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Currency Exchange – Krone

Hi Anna I must say that I love your site. Having working in the financial markets for a few years supplying quote terminals to major brokers, all the terminology came flooding back to me. Quick question. We currently purchase product from Denmark and pay in Krone. The rate has changed from 10.5 to about 9.5 in the past few months and caught us out a bit. What would you suggest we need to do to hedge ourselves against this in the future? Currency options/futures. Should we have, or can we still lock ourselves into a rate of 10.5? Many thanks and regards – Simon