This work carries out a study of the foreign exchange exposure profile and its coverage through a sample of 100 non-financial companies listed on the Spanish stock market over the period 2004-2010. Results show that most firms are proactive in managing exchange rate risk, using different products to hedge them. Indeed, the realisation of a significant volume of foreign sales combined with the existence of subsidiaries in these markets outside the euro area are the main source of exchange rate risk. As in studies carried out for other markets, it is also confirmed that the use of derivatives is the most common practice in addition to currency borrowing. Companies also use operational hedging techniques.