金融英语泛读:走近外汇市场

Foreign Exchange Market走近外汇市场

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.

在外汇市场上进行外汇交易，可能会受到外汇管制。外汇市场由银行的外汇交易员和经纪人组成，分为两大部分：现货交易市场和期货交易市场。现货交易是指必须立刻进行交割的外汇交易；期货交易必须在双方约定的将来某个日期进行交割。一种货币的价格用另一种货币来表示，叫作汇率。不同的信用工具有不同的汇率，即电汇汇率。

现货交易按即期汇率交割，期货交易按远期汇率交割。期货汇率可能会高于、低于或等于即期汇率。如果期货汇率高于现货汇率，其差额叫作升水；如果期货汇率低于现货汇率，其差额叫作贴水。如果期货汇率等于现货汇率，叫作平价。

实战提升

核心单词

exchange[iks'tʃeindʒ]v.交换；调换；兑换，汇兑

broker['brəukə]n.经纪人

transaction[træn'zækʃən]n.交易；业务；买卖

rate[reit]n.比例，率；比率

财经知识一点通

现货交易（spot transaction）

指买卖双方以实物交割为目的的商品交易方式。按其交割时间不同，可分为即期现货交易和远期现货交易。即期现货交易是现买现卖，钱货两讫，即由拥有商品准备立即出售的卖方和拥有货币且想立即得到商品的买方直接见面，即时成交。

升水（premium）

金银币在销售时，其本金本银部分是按国际价格来确定的，而加工费和利润部分称为升水。升水是指期货汇率高于现货汇率，与贴水对应。在通常情况下，银行报出的升贴水数只报两位或三位数。升贴水数的大小、两个数的排列次序也按升水或贴水而不同。在直接标价法下，小数在前，大数在后，即为升水；在间接标价法下，若是小数在后，大数在前，即为升水。

翻译练习

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.