FX forward curves

Forward value of each currency Carlsberg earns in, against the euro · built 02 Nov 2026, 05:09

Forward curves for the currencies Carlsberg earns in, from Investing.com's forward-points table. Each line is the forward value of one unit of that currency, in euros, as a percentage of today's spot. Above zero, selling that currency forward locks in more euros than spot would; below zero, less. This is the interest-rate gap between the two currencies, not a forecast of where the currency goes. Euro is shown against the Danish krone, the reporting currency.

Forward curves, % against spot

By tenor, in euro terms. Kazakhstan tenge and Indian rupee sit far below the rest and are on the right.

Highest-carry currencies, % against spot

Tenge, rupee and krone cost the most to hedge: selling them forward gives up this much.

Every currency

CurrencyWhere Carlsberg earns it1 month3 months6 months 1 year1 year, annualData note

What this is and is not

Forward points come from Investing.com's forward-rates table (mid of bid and offer; some quotes are a few days old, stamped 30 October to 2 November) and spot from open.er-api.com. Quotes beyond a year are noisy for the thin currencies and are not used. Ukrainian hryvnia is left out: its forward quotes there have not updated since August. Yuan, rupee, dong and tenge are crossed through the dollar, so they carry two quote errors, not one. Not shown: Carlsberg's own hedge book and rates, which only the company reports.