国际商务定义英文版要点

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1、●Theforeignexchangemarketisamarketforconvertingthecurrencyofonecountryintothatofanothercountry.●Theexchangerateistherateatwhichonecurrencyisconvertedintoanother.●Twomainfunctionsoftheforeignexchangemarket:1、isusedtoconvertthecurrencyofonecountryintothecurrencyofanother2、providesomeinsuranceagainst

2、foreignexchangerisk(theadverseconsequencesofunpredictablechangesinexchangerates)●SpotExchangeRate即期汇率:Therateatwhichaforeignexchangedealerconvertsonecurrencyintoanothercurrencyonaparticularday.●ForwardExchangeRate远期汇率:Twopartiesagreetoexchangecurrencyandexecutethedealatsomespecificdateinthefuture.

3、●CurrencySwap掉期（货币互换）:Thesimultaneouspurchaseandsaleofagivenamountofforeignexchangefortwodifferentvaluedates.●internationalmonetarysystem:Referstotheinstitutionalarrangementsthatgovernexchangerates.●currencyspeculation：theshort-termmovementoffundsfromonecurrencytoanotherinthehopesofprofitingfromsh

4、iftsinexchangerates●Afloatingexchangeratesystem浮动汇率existswhenacountryallowstheforeignexchangemarkettodeterminetherelativevalueofacurrency.●Apeggedexchangeratesystem钉住汇率existswhenacountryfixesthevalueofitscurrencyrelativetoareferencecurrency.●Adirtyfloat管理浮动existswhenacountrytriestoholdthevalueofit

5、scurrencywithinsomerangeofareferencecurrencysuchastheU.S.dollar.●Afixedexchangeratesystem固定汇率existswhencountriesfixtheircurrenciesagainsteachotheratsomemutuallyagreedonexchangerate.●Investorsincludecorporationswithsurpluscash,individuals,andnon-bankfinancialinstitutions.●Borrowersincludeindividual

6、s,companies,andgovernments.●Marketsmakersarethefinancialservicecompaniesthatconnectinvestorsandborrowers,eitherdirectlyorindirectly.●Capitalmarketloanscanbeequity(stock)ordebt(cashloansorbonds).Equity(stock)Loans股权融资Anequityloanismadewhenacorporationsellsstocktoinvestors.(dividends,stockprice)Debt

7、(cashloansorbonds)Loans债券融资Adebtloanrequiresthecorporationtorepayapredeterminedportionoftheloanamount(thesumoftheprincipalplusthespecifiedinterest)atregularintervalsregardlessofhowmuchprofititismaking.●AEurocurre