Currency management, as a subfield of international financial management, deals with how the currency-related composition of cash flows in companies can be influenced. The objective is to optimize foreign currency positions in terms of returns and risks. Following a fundamental introduction, key concepts such as exchange rate risk, hedging, and speculation are explained, and instruments for pursuing hedging and/or speculation goals in foreign exchange markets are presented. The theoretically grounded knowledge is deepened through a variety of specific currency hedging problems. These range from isolated hedging with forwards or futures for secure or uncertain foreign currency positions to the simultaneous use of forwards and options, as well as sequential decision problems. Each chapter is supplemented with questions and exercises.