For hedging FOREX market offers_______a.loansb.forward contractsc.credit instrumentsd.all of the above

To determine the best answer to the question regarding what hedging in the FOREX market offers, let's analyze the provided options:

1. Loans: While loans can involve foreign exchange transactions, they are not a primary tool for hedging against currency risk.

2. Forward contracts: These are commonly used instruments in the FOREX market to hedge against exchange rate fluctuations. A forward contract allows parties to lock in an exchange rate for a future date, thus managing the risk of currency movements.

3. Credit instruments: This can refer to various financial products that may involve the use of foreign currencies, but they are not specifically designed for hedging like forward contracts.

4. All of the above: This option suggests that loans, forward contracts, and credit instruments all contribute to hedging within the FOREX market.

Given that forward contracts are the most direct and widely recognized tool for hedging currency risk, and loans and credit instruments can also play a role but are less common, the option "b. forward contracts" emerges as essential. However, since the question allows for the possibility that all could be considered in a broader sense of risk management in the market, the safest choice would be:

Final Answer:

d. all of the above