foreign exchange rate 金融英语典型实例.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. 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 exchange rates between leading free convertible currencies可自由兑换货币, such as US dollar, Japanese Yen, Pound Sterling英镑 and Euro欧元, are always changeable. When the value of one currency gains ground越来越被人接受 and its rate rises against other currencies, it is called “appreciation”, and, on the contrary正相反, if it loses ground失利 and its rate goes down against others, it is called depreciation. US dollar is the most important international currency recently, in aggregate总数达 about 70% of international trade tra