金融英语技能训练Lecture 5 Foreign exchange market.pdfVIP

Lecture 5 Foreign Exchange Market 外汇市场 Learning Objectives  Expand lecture-topic-related vocabulary  Take effective notes on the lecture  Retell information from notes  Accomplish listening tasks  Write an effective lecture summary  Expand reading into lecture topic  Translate an article into Chinese  Discuss topics related to forex market Stage 1 Dictation 1. rupee 2. ruble 3. real 4. reserve assets 5. benchmark rate 6. appreciation 7. revaluation 8. depreciation 9. devaluation 10.conversely 11.fixed peg arrangement 12.boost 13.over-the-counter (OTC) 14.Sophisticated 15.hedge fund 16.retail forex broker 17.Bahrain 18.Bank for International Settlements (BIS) 19.Union Bank of Switzerland (UBS) 20. Royal Bank of Scotland (RBS) Stage 2 Listening Comprehension 1. What does foreign exchange mean? 2. What are the basic types of exchange rate described in the lecture? 3. What is direct quote? What is indirect quote? 4. Why does a government intend to hold low the international value of its own currency? 5. What is unique about the foreign exchange market? 6. In how many countries is foreign exchange trading concentrated? Answers to Listening Comprehension 1. Foreign exchange is defined as the act of exchanging one currency for another currency. It may also refer to the holdings of foreign currencies. 2. 1) The spot exchange rate, also known as “benchmark rate”, “outright rate” or “straightforward rate”, is the price for “immediate” exchange of one currency for another currency. 2) The forward exchange rate refers to the price that is agreed upon today for an exchange of currencies that will take place at a specified time in the future.