4  Competitive Monetary Easing: Is it yesterday once more? – Remarks by Dr. Raghuram G. Rajan at the Brookings Institution, April 10, 2014. BIS central bankers’ speeches  3  imagine how vulnerable corporates can become if they have too much of foreign currency exposures.
For those business entities that do not have a natural hedge, mere cost advantage in terms of pure interest rate differential (without the hedge costs) should not be the guiding factor for overseas borrowing.