Non-hedging techniques include: a)  Settlement of transaction through advance payment, which though beneficial for an exporter, carries a cost for the importer and is impossible for a borrower. Even for the exporter, it is doubtful, in how many cases in our context an exporter can demand and obtain advance payment without the risk of losing the order.
b)  Invoicing in the home currency has been discussed a great deal in recent times, which, however is quite some time away before it can be effectively implemented. In the current state of global slow-down declining exports, our exporters simply are not in a position to dictate terms. 11.