汇率的决定与国际平价条件方案.pptVIP

第一章汇率决定与国际平价条件 基本内容 有关外汇与汇率的基本知识（reference to chapter four) 汇率变化幅度的测定 汇率变化的影响因素 购买力平价 利率平价 国际费雪效应 汇率预测 Foreign exchange (fx) markets An exchange rate measures the value of one currency in units of another currency. Markets Spot market Trade in cash with delivery in two business days Forward market Trade at a pre-specified price and on a pre-specified future date Volume $1.2 trillion average daily volume during 2001 75% of trade is in the interbank market（75%的交易是银行之间的外汇交易，其日均交易额达1.2trillion 美元） FX turnover by currency Participants in the fx market Wholesale market Dealers (or market maker