3外汇和汇率

• The rate of a country's currency be converted into another country currency, that is the price of the currency of another country
• 谈到价格比较就离不开汇率，因为中国货是 用人民币标价的，而美国货是用美元标价的， 没有汇率的话，二者无法进行比较，这里就 产生汇率如何规定的问题。很遗憾地，现在
Chapter 3. Foreign Exchange & Exchange Rate
形态：1. 钞票；2.有价证券；3.外币表示 的支付凭证（汇票、存单等）；Form: 1. Banknotes; 2. Securities; 3. Expressed in foreign currency payment instruments (money orders, certificates of deposit, etc.); 4.其他（可以转换成外汇的对外要求权）。 Other (can be converted into foreign currency foreign claims).
Байду номын сангаас
Review of Marxist’
• 货币是充当一般等价物的一种特
殊商品。
• 货币的职能：(1)价值尺度；(2)流通 手段；(3)贮藏手段；(4)支付手段； (5)世界货币。
Variety of FE
• 三、 The types of foreign exchange:
• (1) sources and uses: trade / non-trade • (2) free convertibility: free / accounting (3) the sale of delivery period: Spot / Forward • 四、The role of foreign exchange:
中国绝大多数的外贸教科书上对汇率的 解说是含混不清的，一般都说汇率是两 种货币购买力的比。然而，以人民币和美
元购买力来讲，二者的比取决于买什么东西。 如果买旅游鞋，大概是四元人民币合一美元， 但是如果买汽车，大概是十五元人民币合一 美元，这不叫人糊涂吗？其实，正因为两种 货币购买力之比是变化的，它取决于买什么 商品，这才有外贸。
The Adapted Speech from VIP-2
• 如果不论买什么东西购买力的比都相同的话， 就不会有任何贸易。如果汇率发生变化，价格 比较跟著会变，比较优势也就会发生变化。比 如说，如果中国增加了许多粮食或石油进口， 外汇入不敷出的话，人民币将贬值，有些原来 不值得出口的商品，现在变得可以出口了。这 说明比较优势随著宏观的外贸形势而变，并不
仅仅取决于商品生产本身的成本。至于 汇率如何决定，就不在本文中讨论了。
The Adapted Speech from VIP-2
• Regardless of what they would buy if the purchasing power than are the same, then there would be any trade. If the exchange rate changes, along with price comparisons will become, comparative advantage will change. For example, if China has increased a lot of food or oil imports, foreign exchange deficits if the yuan will be devalued, and some had not worthy of export goods can be exported has now become. This shows that the comparative advantage of foreign trade with the macroeconomic situation, which changed, not only depend on the cost of commodity production itself. As to how to decide the exchange rate, is not discussed in this article.
Chapter 3. Foreign Exchange & Exchange Rate 第三章 外汇与汇率
一 、外汇(Foreign Exchange)
Dynamic(动态): 国际汇兑行为。 （International exchange behavior） Static（静态）: 以外币表示的用于国际结算支 付手段和资产。 That is used in international settlement and asset In foreign currency expressed
四、外汇的作用
2．通过国际汇兑可以实现购买力的国际转移， 使国与国之间货币流通成为可能。 3．促进国际贸易的发展。用外汇进行结算既 节省运输的费用，又可以避免风险。 4．有利于发挥调节国际间资金余额调剂的作用。
1．作为国际结算的支付工具，有利于国际结算。
5．外汇作为国际储备，起着平衡国际收支的 作用。
二、汇率标价法Exchange quotation
• 1.直接标价法Direct Quotation ： • 以一定单位外国货币为基准，折算成一定数量 的本国货币。一单位外国货币=若干本国货币。 • A certain unit of foreign currency as the base, converted into a number of national currency. • One unit of foreign currency = number of national currency • US$ 1 = RMB 6.820 • JP¥100 = RMB 7.5487 • HK$ 100 = RMB 87.562 • 世界上绝大多数国家，中国使用。
Variety of FE
• 三、 外汇的种类： • （一）来源和用途：贸易/非贸易 • （二）自由兑换性：自由/记帐 （三）买卖交割期：即期/远期
四、The role of foreign exchange（1）
1. As an international settlement payment is conducive to international settlement. •2. Can be achieved through international exchange of the international transfer of purchasing power, so that money flows between countries possible. •3. Promotion of international trade. With the exchange for clearing both the savings in transport costs, and also avoid the risk.
Characteristics of FE
• 1. 2. 3. 二 、外汇的特征： 以外币表示，可用于对外支付的金融资产。 物资偿付保证，各国普遍接受。 充分的可兑换性(Convertibility)。 (1) Convertible;经常项目没有任何限制； 资本项目也比较宽松。 (2) Restricted Convertible;在经常项目 上对居民有限制，对非居民无限制。资本 项目原则上管制。 (3) Non-convertible; 对经常项目和资本项目 都管制。
•
四、The role of foreign exchange（2）
•4. Is conducive to the international community to play a regulating role of the fund balance transfers. •5. As an international foreign exchange reserves, balance of international payments play a role. •6. Circulation costs savings to make up for lack of means of circulation.
• Turning to the price comparison would be inseparable from the exchange rate, because China is the renminbidenominated goods, while the U.S. is U.S. dollardenominated goods, without the exchange rate, then the two could not be compared, there arises the question how to provide for the exchange rate. Regrettably, the vast majority of China's foreign trade is now a textbook explanation of the exchange rate is vague, general assertions that the exchange rate is the ratio of the purchasing power of the two currencies. However, with the purchasing power of the RMB and U.S. dollar terms, the ratio between the two depends on what they would buy. If you buy sneakers, about four yuan-one U.S. dollars, but if you buy a car, about 15 yuan in-one U.S. dollars, this is not confusing Jiaoren do? • In fact, precisely because the two currencies is the change in the ratio of purchasing power, it depends on what to buy goods Only then will foreign trade.