5.foreign exchange rate 金融英语.pptVIP

Lesson FiveForeign Exchange Rates Words and Expressions Strike deals 敲定交易 Foreign exchange 外汇 Impersonal mechanism 非个人机制 Incorporate 结合;合并 Arbitrage 套汇 Demand curve 需求曲线 Speculator 投机商 Market fluctuation 市场波动 Foreign exchange Foreign exchange is the currency of another country needed to carry out international transactions. Typically, foreign exchange is made up of bank deposits denominated in the foreign currency. Foreign exchange rate is determined in foreign exchange market. You will recall that a market is an impersonal mechanism that coordinates the decisions of many independent buys and sellers. The foreign exchange market incorporates包含 all the arrangements used to buy and sell foreign exchange. Rate of exchange The rate of exchange is the ratio by which one currency is expressed用…表示 in terms of换言之 another, or, in other words, the number of units of one currency that can be expressed for units of another currency. The exchange rate between these two currencies—the price of one in terms of the other-is the means by which the cost to the seller in one country is translated into the price to the buyer in another country. There are generally two methods of exchange rate quotation, i.e., the direct quotation, which means one unit of a foreign currency is worth a given number of currency of the home country, and indirect quotation, which means one unit of a home currency is equal to a given number of foreign currency. For instance, in the case of exchange quotations of Chinese currency against Canadian currency, the direct quotation is how many Renminbi Yuan, Jiao and Fen per Canadian dollar, while the indirect quotation is how many Canadian dollars and cents per Renminbi Yuan. In most of the world money centers, exchange rates are quoted in terms of the national currency of the home country. For example, in New York, any other free convertible currency可自由兑换货币, no matter what it is, must be quoted in U.S. dollars. In exchange markets of world money centers, the