Which of the following instruments have been used to hedge interest and currency risks?

Swaps, options, and forwards are all derivative instruments commonly used to hedge financial risks. Interest rate swaps help manage exposure to fluctuating interest rates by exchanging fixed and floating rate payments. Options provide the right (but not obligation) to exchange currency at predetermined rates, offering protection against adverse currency movements. Forward contracts lock in exchange rates for future transactions, eliminating uncertainty about currency fluctuations. All three instruments serve different but complementary roles in managing financial risk.