国际金融课件5 外汇汇率和外汇交易.pptVIP

5 外汇汇率与外汇交易（Foreign Exchange Rates and Forex ） §1 Outlined 1.1 Foreign Exchange 1.1.1 The Concept of Foreign Exchange 外汇的概念 The life blood of international trade and investment is foreign exchange, or forex, is foreign money. No foreign transaction is possible without foreign exchange, in some form or another. 外汇是以外国货币表示的，可以用来清偿国际间债权债务的支付手段。 Foreign Exchange is a foreign currency, It can be applied to liquidate the debt claims of international means of payment. 1.1.2 外汇的类型 From the perspective of exchange controls :Freely convertible foreign exchange and foreign exchange accounting （从外汇管制的角度分：自由外汇和记账外汇） From the source of foreign exchange：trade foreign exchange and non-trade foreign exchange （根据外汇的来源分，贸易外汇和非贸易外汇） According to the different sub-holder： official exchange and private exchange（根据持有者的不同分：官方外汇和私人外汇） From the perspective of liquidity： short-term and long-term foreign exchange exchange （从流动性的角度分，短期外汇和长期外汇） According to the delivery period, spot foreign exchange and forward foreign exchange （根据交易合约中的交割期限分，即期外汇和远期外汇） 1.2 Foreign Exchange Rates 汇率 1.2.1 Exchange Rates and Quotations 汇率及其标价方法 Exchange Rates: exchange rate of the different currency. 一种货币用另一种货币表示的价格，例如：1美元等于多少日元，等于多少港元，等等。 Direct and Indirect Quotations Exchange rates can be quoted in two way: (a) Direct Quotations, the number of units of domestic currency for one unit of foreign currency ;or(b) Indirect Quotations ,the number of unis of foreign currency for one unit of domestic currency. Most financial centers use the first method. 1.2.2 The type of exchange rate 汇率的种类 A. Basic Rates and Cross Rates 按汇率制定的不同方法，可分为基本汇率和套算汇率 Basic rate is that a national currency is quoted against the Benchmark currency (Usually is the Key Currency). exempl, The price of any two currencies against the dollar means that the price of one currency for the other can easily be found. The exchange rate between two currencies not involving the dollar is called the cross rate. S