華爾街的賺錢(qián)經(jīng) 第2期:走近外匯市場(chǎng)

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Foreign Exchange Market

走近外匯市場(chǎng)

Foreign Exchange dealings take place on the Foreign Exchange market, they may be subject to Exchange Control.

在外匯市場(chǎng)上進(jìn)行外匯交易，可能會(huì)受到外匯管制。

The Foreign Exchange market consists of the exchange dealers of the banks and the exchange brokers. It is made up of two sections: the spot market for spot transactions, and the forward market for forward transactions.

外匯市場(chǎng)由銀行的外匯交易員和經(jīng)紀(jì)人組成，分為兩大部分：即期交易市場(chǎng)和遠(yuǎn)期交易市場(chǎng)。

Spot transactions are foreign exchange transactions that have to be settled promptly, forward transactions have to be settled on an agreed future date. The price of one currency in terms of another is called the rate of exchange or exchange rate.

即期交易是指必須立刻進(jìn)行交割的外匯交易;遠(yuǎn)期交易必須在雙方約定的將來(lái)某個(gè)日期進(jìn)行交割。一種貨幣的價(jià)格用另一種貨幣來(lái)表示，叫做匯率。

There are different rates for the different exchange instruments, The rates at which the banks sell foreign exchange (selling rates) are higher than the rates at which they buy (buying rates). Spot transactions are concluded at the spot rate and forward transactions at the forward rate.

不同的信用工具有不同的匯率，即電匯匯率。即期交易按即期匯率交割，遠(yuǎn)期交易按遠(yuǎn)期匯率交割。遠(yuǎn)期匯率可能會(huì)高于、低于或等于銀行賣出外匯(賣出匯率)要比買(mǎi)入外匯(買(mǎi)入?yún)R率)的價(jià)格要高。

The forward rate may be higher or lower than, or on the same level as, the spot rate. If the forward rate is above the spot rate, the difference is called the premium, if the forward rate is below the spot rate, the difference is known as a discount. If the forward rate is on the same level as the spot rate, they are known as at par.

如果遠(yuǎn)期匯率高于即期匯率，其差額叫做升水，如果遠(yuǎn)期匯率低于即期匯率，其差額叫做貼水。如果遠(yuǎn)期匯率等于即期匯率，叫做平價(jià)。