金融英語泛讀:走近外匯市場

Foreign Exchange Market走近外匯市場

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

在外匯市場上進行外匯交易，可能會受到外匯管制。外匯市場由銀行的外匯交易員和經(jīng)紀人組成，分為兩大部分：現(xiàn)貨交易市場和期貨交易市場?，F(xiàn)貨交易是指必須立刻進行交割的外匯交易；期貨交易必須在雙方約定的將來某個日期進行交割。一種貨幣的價格用另一種貨幣來表示，叫作匯率。不同的信用工具有不同的匯率，即電匯匯率。

現(xiàn)貨交易按即期匯率交割，期貨交易按遠期匯率交割。期貨匯率可能會高于、低于或等于即期匯率。如果期貨匯率高于現(xiàn)貨匯率，其差額叫作升水；如果期貨匯率低于現(xiàn)貨匯率，其差額叫作貼水。如果期貨匯率等于現(xiàn)貨匯率，叫作平價。

實戰(zhàn)提升

核心單詞

exchange[iks't?eind?]v.交換；調(diào)換；兌換，匯兌

broker['br?uk?]n.經(jīng)紀人

transaction[tr?n'z?k??n]n.交易；業(yè)務；買賣

rate[reit]n.比例，率；比率

財經(jīng)知識一點通

現(xiàn)貨交易（spot transaction）

指買賣雙方以實物交割為目的的商品交易方式。按其交割時間不同，可分為即期現(xiàn)貨交易和遠期現(xiàn)貨交易。即期現(xiàn)貨交易是現(xiàn)買現(xiàn)賣，錢貨兩訖，即由擁有商品準備立即出售的賣方和擁有貨幣且想立即得到商品的買方直接見面，即時成交。

升水（premium）

金銀幣在銷售時，其本金本銀部分是按國際價格來確定的，而加工費和利潤部分稱為升水。升水是指期貨匯率高于現(xiàn)貨匯率，與貼水對應。在通常情況下，銀行報出的升貼水數(shù)只報兩位或三位數(shù)。升貼水數(shù)的大小、兩個數(shù)的排列次序也按升水或貼水而不同。在直接標價法下，小數(shù)在前，大數(shù)在后，即為升水；在間接標價法下，若是小數(shù)在后，大數(shù)在前，即為升水。

翻譯練習

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

lt is made up of two sections:the spot market for spot transactions, and the forward market for forward transactions.

The forward rate may be higher or lower than, or on the same level as, the spot rate.