首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
The forward market also provides facilities for forward currency transactions. This is a means of enabling the importer or expor
The forward market also provides facilities for forward currency transactions. This is a means of enabling the importer or expor
admin
2012-01-26
29
问题
The forward market also provides facilities for forward currency transactions. This is a means of enabling the importer or exporter to agree a rate of exchange, now, at which a foreign currency will be exchanged for sterling at a future date, usually one, two, three or six months ahead but sometimes one or two years. This rate is fixed regardless of what might have happened to the rate of exchange in the meantime and is particularly useful in an era of floating, and potentially volatile, exchange rates. If, for example, a British importer of US machines which cost $ 3,000 each has to pay in one month’s time he may prefer to buy the currency now for actual delivery in one month’s time. With a current rate of $2.00 to the 1 pound the one month rate may be at a two cent premium ($1.98) or 2 cents dearer than the spot rate. These purchases will therefore cost the importer an additional £ 15 but at least he knows exactly how much it will cost him whatever happens to exchange rates. If the pound had been devalued or floating down during the month the cost could have horn a lot more than £ 15.
Theoretically there are two alternatives to buying forward:
1) To buy $3,000 now at the spot rate, pay interest on any loan to pay for the purchase and invest the dollars for one month.
2) Pay the spot rate in one month’s time whatever the rate might be.
The facility to buy or sell a currency forward, therefore, enables the importer to fix a definite price which will not be affected by fluctuations in exchange rates.
Forward exchange markets were temporarily disrupted in 1974 by the collapse of a West German bank which failed to meet its foreign currency obligations. As the foreign exchange markets depend so much on confidence, this collapse led to a temporary contraction in the forward market. However, it has now regained much of the ground lost, indeed in an era of floating rates the forward market is of even more importance to traders in insuring themselves against loss through exchange rate fluctuations.
Why would the British buyer in the example prefer to pay the additional £ 15?
选项
A、He can use the $ 3,000 for investment for one month.
B、He can be insured against loss through pound sterling devaluation or floating down during the month.
C、Because the rate of these purchases is fixed whatever happens to exchange rates in the meantime.
D、Both B and C.
答案
D
解析
第一段倒数第二句…but at least he knows exactly how much it will cost him whatever happens to exchange rates,意思是说尽管该进口商额外花了£15,但至少他通过远期交易把进口成本给固定下来了,而不用管汇率如何变动。接下来一句If the pound had been devalued or floating down during the month the cost could have been a lot more than £15,是指如果在未来一个月期间英镑贬值,他的损失将远远超过£15。
转载请注明原文地址:https://kaotiyun.com/show/xdYd777K
本试题收录于:
FECT综合(现代金融业务)题库金融英语(FECT)分类
0
FECT综合(现代金融业务)
金融英语(FECT)
相关试题推荐
[A]cheek[B]dollar[C]menu[D]station[E]market[F]library[G]hospitalPeoplegetonandoffabusortrainthere.
[A]cheek[B]dollar[C]menu[D]station[E]market[F]library[G]hospitalPeoplereadandborrowbooksthere.
[A]cheek[B]dollar[C]menu[D]station[E]market[F]library[G]hospitalPeoplebuyandsellthingsthere.
A、Thesupermarketistoocrowded.B、Therearemanysupermarketshere.C、Look,justoverthere.C
A、Thesupermarketisnearhere.B、Youcangoanotherday.C、Youcanasksomebodyforhelp.C
Abusinessmanboughtsomegoodsatamarketinthemorningandsetoutatonceforhomewithallhisbags,forhewishedtobei
随机试题
关于周围性眩晕错误的是()
对老人用药应慎重,在解释慎重用药的原因中哪项描述有错:
对诊断门脉高压症最有价值的是
按照规定开支范围对施工费用进行归集,计算出施工费用的实际发生额,并根据成本核算对象,采用适当的方法,计算出该施工项目的总成本和单位成本的过程称为()。
该房地产公司申请领取施工许可证的时间最迟应当在()。如果房地产开发公司于2007年5月20El领到施工许可证,根据有关规定,该工程最迟应当于()前开工。
专利侵权行为包括()。
市场占有率指标是企业市场营销战略的核心。()
一、注意事项本题本由给定资料与申论要求两部分构成。二、给定资料1.近些年来,我国食品安全方面问题不断,苏丹红、瘦肉精、三鹿奶粉等大事件,使国内外的舆论哗然,百姓生活和切身利益都受到严重的影响。纵观近年食品安全,有一个使人大跌眼镜的事实
A、武则天寿命很长B、武则天晚年很孤独C、武则天非常宠爱女儿D、武则天从小就当了皇帝A
Everyonehassomethingtheyareashamedof,afraidoforthattheyfeelguiltyabout.Eachofus,inourownway,hasdeviseda
最新回复
(
0
)