Unit 2 foreign exchange 财经英语课程资料.docxVIP

Unit 2 Foreign exchange, exchange rate and foreign exchange market 1. Foreign Exchange 外汇 In narrow sense狭义: Any currency货币 other than the local currency which is used in settling（支付，结算） international transactions国际交易. 2. Exchange rate 汇率 It is the price of one country’s currency for another’s. Law of one price(LOP)一价定律：a commodity will cost the same regardless of the country in which it is purchased. 3. Foreign exchange market 外汇市场 Participants 参与者in the foreign exchange market include: 1. central banks 2. banks 3. importers and exporters 4. foreign exchange brokers经纪人 who match buy and sell orders 5. traders 交易员who make the market in foreign exchange 4. Elements influencing exchange rates 影响汇率的因素 （1）. economic factors 1.1 economic policy comprises government fiscal policy(budget/spending practices) and monetary policy(the means by which a government’s central bank influences the supply and cost of money, which is reflected by the level of interest rates) 绿色内容不需要编入对话，但要默写单词，所以不认识的单词和词组请查英文读音，以及中文意思 1.2 economic conditions 1.2.1 government budget deficits or surpluses 绿色内容 1.2.2 balance of trade levels and trends 1.2.3 inflation levels and trends 1.2.4 economic growth and health 1.2.5 productivity of an economy （2）. political conditions （3）. market psychology 3.1 flights to quality 绿色内容 3.2 long-term trends 3.3 buy the rumor, sell the fact 5. Types of foreign exchange transactions 外汇交易的类型或种类 There are three types of trade in the foreign exchange market. 5.1 spot trade 现汇交易，即期交易 It is an agreement on exchange rate today for settlement in two days. 5.2 forward trade 期货交易，远期交易 It is an agreement on exchange rates today for settlement in the future (usually 1-52 weeks) 5.3 swap trade 掉期交易 It is the sale(purchase) of a foreign currency with a simultaneous同时 agreement to repurchase(resell) it sometime in the future. 第二周作业： 1. 这里出现的所有专业术语都要会读（不会读，务必查字典），会写（以后会默写单词），本周除绿色的内容不要编入对话中，其他必须出现在对话中。 本周各班请两两一组（找不到本班可以找外班同学，实在不行就自己一个人），根据第一单元以及第