评论
打印
New Words
新单词
global adj.
全球的
understandable adj.
可理解的
fluctuate v.
波动
dictate v.
支配
intervention n.
干预
impose v.
把．．．加强
factor n.
因素
isolate v.
分离，隔离
Phrases & Expressions
短语
in terms of
根据，按照
balance of payment
国际收支差额
purchasing power
购买力
spot rate
即期汇率，现货汇率
forward rate
期货汇率
Z:Good evening, Mr. Steward.
张：晚上好，斯特沃德先生。
S:Good evening, Zhang Jun. Come in please. Would you like some coffee or tea?
斯：晚上好，张军，请进。喝咖啡还是茶？
Z:Anything will do.
张：什么都行。
S:Have some tea, please.
斯：那么就来点茶吧！
Z:Thank you.
张：多谢！
S:You said on the phone yesterday that you had some questions about foreign exchange dealing.
斯：昨天的电话里你说要问问有关外币兑换交易方面的问题。
Z:Yes. With the growth of global trade, Chinese companies need foreign currencies for international transactions.
张：是的。随着全球贸易的不断发展，中国的企业也需要用外汇来支付外商。
So, I'd like to learn more about this topic.
我想多了解一些这方面的情况。
S:That's understandable since you are a foreign trade student.
斯:当然了，因为你学的专业就是外贸。
Z:I understand that exchange rate is the value of one unit of a foreign currency expressed in another currency.
张：我知道汇率是指一单位以另一国货来表示的价格。
But how are foreign exchange rates determined?
但是这些汇率是由什么决定的呢？
S:The price of one currency in terms of another is called the exchange rate.
斯：一国货币另一国货币表示的价格称为汇率。
This rate fluctuates according to the dictates of supply and demand,
汇率随供求关系而上下波动，
within the limitations imposed by national and international monetary authorities.
在国际及内国内金融机构所限定的范围内。
Z:Well, do central bank interventions and exchange controls affect rates of exchange?
张：那么，中央银行对外汇交易的干预及控制对汇率是否产生影响呢？
S:Yes, of course. But there are still other factors which affect the rates of exchange - balance of payments,
斯：当然。但影响汇率的升降还有其它因素，
rates of domestic inflation and the relative purchasing power of currencies,
例如国际收支，通货膨胀率，货币相对购买力
international interests, rate differentials and other factors.
国际利率，利率差等等因素。
Z:Are these factors, which create a demand or lack of demand, for a particular currency easy to identify or isolate?
张：对某一特定货币来说，影响其供求大小的因素是否很容易单独挑选出来？
S:No. Very difficult. These factors always work together to affect the rates of exchange.
斯：不，这是非常难的。这些因素总是混在一起对汇率产生影响的。
Z:Mr. Steward, what is spot rate?
张：斯特沃德先生，什么叫即期汇率？
S:Currencies can be bought or sold in foreign exchange market either for immediate delivery or for delivery later.
斯：在外汇交易市场上，货币的买进，卖出，既可以作既期交易，也可作期货交易。
So spot rate is for immediate delivery and forward rate is for delivery later.
所以即期汇率就是在即期交易时的汇率，而后者就是在期货交易时的汇率。
Z:Does the forward market help?
张：那么期货交易市场有何好处？
S:Yes, the forward market is very useful for companies of foreign trade.
张：那么期货交易市场有何好处？
S: For example, if a company knows that it will need a particular foreign currency to pay a bill in a month's time,
斯：例如，某公司知道将在一个月以后需要用某一种货币支付一份帐单，
a forward deal enables it to protect itself.
那么采用外汇期货交易，公司就能避免某些风险。
Z:How?
张：嗯？
S:The rate of exchange of a particular foreign currency is changing all the time because of the factors I have just mentioned.
斯：我前面提到过，有好几种因素对汇率升降产生影响。因此，某一特定货币的汇率一直在波动着。
Future adverse movements in the exchange rate would have otherwise had the effect of making the foreign goods more expensive.
若非如此，期货汇率的升降就有可能使到时所购买的外国货物价格上升。
Z:Oh, I see. Now, I have a clearer picture of foreign exchange. Thank you very much.
张：噢，我懂了。现在我对外汇兑换交易有了较清楚的认识了。非常感谢您。
S:You are welcome any time.
斯：别客气，随时欢迎你来。
Z:It is quite late. I'd better leave now. Thank you again, Mr. Steward. Good night.
张：时间不早了。我得走了，再次感谢您，斯特沃德先生，晚安。
S:Good night.
斯：晚安。
