RMBandCEPA.pptVIP

Stephen Cheung City University of Hong Kong City University of Hong Kong Stephen Cheung RMB and CEPA Stephen Yan-Leung Cheung Professor (Chair) of Finance City University of Hong Kong Contents Current debates on RMB CEPA’s impacts on Hong Kong Others Variable The spot exchange rate, S, is the rate of exchange of 2 currencies for immediate delivery. The forward exchange rate, F, is the rate of exchange rate of 2 currencies on one date for delivery at a future specified date. For example, the Euro/US dollars forward exchange rate for delivery in one year is 1.3 US$ for 1 Euro The objective is