Research subject – the work analyzies currency risk, which is a new topic in Lithuanian scientific literature, it also provides currency risk management definition and classification of currency rates. It points out different currency rate risk kinds, as well as provides most popular means of nowadays‘ currency risk management. The work describes currency rate risk management model, which can be used to identify currency rate risk and its size in order to choose optimum means of currency rate risk management.

Thesis deals with the attraction of Czech government bonds from the perspective of foreign investors in relation with the current economic development in CEE region, and further in the rest of the world. Analysis is targeted to issue of the Czech government bonds in turn of 2009 and 2010. After the analysis and description of foreign investors representing huge part of the entire demand for the Czech government bonds on the domestic and foreign markets the paper further covers individual pros and cons of the instrument. The empirical analysis is conducted as the comparison of the yields and risk of Czech goventment bonds with the similar instruments issued by Hungarian and Slovakian governments. Separate part of the thesis covers the characteristics of used instruments (Czech T-Notes and T-Bills) and legal adjustments of the auctions through which these instruments are placed on the domestic market. Thesis also contains a separate chapters covering the results of former issues of the Czech government bonds abroad and the analysis of tax consequences resulting from holding and selling the Czech government bonds by foreign investors.