Financial Analyst chiming in here. Enoch Root is correct with most of what I read. Especially regarding Forward Contracts, also it's true that the Flames would have likely budgeted for the fiscal year prior to the start of the season (depending on their reporting calendar) so if they did in fact hedge at that time they have significantly reduced their risk of foreign exchange exposure. Also they may have hedged their rate as far as 18 months out (lots of oil companies did do this last year, they are the ones who haven't done massive restructuring). However if they did not foresee the collapse of the CAD and did not hedge this would not help them out today as the banks generally give you a fixed rate at slightly lower than the daily noon trading rate.
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