07-08_08_Foreign_Exchange_and___Global_Financial_Markets.ppt

Fundamentals of International Business Chapter 8 Foreign Exchange and Global Financial Markets Outline The Purpose of Exchange Rates The Market for Currencies Evolution of the Global Monetary System International Money Markets International Capital Markets International Banking and Bank Lending International Security Markets International Equity Markets Conclusion – Gaining Access to Global Financial Markets Key Terms and Concepts Purchasing power parity (PPP) 购买力平价理论 Law of One Price 一价定律 Foreign currency exchange rate 外币汇率/兑换率 Direct exchange quotation 直接外汇标价 Indirect exchange quotation 间接外汇标价 Spot exchange rates 即期汇率 /现汇汇率 Forward exchange rates 远期汇率 European terms 欧洲方式 American terms 美国方式 Cross rates 套算汇率 Triangular arbitrage 三角套汇 Gold standard 金本位制 Bretton Woods Agreement 布雷顿森林协定 Direct intervention 直接干预 Coordinated intervention 联合干预 Eurocurrency 欧洲货币 Eurodollars 欧洲美元 Interbank interest rate 银行间同业拆借利率 Euromarkets 欧洲市场 Selling forward 预售 / 卖期货 Correspondent bank 代理银行/ 往来银行 Representative office 代表处 International bond 国际债券 Foreign bond 外国债券 Eurobond 欧洲债券 Bearer bond 无记名债券 American Depository Receipts (ADRs) 美国保管人收据 Other Terms and Expressions the conduct of business 商务行为 Exchange rate 汇率 Interest rate 利率 The European Union 欧盟 Legal tender 法定货币 Financial transaction 金融交易 International currency 国际货币 Foreign currency markets 外币市场 Foreign exchange reserves 外汇储备 Global financial markets 全球金融市 International financial markets 国际金融市场 International trade and investment transactions 国际贸易投资交易 The securities markets 证券市场 “The golden-arches standard” “金色拱门标准” The Big Mac Index 大汉堡指数 Emerging economies 新兴经济体 Countertrade transactions 易物交易 Currency symbols 货币标志 Official rates 官方汇率/利率 Floating rates 浮动汇率/利率 Fixed rates 固定汇率/利率 Commercial rate 商业汇率 Financial rate 金融汇率 The Financial Times 《金融时报》 The Wall Street Journal 《华尔街日报》 The Bank of International Settlement