金融英语听说课件Unit 7 Foreign Exchange.PPT

Chapter Seven Foreign Exchange I Learning Objectives In this unit students will learn words and expressions relating to Foreign Exchange. Students will learn about Foreign Exchange Market and the history of Foreign Exchange. Students will learn about the current issues relating to Foreign Exchange. Students will be able to argue about the relations between a country’s Foreign Exchange and its market. II Teaching plan This chapter will cover 3 hours. 2 hours for the introduction of background information and explanations of terms and the texts. And the other 1 hour for discussion and practice. III Teaching methods Translation of key sentences Paraphrasing of key words and expressions Explanation of new terms Summarizing of key passages Discussion of important issues Questions and answers: interaction between teachers and students Ⅳ Open Questions What’s the relationship between a country’s exchange rate and its trade position? Since the early 1970s, what determined foreign exchange rates? Can you give specific examples to illustrate the intervention in foreign exchange and why do such interventions exist? How many types of potential users of foreign currency futures are there and what are they? V Background Foreign exchange is the process of trading the currency of one country for the currency of another. Brief History of Foreign Exchange According to Julian Walmsley, although foreign exchange has existed since before biblical times, a formal global market for foreign exchange did not develop until the 1800s with cable transfers taking place between London and New York. Foreign Exchange Markets Market Composition The foreign exchange markets are decentralized and consist of thousands of businesses and governments throughout the world that buy and sell currency. The largest users of the foreign exchange market are commercial banks, which serve as intermediaries between currency buyers and sellers. Corporations and financial institutions also trade currencies, p