 तो गरन्सी रिष्ग, तो गरन्सी रिष्ग is the fluctuation. तो गरन्सी is known as the exchange rate risk. It refers to possibility of a decline in value of return accruing to an investor owing to the depreciation of the value of the domestic currency. कि हमारे रिटन में जो फाल आजाए, में वजा देप्रीष्याशन आप गरन्सी हो, that will be mainly referred to as currency risk. The risk is usually taken into consideration when international investment is being made. के आपने अगर यहांपे बैटके किसी और मुल्क में इंवेस्ट कर रहे है, तो अगर आपको लेट से वहां का रिटन तो बेता था, but when you convert it back to your own country and the currency depreciation factor is there, then maybe you are not getting the desired return. तो इसलिए जब भी international investment आती है, then the currency risk has to be taken into account because that plays a role in the overall return that you will be able to fetch. In order to mitigate the risk of losing out foreign investment, many emerging market economies maintain high foreign exchange reserves in order to ensure that any possible depreciation can be negated by selling the reserves. तो यहार मुल्क जो एह जो emerging market specially, they keep reserve of the foreign currencies ताके इंकी करन्सी में वोड़ जादा कही fall factor नाए. उगर आपने देखा हो गे हमारे पाज जब reserves जीनिम्म थे तो मारी भी लोकल करन्सी की देप्रिसेशन बहुत जादा थी. तो वंस भी रीज अगोड लेवल अप रीज़र्फ, तो ये पेर देप्रिसेशन काला जो एलिमेंट है, ये काफी हर तक कर टेल हो जाता है, with the intervention of the state bank. Other factors are there, but this is one of the way in which currencies are having more stability when they are having a good reserve level. Country risk. As we are talking about bigger markets, so it's not necessary about specific market within a country. It can be an international portfolio, तो फिर यहापे एक करन्त्री रिस्क भी त्रिगर वो सकता है. Many macro variables that are outside the control of the financial market can impact the level of return due to an investment, but they can definitely impact us. They include degree of political stability, level of fiscal deficit. Political stability that governments are there, one government changed to another, वो कितना प्रोसेश अचा है, democratic system is so strong. Electables, method, elections, और जो पावर्स है, and the movement between one government, एरा थो एनदर, वो कितनी stable है. विस्कल देफिसेट, पेमेंच का साइकल कैसा है, natural disasters कितने जादा उसे एरिये को पर्टिकुलर लींपक कते है, regulatory environment कितना स्वाँग है, these are factors, जो के एक country level risk पे इंपक कते है. तो वन भी एनवेस्टिं, globally we have to see the country risk factors, परटिकुलर to that region. The degree of risk associated with such factor must be taken into consideration while making international investment scene. जब नहीं अपनी अपनी अपनी नहीं, तो हमे ये रिस्क भो जादा, important to take care to account for. How to mitigate market risk? हमने multiple types of risks पर लींगे, ये types क्या क्या है, क्या से एकजिस्ट करती है, so how to mitigate them? Risk that affect the entire market, it cannot be diversified in order to be mitigated. ये हमने बात होगी, अन सिस्तमाटिक हो तो देवर्सिफाय कर सकते थे, सिस्तमाटिक हो नहीं, ये रहेगा. So what we have to do is that can be hedged for a minimal exposure. क्यम हेजिं तूल्स लाएं, चो हमारे ये रिस्क को काम करें. As a result, investors may fail to earn expected return despite rigorous application of fundamental and technical analysis. अगर हम ये नहीं कर बाते है, नहीं होती, outcome ती, impact, effect हो सकती है, because of the market risk. तो ये हमें बड़ा नहीं लिस को देखना परता है. Wallatility or the absolute person dispersion in price is often considered a good mayor for market risk. कितनी मुवमेंत आरी है, उस में कितने एर्याज है, ये market risk को गेज कने का एक रहें, तूल है. Professional analysts tends to use more methods such as वार, modeling to identify potential loss, कि कितना loss हो सकता है, हम इसकी गेज करते है, इसकी modeling करते है, उसको impact लाते है, and then we take into account mayors के जिसके तूर हम उसको root करें, तो statistical rules, statistical risk management techniques लगाई जाती है, to gauge and apply them. The wire method is a standard method for evaluation of market risk. ये बडा frequently used क्या जाता है, this is a risk management that involve use of statistical tools to quantify a stock or portfolio prospective loss. कि हमें कितना loss हो सकता है, ये हम इसमें से गेज करते है, और उसकी probability को account for करते है, तो main is क्यमारा कितना portfolio at risk है, that is being considered by wire, getting a value at risk किसको आप कहते है. Although it is widely utilized, the wire method requires some assumptions. इस में कुछ की assumptions लीज आती है, और जो इसके accuracy को भी definitely limit कर देती है, because there is a rule कि आप किस तरा की assumptions करेंगे उस तरा की आपकी output है, तो लिए जो इसकी assumptions है, that need to be very carefully taken और हमें उसकी utilization देखनी होती है, the beta coefficient enables an investor to measure how volatile the nature or market risk of portfolio is compared to rest of market. कि जो हमारे portfolio या मारी security को market से linkage which is considered to be that is done through beta. तो वो बताता है के मारी on market से sensitivity कितनी है, अगर बहुत कम भीटा है, उसके माराya sensitivity इतनी जादा नहीं है, अगर higher beta है, उसके बहुत जादा उसके साथ associated है, market risk हमें बहुत जादा impact करे गा, अगर कम बहुत लिए, उसके लिए, लिए लिए तो च्यार्टा, बहुत भीटा के लिए, वागर बहुत बहुत है, तो बहुत बहुत लिए गपाता दे जादा रहा है, और गपाता है, दे ख्लगे आप ठादा, आप लगके ड़ने रहां, to gauge them we need to know them and we need to take my years to edge them thank you