0627\u0632 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0647\u0632\u06cc\u0646\u0647 \u062e\u0631\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/b><span style=\"text-align: var(--text-align)\">\u060c \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0631\u06cc\u0645\u06cc\u0648\u0645<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn32\" name=\"_ftnref32\"><sup>[32]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0648 \u0647\u0631\u06af\u0648\u0646\u0647 \u0647\u0632\u06cc\u0646\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u06a9\u0627\u0631\u0645\u0632\u062f \u06a9\u0627\u0631\u06af\u0632\u0627\u0631\u06cc<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0633\u062a.<br><\/span><span style=\"text-align: var(--text-align)\">\u062f\u0631 \u0647\u0631 \u062f\u0648 \u0645\u062b\u0627\u0644\u060c \u062f\u0631 \u0635\u0648\u0631\u062a \u062f\u0631\u062e\u0648\u0627\u0633\u062a \u062e\u0631\u06cc\u062f\u0627\u0631\u0627\u0646 \u0628\u0631\u0627\u06cc \u0627\u062c\u0631\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0641\u0631\u0648\u0634\u0646\u062f\u06af\u0627\u0646 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0645\u0648\u0638\u0641<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u0647 \u0627\u062c\u0631\u0627\u06cc \u062a\u0639\u0647\u062f\u0627\u062a \u0637\u0631\u0641 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u062e\u0648\u062f \u0647\u0633\u062a\u0646\u062f. \u0628\u0627 \u0627\u06cc\u0646 \u062d\u0627\u0644 \u0627\u06af\u0631 \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u062f\u0631 \u0632\u0645\u0627\u0646 \u0627\u0646\u0642\u0636\u0627 \u0628\u0627\u0644\u0627\u062a\u0631 \u0627\u0632 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0628\u0627\u0634\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u0641\u0631\u0648\u0634 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0628\u06cc\u200c\u0627\u0631\u0632\u0634<\/b><span style=\"text-align: var(--text-align)\"> \u062e\u0648\u0627\u0647\u062f \u0628\u0648\u062f \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 (\u0635\u0627\u062f\u0631\u06a9\u0646\u0646\u062f\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647) \u0647\u0632\u06cc\u0646\u0647 \u062e\u0631\u06cc\u062f \u0627\u062e\u062a\u06cc\u0627\u0631 \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0631\u06cc\u0645\u06cc\u0648\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u0622\u0646 \u0631\u0627 \u0647\u0645\u0632\u0645\u0627\u0646 \u0628\u0627 \u0627\u0646\u0642\u0636\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0646\u06af\u0647 \u0645\u06cc\u200c\u062f\u0627\u0631\u062f. \u0627\u06af\u0631 \u0642\u06cc\u0645\u062a \u0633\u0647\u0627\u0645 \u062f\u0631 \u0627\u0646\u0642\u0636\u0627 \u06a9\u0645\u062a\u0631 \u0627\u0632 \u0642\u06cc\u0645\u062a \u0627\u0639\u0645\u0627\u0644 \u0628\u0627\u0634\u062f\u060c <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn33\" name=\"_ftnref33\"><sup>[33]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0628\u06cc\u200c\u0627\u0631\u0632\u0634 \u062e\u0648\u0627\u0647\u062f \u0628\u0648\u062f \u0648 \u0641\u0631\u0648\u0634\u0646\u062f\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f \u0647\u0632\u06cc\u0646\u0647 \u0627\u062e\u062a\u06cc\u0627\u0631 \u06cc\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0631\u06cc\u0645\u06cc\u0648\u0645<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u062d\u0641\u0638 \u0645\u06cc\u200c\u06a9\u0646\u062f.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/education\/technical-analysis-guide\/\" target=\"_blank\" rel=\"noopener\">\u0622\u0645\u0648\u0632\u0634 \u062a\u062d\u0644\u06cc\u0644 \u062a\u06a9\u0646\u06cc\u06a9\u0627\u0644<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img src=\"https:\/\/econclinic.com\/wp-content\/uploads\/2023\/08\/%DA%A9%D9%84%DB%8C%D9%86%DB%8C%DA%A9-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%AF%DA%A9%D8%AA%D8%B1-%D8%B3%D8%B9%D8%AF%D9%88%D9%86%D8%AF%DB%8C-%D8%A7%D9%86%D9%88%D8%A7%D8%B9-%D8%AF%D8%A7%D8%B1%D8%A7%DB%8C%DB%8C-%D9%87%D8%A7%DB%8C-%D9%BE%D8%A7%DB%8C%D9%87-%D9%85%D8%B4%D8%AA%D9%82%D8%A7%D8%AA-%D9%85%D8%A7%D9%84%DB%8C.webp\" alt=\"\u0627\u0646\u0648\u0627\u0639 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627\u06cc \u067e\u0627\u06cc\u0647 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc\" loading=\"lazy\" decoding=\"async\"><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0645\u0632\u0627\u06cc\u0627 \u0648 \u0645\u0639\u0627\u06cc\u0628 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0645\u0632\u0627\u06cc\u0627<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><span>\u0647\u0645\u0627\u0646\u0637\u0648\u0631 \u06a9\u0647 \u0645\u062b\u0627\u0644\u200c\u0647\u0627\u06cc \u0628\u0627\u0644\u0627 \u0646\u0634\u0627\u0646 \u0645\u06cc\u200c\u062f\u0647\u0646\u062f \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0627\u0628\u0632\u0627\u0631 \u0645\u0641\u06cc\u062f\u06cc \u0628\u0631\u0627\u06cc <b>\u06a9\u0633\u0628\u200c\u0648\u06a9\u0627\u0631\u0647\u0627<\/b> \u0648 <b>\u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u0627\u0646<\/b> \u0628\u0627\u0634\u0646\u062f \u0648 \u0631\u0627\u0647\u06cc \u0628\u0631\u0627\u06cc \u0627\u0646\u062c\u0627\u0645 \u0645\u0648\u0627\u0631\u062f \u0632\u06cc\u0631 \u0627\u0631\u0627\u0626\u0647 \u0645\u06cc\u200c\u062f\u0647\u0646\u062f:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>1- <b>\u0642\u0641\u0644 \u06a9\u0631\u062f\u0646 \u0642\u06cc\u0645\u062a\u200c\u0647\u0627<br><\/b><\/span><span><span style=\"text-align: var(--text-align)\">2- <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9<\/b><span style=\"text-align: var(--text-align)\"> \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 <\/span><span style=\"font-style: inherit;text-align: var(--text-align)\">\u062a\u063a\u06cc\u06cc\u0631\u0627\u062a \u0646\u0627\u0645\u0637\u0644\u0648\u0628<\/span><span style=\"text-align: var(--text-align)\"> \u062f\u0631 <b>\u0646\u0631\u062e\u200c\u0647\u0627<br><\/b><\/span><\/span><span>3- <b>\u06a9\u0627\u0647\u0634 \u0631\u06cc\u0633\u06a9<\/b><\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span>\u0627\u06cc\u0646 \u0645\u0632\u0627\u06cc\u0627 \u0627\u063a\u0644\u0628 \u0628\u0627 <b>\u0647\u0632\u06cc\u0646\u0647 \u0645\u062d\u062f\u0648\u062f\u06cc<\/b> \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0647\u0645\u0631\u0627\u0647 \u0628\u0627\u0634\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0631\u0627 \u0646\u06cc\u0632 \u0627\u063a\u0644\u0628 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0628\u0627 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0648\u062c\u0647 \u062a\u0636\u0645\u06cc\u0646<\/b><span style=\"text-align: var(--text-align)\"> (Margin) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn34\" name=\"_ftnref34\"><sup>[34]<\/sup><\/a><\/span> \u062e\u0631\u06cc\u062f\u0627\u0631\u06cc \u06a9\u0631\u062f\u060c \u0628\u0647 \u0627\u06cc\u0646 \u0645\u0639\u0646\u06cc \u06a9\u0647 \u0645\u0639\u0627\u0645\u0644\u0647\u200c\u06af\u0631\u0627\u0646 \u0627\u0632 \u0648\u062c\u0648\u0647 \u0642\u0631\u0636 \u06af\u0631\u0641\u062a\u0647 \u0634\u062f\u0647 \u0628\u0631\u0627\u06cc \u062e\u0631\u06cc\u062f \u0622\u0646\u200c\u0647\u0627 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0645\u06cc\u200c\u06a9\u0646\u0646\u062f \u06a9\u0647 \u0628\u0627\u0639\u062b \u0645\u06cc\u200c\u0634\u0648\u062f \u062d\u062a\u06cc \u0627\u0631\u0632\u0627\u0646\u200c\u062a\u0631 \u0628\u0627\u0634\u0646\u062f.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0645\u0639\u0627\u06cc\u0628<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><b>\u0627\u0631\u0632\u0634\u200c\u0633\u0646\u062c\u06cc<\/b> \u0645\u0634\u062a\u0642\u0627\u062a \u0628\u0647 \u062f\u0644\u06cc\u0644 \u0627\u06cc\u0646\u200c\u06a9\u0647 \u0628\u0631 \u0627\u0633\u0627\u0633 \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u062f\u06cc\u06af\u0631\u06cc \u0647\u0633\u062a\u0646\u062f \u062f\u0634\u0648\u0627\u0631 \u0627\u0633\u062a. \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc <b>\u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633<\/b> \u0634\u0627\u0645\u0644 <b>\u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644<\/b> \u0627\u0633\u062a \u06a9\u0647 <b>\u067e\u06cc\u0634\u200c\u0628\u06cc\u0646\u06cc<\/b> \u06cc\u0627 <b>\u0627\u0631\u0632\u0634\u200c\u0633\u0646\u062c\u06cc<\/b>\u00a0<span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn35\" name=\"_ftnref35\"><sup>[35]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0622\u0646 \u062f\u0634\u0648\u0627\u0631 \u0627\u0633\u062a. \u0628\u06cc\u0634\u062a\u0631 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0628\u0647 \u0645\u0648\u0627\u0631\u062f \u0632\u06cc\u0631 \u0646\u06cc\u0632 \u062d\u0633\u0627\u0633 \u0647\u0633\u062a\u0646\u062f:<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1- \u062a\u063a\u06cc\u06cc\u0631\u0627\u062a \u062f\u0631 \u0628\u0627\u0632\u0647 \u0632\u0645\u0627\u0646 \u062a\u0627 <b>\u0627\u0646\u0642\u0636\u0627\u06cc \u0642\u0631\u0627\u0631\u062f\u0627\u062f<\/b><br>2- <b>\u0647\u0632\u06cc\u0646\u0647 \u0646\u06af\u0647\u062f\u0627\u0631\u06cc<\/b> \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<br>3- <b>\u0646\u0631\u062e\u200c\u0647\u0627\u06cc \u0628\u0647\u0631\u0647<\/b><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u0627\u06cc\u0646 \u0645\u062a\u063a\u06cc\u0631\u0647\u0627 \u06a9\u0634\u0641 \u0627\u0631\u0632\u0634 \u06cc\u06a9 \u0645\u0634\u062a\u0642\u0647 \u0628\u0627 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0631\u0627 \u062f\u0634\u0648\u0627\u0631 \u0645\u06cc\u200c\u06a9\u0646\u062f.<br><span style=\"text-align: var(--text-align)\">\u0627\u0632 \u0622\u0646\u062c\u0627\u06cc\u06cc \u06a9\u0647 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u0631\u0632\u0634 \u0630\u0627\u062a\u06cc<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn36\" name=\"_ftnref36\"><sup>[36]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0646\u062f\u0627\u0631\u062f (\u0627\u0631\u0632\u0634 \u0622\u0646 \u0641\u0642\u0637 \u0627\u0632 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0645\u06cc\u200c\u0622\u06cc\u062f) \u062f\u0631 \u0628\u0631\u0627\u0628\u0631 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0627\u062d\u0633\u0627\u0633\u0627\u062a \u0628\u0627\u0632\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\"> (Market Sentiment) <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn37\" name=\"_ftnref37\"><sup>[37]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0648 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0631\u06cc\u0633\u06a9 \u0628\u0627\u0632\u0627\u0631<\/b><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn38\" name=\"_ftnref38\"><sup>[38]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0622\u0633\u06cc\u0628\u200c\u067e\u0630\u06cc\u0631 \u0627\u0633\u062a. \u0645\u0645\u06a9\u0646 \u0627\u0633\u062a \u0639\u0648\u0627\u0645\u0644 <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0639\u0631\u0636\u0647 \u0648 \u062a\u0642\u0627\u0636\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u0628\u062f\u0648\u0646 \u062a\u0648\u062c\u0647 \u0628\u0647 \u0627\u06cc\u0646\u06a9\u0647 \u062f\u0631 \u0642\u06cc\u0645\u062a \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 \u0686\u0647 \u0627\u062a\u0641\u0627\u0642\u06cc \u0645\u06cc\u200c\u0627\u0641\u062a\u062f \u0628\u0627\u0639\u062b \u0627\u0641\u0632\u0627\u06cc\u0634 \u0648 \u06a9\u0627\u0647\u0634 \u0642\u06cc\u0645\u062a \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0648 <\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/liquidity-risk\/\" target=\"_blank\" rel=\"noopener\">\u0646\u0642\u062f\u067e\u0630\u06cc\u0631\u06cc<\/a><\/span><span style=\"text-align: var(--text-align)\">\u00a0<\/span><span style=\"text-align: var(--text-align);color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn39\" name=\"_ftnref39\"><sup>[39]<\/sup><\/a><\/span><span style=\"text-align: var(--text-align)\"> \u0622\u0646 \u0634\u0648\u0646\u062f.<br><\/span><span style=\"text-align: var(--text-align)\">\u062f\u0631 \u0646\u0647\u0627\u06cc\u062a\u060c \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0639\u0645\u0648\u0644\u0627\u064b \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0627\u0647\u0631\u0645\u06cc \u0647\u0633\u062a\u0646\u062f \u0648 \u0627\u0633\u062a\u0641\u0627\u062f\u0647 \u0627\u0632 \u0627\u0647\u0631\u0645 \u0645\u0627\u0646\u0646\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0634\u0645\u0634\u06cc\u0631 \u062f\u0648 \u0644\u0628\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u0627\u0633\u062a. \u0647\u0645 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0628\u0627\u0632\u062f\u0647<\/b><span style=\"text-align: var(--text-align)\"> \u0631\u0627 \u0627\u0641\u0632\u0627\u06cc\u0634 \u062f\u0647\u062f \u0648 \u0647\u0645\u0686\u0646\u06cc\u0646 \u0628\u0627\u0639\u062b \u0645\u06cc\u200c\u0634\u0648\u062f <\/span><b style=\"font-style: inherit;text-align: var(--text-align)\">\u0636\u0631\u0631\u0647\u0627<\/b><span style=\"text-align: var(--text-align)\"> \u0633\u0631\u06cc\u0639\u062a\u0631 \u0627\u0641\u0632\u0627\u06cc\u0634 \u06cc\u0627\u0628\u0646\u062f.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0646\u0642\u0627\u0637 \u0642\u0648\u062a<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">1- \u0642\u0641\u0644 \u06a9\u0631\u062f\u0646 \u0642\u06cc\u0645\u062a\u200c\u0647\u0627<br>2- \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9<br>3- \u0627\u0647\u0631\u0645 \u06a9\u0631\u062f\u0646 \u0645\u0639\u0627\u0645\u0644\u0627\u062a<br>4- <b>\u0645\u062a\u0646\u0648\u0639 \u0633\u0627\u0632\u06cc \u067e\u0631\u062a\u0641\u0648\u06cc<\/b><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u0646\u0642\u0627\u0637 \u0636\u0639\u0641<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">1- <b>\u0627\u0631\u0632\u0634\u200c\u0633\u0646\u062c\u06cc<\/b> \u062f\u0634\u0648\u0627\u0631<br>2- \u0645\u0634\u0631\u0648\u0637 \u0628\u0647 \u0646\u06a9\u0648\u0644 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644 \u0645\u0639\u0627\u0645\u0644\u0647 (\u062f\u0631 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633)<br>3- \u062f\u0631\u06a9 \u067e\u06cc\u0686\u06cc\u062f\u0647<br>4- \u062d\u0633\u0627\u0633 \u0628\u0647 \u0639\u0648\u0627\u0645\u0644 \u0639\u0631\u0636\u0647 \u0648 \u062a\u0642\u0627\u0636\u0627<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span><strong>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/sales-to-working-capital-ratio\/\" target=\"_blank\" rel=\"noopener\">\u0646\u0633\u0628\u062a \u0641\u0631\u0648\u0634 \u0628\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647 \u062f\u0631 \u06af\u0631\u062f\u0634<\/a><\/span><\/strong><\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u0633\u0648\u0627\u0644\u0627\u062a \u0645\u062a\u062f\u0627\u0648\u0644 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc<\/strong><\/h2>\n\n\n<div id=\"rank-math-faq\" class=\"rank-math-block\">\n<div class=\"rank-math-list \">\n<div id=\"faq-question-rebuilt-2617-1\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p class=\"econ-pull\">\u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631\u06cc \u0627\u0633\u062a \u06a9\u0647 \u0627\u0631\u0632\u0634 \u0622\u0646 \u0648\u0627\u0628\u0633\u062a\u0647 \u0628\u0647 \u06cc\u0627 \u0645\u0634\u062a\u0642 \u0627\u0632 \u06cc\u06a9 <b>\u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647<\/b> \u0627\u0633\u062a. \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u060c <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0622\u062a\u06cc \u0646\u0641\u062a<\/b> \u0646\u0648\u0639\u06cc \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0627\u0633\u062a \u06a9\u0647 \u0627\u0631\u0632\u0634 \u0622\u0646 \u0628\u0631 \u0627\u0633\u0627\u0633 <b>\u0642\u06cc\u0645\u062a \u0628\u0627\u0632\u0627\u0631 \u0646\u0641\u062a<\/b> \u0627\u0633\u062a. \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u062f\u0631 \u062f\u0647\u0647\u200c\u0647\u0627\u06cc \u0627\u062e\u06cc\u0631 \u0628\u0647 \u0637\u0648\u0631 \u0641\u0632\u0627\u06cc\u0646\u062f\u0647\u200c\u0627\u06cc \u0645\u062d\u0628\u0648\u0628 \u0634\u062f\u0647\u200c\u0627\u0646\u062f \u0628\u0647 \u0637\u0648\u0631\u06cc \u06a9\u0647 \u0627\u0631\u0632\u0634 \u06a9\u0644 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0648\u062c\u0648\u062f \u062f\u0631 \u062a\u0627\u0631\u06cc\u062e <b>30 \u0698\u0648\u0626\u0646 2021<\/b>\u060c <b>610 \u062a\u0631\u06cc\u0644\u06cc\u0648\u0646 \u062f\u0644\u0627\u0631<\/b> \u0628\u0631\u0622\u0648\u0631\u062f \u0634\u062f\u0647 \u0627\u0633\u062a.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-rebuilt-2617-2\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>\u0646\u0645\u0648\u0646\u0647\u200c\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>\u0646\u0645\u0648\u0646\u0647\u200c\u0647\u0627\u06cc \u0631\u0627\u06cc\u062c \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0634\u0627\u0645\u0644 <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0622\u062a\u06cc<\/b>\u060c <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u062e\u062a\u06cc\u0627\u0631 \u0645\u0639\u0627\u0645\u0644\u0647<\/b> \u0648 <b>\u067e\u0627\u06cc\u0627\u067e\u0627\u06cc \u0646\u06a9\u0648\u0644 \u0627\u0639\u062a\u0628\u0627\u0631\u06cc<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn40\" name=\"_ftnref40\"><sup>[40]<\/sup><\/a><\/span> \u0627\u0633\u062a. \u0641\u0631\u0627\u062a\u0631 \u0627\u0632 \u0627\u06cc\u0646 \u0633\u0647 \u0645\u0648\u0631\u062f\u060c \u0634\u0645\u0627\u0631 \u0632\u06cc\u0627\u062f\u06cc \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u0648\u062c\u0648\u062f \u062f\u0627\u0631\u062f \u06a9\u0647 \u0628\u0631\u0627\u06cc \u067e\u0627\u0633\u062e\u06af\u0648\u06cc\u06cc \u0628\u0647 \u0637\u06cc\u0641 \u0645\u062a\u0646\u0648\u0639\u06cc \u0627\u0632 \u0646\u06cc\u0627\u0632\u0647\u0627\u06cc \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644 \u0637\u0631\u0627\u062d\u06cc \u0634\u062f\u0647 \u0627\u0633\u062a. \u062f\u0631 \u0648\u0627\u0642\u0639 \u0627\u0632 \u0622\u0646\u062c\u0627\u06cc\u06cc \u06a9\u0647 \u0628\u0633\u06cc\u0627\u0631\u06cc \u0627\u0632 \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u062f\u0631 <b>\u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u062e\u0627\u0631\u062c \u0627\u0632 \u0628\u0648\u0631\u0633<\/b> \u0645\u0639\u0627\u0645\u0644\u0647 \u0645\u06cc\u200c\u0634\u0648\u0646\u062f\u060c \u062f\u0631 \u0627\u0635\u0644 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646 \u0622\u0646\u200c\u0647\u0627 \u0631\u0627 \u0628\u0647 \u0635\u0648\u0631\u062a \u0646\u0627\u0645\u062d\u062f\u0648\u062f \u0633\u0641\u0627\u0631\u0634\u06cc\u200c\u0633\u0627\u0632\u06cc \u06a9\u0631\u062f.<\/p>\n\n<\/div>\n<\/div>\n<div id=\"faq-question-rebuilt-2617-3\" class=\"rank-math-list-item\">\n<h3 class=\"rank-math-question \"><strong>\u0645\u0632\u0627\u06cc\u0627 \u0648 \u062e\u0637\u0631\u0627\u062a \u0627\u0635\u0644\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f<\/strong><\/h3>\n<div class=\"rank-math-answer \">\n\n<p>\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0631\u0627\u0647 \u0628\u0633\u06cc\u0627\u0631 \u0645\u0646\u0627\u0633\u0628\u06cc \u0628\u0631\u0627\u06cc \u062f\u0633\u062a\u06cc\u0627\u0628\u06cc \u0628\u0647 \u0627\u0647\u062f\u0627\u0641 \u0645\u0627\u0644\u06cc \u0628\u0627\u0634\u0646\u062f. \u0628\u0647 \u0639\u0646\u0648\u0627\u0646 \u0645\u062b\u0627\u0644\u060c \u0634\u0631\u06a9\u062a\u06cc \u06a9\u0647 \u0645\u06cc\u200c\u062e\u0648\u0627\u0647\u062f \u062f\u0631 \u0628\u0631\u0627\u0628\u0631\u060c \u0642\u0631\u0627\u0631 \u06af\u0631\u0641\u062a\u0646 \u062f\u0631 \u0645\u0639\u0631\u0636 \u062e\u0637\u0631 (\u0646\u0627\u0634\u06cc \u0627\u0632 \u062a\u063a\u06cc\u06cc\u0631 \u0642\u06cc\u0645\u062a) <b>\u06a9\u0627\u0645\u0648\u062f\u06cc\u062a\u06cc\u200c\u0647\u0627<\/b> \u067e\u0648\u0634\u0634 \u0631\u06cc\u0633\u06a9 \u062f\u0647\u062f\u060c \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f \u0627\u06cc\u0646 \u06a9\u0627\u0631 \u0631\u0627 \u0628\u0627 \u062e\u0631\u06cc\u062f \u06cc\u0627 \u0641\u0631\u0648\u0634 <b>\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0627\u0646\u0631\u0698\u06cc<\/b> \u0645\u0627\u0646\u0646\u062f <b>\u0622\u062a\u06cc\u200c\u0647\u0627\u06cc \u0646\u0641\u062a<\/b> \u062e\u0627\u0645 \u0627\u0646\u062c\u0627\u0645 \u062f\u0647\u062f. \u0628\u0647 \u0637\u0648\u0631 \u0645\u0634\u0627\u0628\u0647 \u06cc\u06a9 \u0634\u0631\u06a9\u062a \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u062f <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/exchange-rate-risk\/\" target=\"_blank\" rel=\"noopener\">\u0631\u06cc\u0633\u06a9 \u0646\u0631\u062e \u0627\u0631\u0632<\/a><\/span> \u062e\u0648\u062f \u0631\u0627 \u0628\u0627 \u062e\u0631\u06cc\u062f <b>\u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0633\u0644\u0641 \u0627\u0631\u0632<\/b> \u067e\u0648\u0634\u0634 \u062f\u0647\u062f. \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u0647\u0645\u0686\u0646\u06cc\u0646 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0628\u0647 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u0627\u0646 \u06a9\u0645\u06a9 \u06a9\u0646\u0646\u062f \u062a\u0627 \u0645\u0648\u0642\u0639\u06cc\u062a\u200c\u0647\u0627\u06cc \u062e\u0648\u062f \u0631\u0627 \u0627\u0647\u0631\u0645 \u06a9\u0646\u0646\u062f\u060c \u0645\u0627\u0646\u0646\u062f <b>\u062e\u0631\u06cc\u062f \u0633\u0647\u0627\u0645<\/b> \u0627\u0632 \u0637\u0631\u06cc\u0642 <b>\u0627\u062e\u062a\u06cc\u0627\u0631 \u062e\u0631\u06cc\u062f<\/b> \u0633\u0647\u0627\u0645 \u0628\u0647 \u062c\u0627\u06cc \u062e\u0648\u062f \u0633\u0647\u0627\u0645. \u0627\u0634\u06a9\u0627\u0644\u0627\u062a \u0627\u0635\u0644\u06cc \u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0634\u0627\u0645\u0644 <b>\u0631\u06cc\u0633\u06a9 \u0637\u0631\u0641 \u0645\u0642\u0627\u0628\u0644<\/b>\u060c <b>\u0631\u06cc\u0633\u06a9 \u0630\u0627\u062a\u06cc \u0627\u0647\u0631\u0645<\/b> \u0648 \u0627\u06cc\u0646 \u0648\u0627\u0642\u0639\u06cc\u062a \u0627\u0633\u062a \u06a9\u0647 \u0634\u0628\u06a9\u0647\u200c\u0647\u0627\u06cc \u067e\u06cc\u0686\u06cc\u062f\u0647 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0645\u0634\u062a\u0642\u0647 \u0645\u06cc\u200c\u062a\u0648\u0627\u0646\u0646\u062f \u0645\u0646\u062c\u0631 \u0628\u0647 <b>\u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0633\u06cc\u0633\u062a\u0645\u06cc<\/b> <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftn41\" name=\"_ftnref41\"><sup>[41]<\/sup><\/a><\/span> \u0634\u0648\u0646\u062f.<\/p>\n<p>\u0645\u0646\u0628\u0639: <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/d\/derivative.asp\" target=\"_blank\" rel=\"noopener\">Investopedia<\/a><\/span><\/p>\n<p><strong><span>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f:<span style=\"color: #130170\"> <a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/education\/stock-market-complete-course\/\" target=\"_blank\" rel=\"noopener\">\u0622\u0645\u0648\u0632\u0634 \u0628\u0648\u0631\u0633 \u0631\u0627\u06cc\u06af\u0627\u0646<\/a><\/span><\/span><\/strong><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref1\" name=\"_ftn1\"><sup>[1]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/en.wikipedia.org\/wiki\/Chronic_inflation\" target=\"_blank\" rel=\"noopener\"><sup>Underlying Asset (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref2\" name=\"_ftn2\"><sup>[2]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/o\/otc.asp\" target=\"_blank\" rel=\"noopener\"><sup>Over-the Counter (investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref3\" name=\"_ftn3\"><sup>[3]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/h\/hedge.asp\" target=\"_blank\" rel=\"noopener\"><sup>Hedge (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref4\" name=\"_ftn4\"><sup>[4]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/en.wikipedia.org\/wiki\/Speculation\" target=\"_blank\" rel=\"noopener\"><sup>Speculation (Wikipedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref5\" name=\"_ftn5\"><sup>[5]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/f\/futures.asp\" target=\"_blank\" rel=\"noopener\"><sup>Futures (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref6\" name=\"_ftn6\"><sup>[6]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/f\/forwardcontract.asp\" target=\"_blank\" rel=\"noopener\"><sup>Forward Contracts (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref7\" name=\"_ftn7\"><sup>[7]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/o\/option.asp\" target=\"_blank\" rel=\"noopener\"><sup>Option (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref8\" name=\"_ftn8\"><sup>[8]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/s\/swap.asp\" target=\"_blank\" rel=\"noopener\"><sup>Swaps (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref9\" name=\"_ftn9\"><sup>[9]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.cmegroup.com\/\" target=\"_blank\" rel=\"noopener\"><sup>Chicago Mercantile Exchange<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref10\" name=\"_ftn10\"><sup>[10]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.occ.treas.gov\/topics\/supervision-and-examination\/capital-markets\/financial-markets\/counterparty-risk\/index-counterparty-risk.html#:~:text=Counterparty%20risk%20is%20the%20probability,default%20on%20the%20contractual%20obligations.\" target=\"_blank\" rel=\"noopener\"><sup>Counterparty Risk (OCC)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref11\" name=\"_ftn11\"><sup>[11]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/en.wikipedia.org\/wiki\/Default_(finance)\" target=\"_blank\" rel=\"noopener\"><sup>Default (Wikipedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref12\" name=\"_ftn12\"><sup>[12]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/currencyfuture.asp\" target=\"_blank\" rel=\"noopener\"><sup>Currency Futures (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref13\" name=\"_ftn13\"><sup>[13]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/currencyswap.asp\" target=\"_blank\" rel=\"noopener\"><sup>Currency Swaps (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref14\" name=\"_ftn14\"><sup>[14]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/currencyrisk.asp\" target=\"_blank\" rel=\"noopener\"><sup>Currency Risk (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref15\" name=\"_ftn15\"><sup>[15]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/l\/leverage.asp\" target=\"_blank\" rel=\"noopener\"><sup>Leverage (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref16\" name=\"_ftn16\"><sup>[16]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/articles\/active-trading\/040615\/introduction-trading-oil-futures.asp\" target=\"_blank\" rel=\"noopener\"><sup>Oil Futures (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref17\" name=\"_ftn17\"><sup>[17]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/en.wikipedia.org\/wiki\/Short_(finance)\" target=\"_blank\" rel=\"noopener\"><sup>Short (Wikipedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref18\" name=\"_ftn18\"><sup>[18]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/w\/wti.asp\" target=\"_blank\" rel=\"noopener\"><sup>West Texas Intermediate (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref19\" name=\"_ftn19\"><sup>[19]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/i\/indexfutures.asp\" target=\"_blank\" rel=\"noopener\"><sup>Index Futures (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref20\" name=\"_ftn20\"><sup>[20]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.cboe.com\/tradable_products\/vix\/vix_futures\/\" target=\"_blank\" rel=\"noopener\"><sup>Volatility Index Futures (CBOE)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[21]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/w\/weatherfuture.asp\" target=\"_blank\" rel=\"noopener\"><sup>Weather Future (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[22]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/creditrisk.asp\" target=\"_blank\" rel=\"noopener\"><sup>Credit Risk (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[23]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/cashflow.asp\" target=\"_blank\" rel=\"noopener\"><sup>Cash Flow (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[24]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/v\/variableinterestrate.asp\" target=\"_blank\" rel=\"noopener\"><sup>Variable Interest Rate (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[25]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/f\/fixedinterestrate.asp\" target=\"_blank\" rel=\"noopener\"><sup>Fixed Interest Rate (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[26]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/f\/financial-crisis.asp\" target=\"_blank\" rel=\"noopener\"><sup>Financial Crisis (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[27]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/a\/americanoption.asp\" target=\"_blank\" rel=\"noopener\"><sup>American Option (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[28]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/e\/europeanoption.asp\" target=\"_blank\" rel=\"noopener\"><sup>European Option (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[29]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/p\/putoption.asp\" target=\"_blank\" rel=\"noopener\"><sup>Put Option (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[30]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/s\/strikeprice.asp\" target=\"_blank\" rel=\"noopener\"><sup>Strike Price (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[31]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/p\/protective-put.asp\" target=\"_blank\" rel=\"noopener\"><sup>Protective Put (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[32]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/o\/option-premium.asp\" target=\"_blank\" rel=\"noopener\"><sup>Option Premium (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[33]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/calloption.asp\" target=\"_blank\" rel=\"noopener\"><sup>Call Option (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[34]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/m\/margin.asp\" target=\"_blank\" rel=\"noopener\"><sup>Margin (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[35]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/v\/valuation.asp\" target=\"_blank\" rel=\"noopener\"><sup>Valuation (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[36]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/i\/intrinsicvalue.asp\" target=\"_blank\" rel=\"noopener\"><sup>Intrinsic Value (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[37]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/m\/marketsentiment.asp\" target=\"_blank\" rel=\"noopener\"><sup>Market Sentiment (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[38]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/m\/marketrisk.asp\" target=\"_blank\" rel=\"noopener\"><sup>Market Risk (Wikipedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[39]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/economictimes.indiatimes.com\/definition\/liquidity\" target=\"_blank\" rel=\"noopener\"><sup>Liquidity (The Economic Times)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[40]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/c\/creditdefaultswap.asp\" target=\"_blank\" rel=\"noopener\"><sup>Credit Default Swap (Investopedia)<\/sup><\/a><\/span><\/p>\n<p style=\"direction: ltr\"><span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"#_ftnref21\" name=\"_ftn21\"><sup>[41]<\/sup><\/a>   <a style=\"color: #3366ff\" href=\"https:\/\/www.investopedia.com\/terms\/s\/systemic-risk.asp\" target=\"_blank\" rel=\"noopener\"><sup>Systemic Risk (Investopedia)<\/sup><\/a><\/span><\/p>\n<p><strong><span>\u0628\u06cc\u0634\u062a\u0631 \u0628\u062e\u0648\u0627\u0646\u06cc\u062f: <span style=\"color: #130170\"><a style=\"color: #130170\" href=\"https:\/\/econclinic.com\/mag\/encyclopedia\/types-of-financial-risk\/\" target=\"_blank\" rel=\"noopener\">\u0627\u0646\u0648\u0627\u0639 \u0631\u06cc\u0633\u06a9\u200c\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc<\/a><\/span><\/span><\/strong><\/p>\n<aside class=\"ec-cc\" role=\"complementary\" aria-label=\"\u0622\u0645\u0648\u0632\u0634 \u062c\u0627\u0645\u0639 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u062f\u0631 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc | \u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u062b\u0631\u0648\u062a\">\n\t\t<a class=\"ec-cc__thumb\" href=\"https:\/\/econclinic.com\/\u062f\u0648\u0631\u0647-\u0647\u0627\u06cc-\u0622\u0645\u0648\u0632\u0634\u06cc\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d8%ac%d8%a7%d9%85%d8%b9-%d8%b3%d8%b1%d9%85%d8%a7%db%8c%d9%87%da%af%d8%b0%d8%a7%d8%b1%db%8c-%d8%af%d9%88%d8%b1%d9%87-%d8%ab%d8%b1%d9%88%d8%aa\/\" tabindex=\"-1\" aria-hidden=\"true\"><img class=\"ec-cc__img\" src=\"https:\/\/econclinic.com\/wp-content\/uploads\/2025\/07\/\u062f\u0648\u0631\u0647-\u062c\u0627\u0645\u0639-\u062b\u0631\u0648\u062a.png.webp\" width=\"857\" height=\"457\" alt=\"\u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u062b\u0631\u0648\u062a \u062f\u06a9\u062a\u0631 \u0633\u0639\u062f\u0648\u0646\u062f\u06cc\" loading=\"lazy\" decoding=\"async\" srcset=\"https:\/\/econclinic.com\/wp-content\/uploads\/2025\/07\/\u062f\u0648\u0631\u0647-\u062c\u0627\u0645\u0639-\u062b\u0631\u0648\u062a.png.webp 857w, https:\/\/econclinic.com\/wp-content\/uploads\/2025\/07\/\u062f\u0648\u0631\u0647-\u062c\u0627\u0645\u0639-\u062b\u0631\u0648\u062a.png-300x160.webp 300w, https:\/\/econclinic.com\/wp-content\/uploads\/2025\/07\/\u062f\u0648\u0631\u0647-\u062c\u0627\u0645\u0639-\u062b\u0631\u0648\u062a.png-768x410.webp 768w, https:\/\/econclinic.com\/wp-content\/uploads\/2025\/07\/\u062f\u0648\u0631\u0647-\u062c\u0627\u0645\u0639-\u062b\u0631\u0648\u062a.png-600x320.webp 600w\" sizes=\"auto, (max-width: 857px) 100vw, 857px\"><\/a>\n\t\t<div class=\"ec-cc__body\">\n\t\t\t\t<ul class=\"ec-cc__meta\"><li>102 \u0633\u0627\u0639\u062a<\/li><\/ul>\n\t\t\t\t\t\t<div class=\"ec-cc__prices\">\n\t\t\t<span class=\"ec-cc__price\">\u06f4\u06f6\u066c\u06f3\u06f5\u06f0\u066c\u06f0\u06f0\u06f0 <span class=\"ec-cc__unit\">\u062a\u0648\u0645\u0627\u0646<\/span><\/span>\n\t\t\t\t\t\t<del class=\"ec-cc__was\">\u06f8\u06f3\u066c\u06f4\u06f2\u06f5\u066c\u06f0\u06f0\u06f0<\/del>\n\t\t\t\t\t<\/div>\n\t\t\t\t<a class=\"ec-cc__cta\" href=\"https:\/\/econclinic.com\/\u062f\u0648\u0631\u0647-\u0647\u0627\u06cc-\u0622\u0645\u0648\u0632\u0634\u06cc\/%d8%a2%d9%85%d9%88%d8%b2%d8%b4-%d8%ac%d8%a7%d9%85%d8%b9-%d8%b3%d8%b1%d9%85%d8%a7%db%8c%d9%87%da%af%d8%b0%d8%a7%d8%b1%db%8c-%d8%af%d9%88%d8%b1%d9%87-%d8%ab%d8%b1%d9%88%d8%aa\/\" aria-label=\"\u0645\u0634\u0627\u0647\u062f\u0647\u0654 \u062f\u0648\u0631\u0647 \u2014 \u0622\u0645\u0648\u0632\u0634 \u062c\u0627\u0645\u0639 \u0633\u0631\u0645\u0627\u06cc\u0647\u200c\u06af\u0630\u0627\u0631\u06cc \u062f\u0631 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc | \u062f\u0648\u0631\u0647 \u062c\u0627\u0645\u0639 \u062b\u0631\u0648\u062a\">\n\t\t\t\u0645\u0634\u0627\u0647\u062f\u0647\u0654 \u062f\u0648\u0631\u0647\t\t\t<svg viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M15 5l-7 7 7 7\"\/><\/svg>\n\t\t<\/a>\n\t<\/div>\n<\/aside>\n\t\t\n<span>\u0644\u06cc\u0646\u06a9 \u06a9\u0648\u062a\u0627\u0647: <span style=\"color: #3366ff\"><a style=\"color: #3366ff\" href=\"https:\/\/B2n.ir\/q78156\" target=\"_blank\" rel=\"noopener\">https:\/\/B2n.ir\/q78156<\/a><\/span><\/span><\/p>\n<p class=\"econ-course-cta\"><strong>\u0645\u06cc\u200c\u062e\u0648\u0627\u0647\u06cc\u062f \u0639\u0645\u06cc\u0642\u200c\u062a\u0631 \u06cc\u0627\u062f \u0628\u06af\u06cc\u0631\u06cc\u062f\u061f<\/strong> <a href=\"https:\/\/econclinic.com\/%d8%af%d9%88%d8%b1%d9%87-%d9%87%d8%a7%db%8c-%d8%a2%d9%85%d9%88%d8%b2%d8%b4%db%8c\/%d8%a8%d8%a7%d8%b2%d8%a7%d8%b1%d9%87%d8%a7%db%8c-%d9%be%d9%88%d9%84%db%8c-%d8%ac%d9%87%d8%a7%d9%86-%d8%af%d9%88%d8%b1%d9%87-%d8%ac%d8%a7%d9%85%d8%b9-%d9%be%d9%88%d9%84\/\">\u062f\u0648\u0631\u0647\u0654 \u062c\u0627\u0645\u0639 \u0633\u06cc\u0627\u0633\u062a\u200c\u06af\u0630\u0627\u0631\u06cc \u067e\u0648\u0644\u06cc<\/a> \u2014 \u0633\u0627\u0632\u0648\u06a9\u0627\u0631 \u0628\u0627\u0646\u06a9 \u0645\u0631\u06a9\u0632\u06cc\u060c \u0627\u0628\u0632\u0627\u0631\u0647\u0627\u06cc \u0633\u06cc\u0627\u0633\u062a \u067e\u0648\u0644\u06cc \u0648 \u0627\u062b\u0631\u0634\u0627\u0646 \u0628\u0631 \u0628\u0627\u0632\u0627\u0631\u0647\u0627\u06cc \u0645\u0627\u0644\u06cc.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\r\n\t\t<div class=\"review_wrap\">\r\n\t\t\t<div id=\"review-box\" class=\"review-box review-bottom review-stars\"><h2 class=\"review-box-header the-global-title\">\u0628\u0647 \u0627\u06cc\u0646 \u0645\u0637\u0644\u0628 \u0627\u0645\u062a\u06cc\u0627\u0632 \u062f\u0647\u06cc\u062f<\/h2>\r\n\t\t\t\t<div class=\"review-summary\">\r\n\t\t\t\t\t<div class=\"review-final-score\">\r\n\t\t\t\t\t\t<span title=\"\" class=\"post-large-rate stars-large\"><span style=\"width:0%\"><\/span><\/span>\r\n\t\t\t\t\t\t\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\r\n\t\t\t\t<div class=\"review-short-summary\">\r\n\t\t\t\t<\/div>\r\n\t\t\t<\/div>\r\n\t\t\t\r\n\t\t\t<div class=\"user-rate-wrap\">\r\n\t\t\t\t<span class=\"user-rating-text\">\r\n\t\t\t\t\t<strong>\u0627\u0645\u062a\u06cc\u0627\u0632 \u062e\u0648\u0627\u0646\u0646\u062f\u06af\u0627\u0646: <\/strong>\r\n\t\t\t\t\t<span class=\"taq-score\"><\/span>\r\n\t\t\t\t\t<small>\u0627\u0648\u0644\u06cc\u0646 \u0646\u0641\u0631 \u0628\u0627\u0634\u06cc\u062f<\/small>\r\n\t\t\t\t<\/span>\r\n\r\n\t\t\t\t<div data-rate=\"0\" data-id=\"2617\" class=\"user-rate taq-user-rate-active\">\r\n\t\t\t\t\t<span class=\"user-rate-image post-large-rate stars-large\">\r\n\t\t\t\t\t\t<span style=\"width:0%\"><\/span>\r\n\t\t\t\t\t<\/span>\r\n\t\t\t\t<\/div>\r\n\r\n\t\t\t\t<div class=\"taq-clear\"><\/div>\r\n\r\n\t\t\t<\/div>\r\n\t\t<\/div>\r\n\t<\/div><style id=\"econ-pull-css\" data-no-optimize=\"1\">.entry-content p.econ-pull{margin-block:1.9em;padding:18px 22px;border-inline-start:4px solid var(--ec-gold,var(--ec-btn-gold,#ccb070));border-radius:0 var(--ec-card-radius,14px) var(--ec-card-radius,14px) 0;background:var(--ec-card-bg,rgba(10,8,48,.03));font-size:1.09em;line-height:1.95;font-weight:500;color:var(--ec-navy,#0a0830);}.entry-content p.econ-pull::before{content:\"\";display:block;inline-size:26px;block-size:3px;margin-block-end:12px;background:var(--ec-gold,var(--ec-btn-gold,#ccb070));border-radius:2px;}@media (max-width:600px){.entry-content p.econ-pull{padding:14px 16px;font-size:1.05em}}<\/style>","protected":false},"excerpt":{"rendered":"<p>\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f \u0627\u0646\u0648\u0627\u0639 \u0622\u0646 \u06a9\u062f\u0627\u0645 \u0627\u0633\u062a\u061f \u0627\u0646\u0648\u0627\u0639\u060c \u0645\u0644\u0627\u062d\u0638\u0627\u062a\u060c \u0645\u0632\u0627\u06cc\u0627 \u0648 \u0645\u0639\u0627\u06cc\u0628 \u0622\u0646\u0686\u0647 \u0634\u0645\u0627 \u0628\u0627\u06cc\u062f \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f\u0647\u0627\u06cc \u0627\u0648\u0631\u0627\u0642 \u0628\u0647\u0627\u062f\u0627\u0631 \u0628\u062f\u0627\u0646\u06cc\u062f 24 \u062c\u0648\u0644\u0627\u06cc 2023 \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0686\u06cc\u0633\u062a\u061f \u0627\u0635\u0637\u0644\u0627\u062d \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u0647 \u0646\u0648\u0639\u06cc \u0627\u0632 \u0642\u0631\u0627\u0631\u062f\u0627\u062f \u0645\u0627\u0644\u06cc \u06a9\u0647 \u0627\u0631\u0632\u0634 \u0622\u0646 \u0628\u0647 \u06cc\u06a9 \u062f\u0627\u0631\u0627\u06cc\u06cc \u067e\u0627\u06cc\u0647 [1]\u060c \u06af\u0631\u0648\u0647\u06cc \u0627\u0632 \u062f\u0627\u0631\u0627\u06cc\u06cc\u200c\u0647\u0627 \u06cc\u0627 \u06cc\u06a9 \u0634\u0627\u062e\u0635 \u0648\u0627\u0628\u0633\u062a\u0647 \u0627\u0633\u062a \u0627\u0634\u0627\u0631\u0647 \u062f\u0627\u0631\u062f. \u0627\u0628\u0632\u0627\u0631 \u0645\u0634\u062a\u0642\u0647 \u0628\u06cc\u0646 &hellip;<\/p>\n","protected":false},"author":13,"featured_media":2618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100],"tags":[93,142,143],"ecn_content_layer":[130],"class_list":["post-2617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-risk-derivatives","tag-93","tag-142","tag-143","ecn_content_layer-encyclopedia"],"ecnd_newsletter":{"title":"\u0645\u0634\u062a\u0642\u0627\u062a \u0645\u0627\u0644\u06cc \u0686\u06cc\u0633\u062a\u061f","summary":"[econ_toc]","url":"https:\/\/econclinic.com\/mag\/encyclopedia\/financial-derivatives\/","source":""},"permalink_manager":null,"_links":{"self":[{"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/posts\/2617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/comments?post=2617"}],"version-history":[{"count":2,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/posts\/2617\/revisions"}],"predecessor-version":[{"id":3428,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/posts\/2617\/revisions\/3428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/media\/2618"}],"wp:attachment":[{"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/media?parent=2617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/categories?post=2617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/tags?post=2617"},{"taxonomy":"ecn_content_layer","embeddable":true,"href":"https:\/\/econclinic.com\/mag\/wp-json\/wp\/v2\/ecn_content_layer?post=2617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}