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1 exchange rate risk
Finthe risk of suffering loss on converting another currency to the currency of a company’s own country.EXAMPLEExchange rate risks can be arranged into three primary categories. (1.) Economic exposure: operating costs will rise due to changes in rates and make a product uncompetitive in the world market. Little can be done to reduce this routine business risk that every enterprise must endure. (2.) Translation exposure: the impact of currency exchange rates will reduce a company’s earnings and weaken its balance sheet. To reduce translation exposure, experienced corporate fund managers use a range of techniques known as currency hedging. (3.) Transaction exposure: there will be an unfavorable move in a specific currency between the time when a contract is agreed and the time it is completed, or between the time when a lending or borrowing is initiated and the time the funds are repaid. Transaction exposure can be eased by factoring: transferring title to foreign accounts receivable to a third-party factoring house.Although there is no definitive way of forecasting exchange rates, largely because the world’s economies and financial markets are evolving so rapidly, the relationships between exchange rates, interest rates, and inflation rates can serve as leading indicators of changes in risk. These relationships are as follows. Purchasing Power Parity theory (PPP): while it can be expressed differently, the most common expression links the changes in exchange rates to those in relative price indices in two countries:Rate of change of exchange rate = Difference in inflation ratesInternational Fisher Effect (IFE): this holds that an interest-rate differential will exist only if the exchange rate is expected to change in such a way that the advantage of the higher interest rate is offset by the loss on the foreign exchange transactions. Practically speaking, the IFE implies that while an investor in a low-interest country can convert funds into the currency of a high-interest country and earn a higher rate, the gain (the interest rate differential) will be offset by the expected loss due to foreign exchange rate changes. The relationship is stated as:Expected rate of change of the exchange rate = Interest-rate differentialUnbiased Forward Rate Theory: this holds that the forward exchange rate is the best unbiased estimate of the expected future spot exchange rate.Expected exchange rate = Forward exchange rate -
2 devizni prilivi
• foreign exchange earnings -
3 валютная выручка
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4 выручка валютная
foreign exchange earnings -
5 поступления валютные
foreign exchange earnings -
6 utu whakawhiti tauiwi
foreign exchange earnings -
7 валютные поступления
Русско-английский синонимический словарь > валютные поступления
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8 utu whakawhiti tauiwi
foreign exchange earnings -
9 инвалютное поступление
доход; прибыль; заработок; поступления — earning earnings
Русско-английский большой базовый словарь > инвалютное поступление
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10 поступления иностранной валюты
валютные операции, операции в валюте — exchange transactions
Русско-английский большой базовый словарь > поступления иностранной валюты
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11 выравнивание валюты
валютные операции, операции в валюте — exchange transactions
Русско-английский большой базовый словарь > выравнивание валюты
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12 заказ на валюту
валютные операции, операции в валюте — exchange transactions
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13 курс валют
валютные операции, операции в валюте — exchange transactions
Бизнес, юриспруденция. Русско-английский словарь > курс валют
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14 сделка с иностранной валютой
валютные операции, операции в валюте — exchange transactions
Бизнес, юриспруденция. Русско-английский словарь > сделка с иностранной валютой
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15 валютный доход
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16 валютная выручка
Бизнес, юриспруденция. Русско-английский словарь > валютная выручка
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17 devizni prihodi
• foreign exchange earnings; foreign proceeds -
18 валютный доход
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19 Devisenbringer
Devisenbringer
foreign-exchange earner;
• Devisendruck foreign-exchange squeeze;
• Deviseneigenschaft nach dem Wohnsitz festlegen to determine s. one’s residence for exchange-control purposes;
• Deviseneinbringer earners of foreign exchange;
• Deviseneinfuhrkosten foreign-exchange cost of import;
• Deviseneinkünfte foreign-exchange earnings, proceeds in foreign currency;
• Deviseneinnahmen foreign-exchange proceeds, foreign earnings;
• Deviseneinnahmen aus Hartwährungsländern hard-currency earnings (income);
• Deviseneinzelkurs single-exchange rate;
• Devisenengagements foreign-exchange commitments;
• Devisenerfordernisse foreign-exchange requirements;
• Devisenerklärung currency declaration;
• Devisenerleichterungen exchange facilities;
• Devisenerlöse, Devisenerträge foreign-exchange proceeds (earnings);
• Devisenerwerb purchase of foreign currency;
• Devisenflüsse foreign-exchange accruals;
• Devisenforderung foreign-currency claim;
• Devisenformular currency form;
• Devisenfreibetrag foreign-exchange allowance;
• Devisenfreibetrag für Auslandsreisen (Ferienreisen) travel allowance (Br.);
• Devisengebühren exchange fees;
• Devisengenehmigung foreign-exchange permit, [foreign-]exchange authorization, treasury licence, exchange-control approval. -
20 валюта валют·а
эк.обесценивать валюту — to depreciate / to devalue the currency
обменивать валюту на золото — to redeem (the) currency in gold
иностранная валюта — foreign currency, (foreign) exchange
получать / приобретать иностранную валюту — to secure foreign currency
недостаток иностранной валюты — foreign exchange gap / stringency
поступления иностранной валюты — (foreign) exchange earnings
клиринговая валюта, валюта клиринга — agreement / clearing currency
ключевая валюта — key / vehicle currency
конвертируемая — (обратимая, твёрдая) валюта convertible / hard currency
свободно конвертируемая валюта — freely convertible currency / exchange
локальная / местная валюта, валюта данной страны — domestic / home / local currency
"мягкая" валюта — soft currency
конвертировать переводные рубли в национальную валюту — to convert / to transfer roubles into national currency
неконвертируемая / необратимая валюта — inconvertibie / nonconvertible / soft currency
"плавающая" валюта — floating currency
верхний допустимый предел взаимного отклонения курсов совместно плавающих (европейских) валют — joint float ceiling
резервная валюта (выполняющая роль международного расчётного и резервного средства) — reserve currency
валюта, курс которой "привязан" к валюте другой страны — pegged currency
валюта, на которой базируется валютная оговорка — reference currency
валюта, полученная от продажи нефти — petro- / petroleum currency
валюта, "привязанная" к доллару — currency pegged to dollar
единица валюты — unit of currency, monetary unit
запасы / резервы валюты — currency reserves
курс валюты — rate of exchange, exchange rate
прекратить операции по обмену валют — to close foreign exchange / currency markets
паритет валюты — par / parity of exchange
перевод / пересчёт валюты — conversion of currency
покупательная сила / покупательная способность валюты — purchasing power of' currency
согласованное колебание / "плавание" валют — concerted float
товары, являющиеся источником поступления твёрдой валюты — currency earning commodities
См. также в других словарях:
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