-
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 Devisenlage
Devisenlage f WIWI forex position (ZB)* * *f <Vw> ZB forex position* * *Devisenlage, schwierige
exchange difficulties;
• Devisenmakler exchange broker (dealer);
• Devisenmangel scarcity of currency;
• Devisenmarkt foreign-exchange ([foreign-]currency) market;
• internationaler Devisenmarkt international exchange market;
• Devisenmarktintervention exchange-market intervention;
• Devisennotierung quotation of [foreign-] exchange [rates], foreign-exchange quotation;
• Devisenplafond foreign-exchange limit (ceiling);
• Devisenpolitik foreign-exchange policy;
• Devisenpolster [foreign-]exchange reserve, foreign-exchange cushion;
• Devisenposition foreign-exchange [position] sheet, currency option;
• Devisenpositionen foreign items (US);
• aktive Devisenpositionen exposed net asset position;
• ausländische Devisenquellen non-resident sources;
• Devisenquote exchange allocation;
• Devisenrationierung foreign-exchange rationing;
• Devisenrechnung computation of exchange, exchange calculation;
• Devisenreportgeschäft swap;
• Devisenreserven foreign-exchange (currency, US) reserves;
• Devisenrestriktionen exchange restrictions;
• Devisenrisiko foreign-exchange risk;
• Devisenrückfluss foreign-exchange return;
• Devisenrücklage currency (foreign-exchange) reserve;
• Devisensätze foreign-exchange rates;
• Devisenschieber currency (foreign-exchange) profiteer;
• Devisenschiebung currency racket (manipulation);
• Devisenschmuggel currency smuggling;
• guten Devisenschnitt mitnehmen to capture a nice bonus on foreign exchange. -
3 schwierige
Devisenlage, schwierige
exchange difficulties;
• Devisenmakler exchange broker (dealer);
• Devisenmangel scarcity of currency;
• Devisenmarkt foreign-exchange ([foreign-]currency) market;
• internationaler Devisenmarkt international exchange market;
• Devisenmarktintervention exchange-market intervention;
• Devisennotierung quotation of [foreign-] exchange [rates], foreign-exchange quotation;
• Devisenplafond foreign-exchange limit (ceiling);
• Devisenpolitik foreign-exchange policy;
• Devisenpolster [foreign-]exchange reserve, foreign-exchange cushion;
• Devisenposition foreign-exchange [position] sheet, currency option;
• Devisenpositionen foreign items (US);
• aktive Devisenpositionen exposed net asset position;
• ausländische Devisenquellen non-resident sources;
• Devisenquote exchange allocation;
• Devisenrationierung foreign-exchange rationing;
• Devisenrechnung computation of exchange, exchange calculation;
• Devisenreportgeschäft swap;
• Devisenreserven foreign-exchange (currency, US) reserves;
• Devisenrestriktionen exchange restrictions;
• Devisenrisiko foreign-exchange risk;
• Devisenrückfluss foreign-exchange return;
• Devisenrücklage currency (foreign-exchange) reserve;
• Devisensätze foreign-exchange rates;
• Devisenschieber currency (foreign-exchange) profiteer;
• Devisenschiebung currency racket (manipulation);
• Devisenschmuggel currency smuggling;
• guten Devisenschnitt mitnehmen to capture a nice bonus on foreign exchange. -
4 Valuta
Valuta f 1. BANK currency (Währung); value (Wertstellung); value date (Datum); 2. WIWI medium of exchange* * *f 1. < Bank> Währung currency, Wertstellung value, Datum value date; 2. <Vw> medium of exchange* * *Valuta
(Devisen) foreign exchange, rate of exchange, exchange rate, (Gegenwert) consideration, equivalent, (Hypothek) mortgage money, (Währung) [monetary] standard, [standard] currency, medium of exchange, foreign notes and coins, (Wert) value, (Wertstellung) value (availability, US) date;
• franko Valuta free of payment;
• Valuta kompensiert value compensated;
• deckungsfähige (lombardfähige) Valuta currency eligible to serve as collateral;
• feste Valuta fixed (regular) rate, fixed standard;
• gegenwärtige Valuta present rate;
• sichere Valuta sound (stable) currency;
• tonangebend Valuta dominating currency;
• unbeständige Valuta fluctuating standard;
• unveränderliche Valuta fixed standard;
• veränderliche Valuta uncertain rate;
• Valuta in Gold value in gold;
• Valuta für einen Wechsel anschaffen to give consideration for a bill;
• in Valuta zahlen to pay in foreign currency;
• für Valuta zahlen to pay for value received;
• Valutaabschluss currency transaction;
• Valutaakzept [foreign] currency bill;
• Valutaänderung currency change-over;
• Valutaanleihen currency bonds (US);
• Valutabescheinigung estoppel certificate;
• Valutabestände currency holdings;
• Valutabonds currency bonds;
• Valutadumping currency (foreign-exchange) dumping;
• Valutaentwertung currency depreciation, devaluation;
• Valutaexportzuteilung currency-export allowance;
• Valutaforderung [foreign-]currency claim;
• Valutageschäfte currency transactions;
• Valutagewinn foreign-exchange earnings, exchange profit, currency gain;
• Valutaguthaben currency assets, [foreign] currency balance, (Bilanz) balances with foreign bankers;
• Valutaklausel currency (value-given) clause;
• Valutaknappheit currency shortage;
• Valutakonto [foreign-]currency (exchange) account;
• Valutakredit foreign-currency credit;
• Valutakupon coupon payable in foreign currency;
• Valutakurs rate of exchange, exchange rate;
• Valutamangel currency shortage;
• Valutanotierung quotation of [foreign] exchange [rates];
• Valutaobligationen currency bonds;
• Valutapapiere foreign-currency securities;
• Valutapolitik currency policy;
• Valutaquittung value received;
• Valutaregulierung currency regulation;
• Valutarisiko exchange risk;
• Valutaschuld currency claim. -
5 interest rate parity theory
Fina method of predicting foreign exchange rates based on the hypothesis that the difference between the interest rates in two countries should offset the difference between the spot rates and the forward foreign exchange rates over the same periodThe ultimate business dictionary > interest rate parity theory
-
6 Kursnotierung
Kursnotierung f 1. BÖRSE quoted price, share quotation; 2. WIWI foreign exchange table, quoted price* * *f 1. < Börse> quoted price, share quotation; 2. <Vw> foreign exchange table, quoted price* * *Kursnotierung
(Börse) prices quoted, price quotation, marking (Br.), (Devisen) quotation of [foreign-exchange] rates, exchange quotation (list), direct exchange;
• erste Kursnotierung first board (US);
• laufende Kursnotierungen consecutively quoted prices;
• letzte Kursnotierungen latest (going-to-press) prices, latest quotations from the stock exchange;
• offizielle Kursnotierung official quotation;
• uneinheitliche Kursnotierung split quotation;
• verbindliche Kursnotierung firm quotation;
• Kursnotierung einschließlich Dividende cum dividend quotation;
• Kursnotierung von Freiverkehrswerten over-the-counter (US) (unofficial, Br.) quotation;
• Kursnotierungen für Industriewerte industrial share prices;
• Kursnotierung ohne Zinsberücksichtigung flat quotation (US);
• Kursnotierung aussetzen to suspend (stop) the quotation. -
7 Wechselturbulenzen
Wechselturbulenzen
exchange rate turbulence;
• Wechselüberwachung exchange-rate surveillance;
• Wechselveränderungen changes in exchange rates;
• gemeinsamer Wechselverbund floating block;
• Wechselvereinbarung exchange-rate arrangement;
• Wechselvergleich compound arbitration of exchange;
• Wechselzettel list of exchange, record of foreign exchange rates (US), course of exchange (Br.). -
8 валютные курсы
-
9 waluta
* * *f.1. ( pieniądze) currency; koszyk walut basket of currencies; wymiana walut foreign exchange; kursy wymiany walut foreign exchange rates.2. ( system pieniężny) currency; twarda/miękka waluta hard/soft currency; waluta wymienialna convertible currency; waluta złota/papierowa gold/paper currency.3. pot. (= pieniądze zagraniczne) foreign money.4. pot. (= gotówka) cash, green.The New English-Polish, Polish-English Kościuszko foundation dictionary > waluta
-
10 изменения валютных курсов
Currency operations: changes in foreign exchange rates (англ. оборот взят из IAS 21. The effects of changes in foreign exchange rates)Универсальный русско-английский словарь > изменения валютных курсов
-
11 изменения курсов валют
Универсальный русско-английский словарь > изменения курсов валют
-
12 Devisennotierung
-
13 операция в иностранной валюте
1) Finances: transaction in a foreign currency (англ. оборот взят из IAS 21. The Effects of Changes in Foreign Exchange Rates)2) Currency operations: foreign exchange transaction3) SAP.fin. foreign currency transactionУниверсальный русско-английский словарь > операция в иностранной валюте
-
14 установленные курсы валют
Универсальный русско-английский словарь > установленные курсы валют
-
15 фиксированные валютные курсы
Универсальный русско-английский словарь > фиксированные валютные курсы
-
16 фиксированные курсы валют
Универсальный русско-английский словарь > фиксированные курсы валют
-
17 Wechselnehmer
Wechselnehmer
taker (payer) of a bill, payee;
• Wechselnotierungen foreign-exchange rates;
• Wechselobligationen convertible bonds;
• Wechselobligo discount ledger, bill diary, (Bilanz) discounts outstanding (Br.), bills payable (US);
• Wechselobligo aus Akzeptverbindlichkeiten der Kundschaft customers’ liabilities on account of acceptances;
• Wechselobligobuch bill book (diary), discount (bill discounted, US, liability) ledger;
• Wechselordnung Bills of Exchange Act (Br.), [etwa] Uniform Negotiable Instrument Act (US);
• Wechselparität parity of exchange;
• feste Wechselparität mint par of exchange, comparative bullion content (Br.);
• Wechselpensionsgeschäft pledging of bills;
• Wechselportefeuille portfolio of bills, bills in hand, billholdings, bill case (Br.);
• Wechselprima first [of exchange];
• Wechselprolongation renewal (prolongation) of a bill of exchange, extension of note. -
18 Devisennotierung
Devisennotierung
quotation of [foreign-] exchange [rates], foreign-exchange quotation -
19 Wechselzettel
-
20 денежные потоки от операций в иностранной валюте
Универсальный русско-английский словарь > денежные потоки от операций в иностранной валюте
См. также в других словарях:
Foreign-exchange reserves — Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange rate Managed float regime Markets Foreign exchange market Futures… … Wikipedia
Foreign exchange reserves — (also called Forex reserves) in a strict sense are only the foreign currency deposits held by central banks and monetary authorities. However, the term in popular usage commonly includes foreign exchange and gold, SDRs and IMF reserve positions.… … Wikipedia
Foreign exchange risk — (exchange rate risk) Risk that the market value of the bank, measured in the base currency, is exposed to fluctuations in foreign exchange rates. This risk is quantified by the open currency position. The related standard reports are: • Open… … International financial encyclopaedia
Foreign Exchange Dealers Coalition (FXDC) — The Foreign Exchange Dealers Coalition (FXDC) is an alliance of the largest U.S. foreign exchange market dealers. The FXDC partnership was formed in the fall of 2007 to pool together industry resources to demonstrate the viability of the forex… … Wikipedia
foreign exchange risk — One of nine risks defined by the OCC. The risk to earnings or capital arising from adverse movement of foreign exchange rates. The Federal Reserve includes this risk in its definition of market risk. American Banker Glossary The risk that a long… … Financial and business terms
Foreign exchange closing rates — The foreign exchange rates at the close of trading … International financial encyclopaedia
Foreign-exchange option — Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange rate Managed float regime Markets Foreign exchange market Futures… … Wikipedia
Foreign exchange controls — Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange rate Managed float regime Markets Foreign exchange market Futures… … Wikipedia
foreign exchange — foreign ex change n 1.) [U] used to talk about buying and selling foreign money foreign exchange markets/rates/transactions etc ▪ The dollar is expected to fall in the foreign exchange markets. 2.) [U] foreign money, especially money obtained by… … Dictionary of contemporary English
Foreign exchange market — Forex redirects here. For the football club, see FC Forex Braşov. Foreign exchange Exchange rates Currency band Exchange rate Exchange rate regime Exchange rate flexibility Dollarization Fixed exchange rate Floating exchange rate Linked exchange… … Wikipedia
Foreign exchange option — In finance, a foreign exchange option (commonly shortened to just FX option or currency option) is a derivative financial instrument where the owner has the right but not the obligation to exchange money denominated in one currency into another… … Wikipedia