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1 exchange rate
Finthe rate at which one country’s currency can be exchanged for that of another -
2 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 -
3 Exchange Rate Protection
Stock Exchange: ERPУниверсальный русско-английский словарь > Exchange Rate Protection
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4 Exchange Rate Mechanism
Универсальный русско-английский словарь > Exchange Rate Mechanism
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5 exchange rate agreement
Investment: ERAУниверсальный русско-английский словарь > exchange rate agreement
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6 Exchange Rate Mechanism
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7 exchange rate parities
Finrelationships between the values of various currencies -
8 exchange rate spread
(U.K.) Finthe difference between the price at which a broker or other intermediary buys and sells foreign currency -
9 nominal exchange rate
Finthe exchange rate as specified, without adjustment for transaction costs or differences in purchasing power -
10 real exchange rate
Finan exchange rate that has been adjusted for inflation -
11 spot exchange rate
Finthe exchange rate used for immediate currency transactions -
12 multiple exchange rate
Fina two-tier rate of exchange used in certain countries where the most advantageous rate may be for tourists or for businesses proposing to build a factory -
13 fixed exchange rate system
Fina system of currency exchange in which there is no change of rateThe ultimate business dictionary > fixed exchange rate system
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14 European Exchange Rate Mechanism
Stock Exchange: ERMУниверсальный русско-английский словарь > European Exchange Rate Mechanism
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15 flexible exchange rate system
Fina system of currency exchange in which rates change from time to timeThe ultimate business dictionary > flexible exchange rate system
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16 Equilibrium Exchange Rate
Chemistry: EERУниверсальный русско-английский словарь > Equilibrium Exchange Rate
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17 Ruble Dollar Exchange Rate
Sakhalin energy glossary: RUD (internally accepted within the Shell Group)Универсальный русско-английский словарь > Ruble Dollar Exchange Rate
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18 economic exchange rate
EBRD: EERУниверсальный русско-английский словарь > economic exchange rate
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19 official exchange rate
EBRD: OERУниверсальный русско-английский словарь > official exchange rate
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20 rate of exchange
Fin
См. также в других словарях:
exchange rate — ♦♦♦ exchange rates N COUNT The exchange rate of a country s unit of currency is the amount of another country s currency that you get in exchange for it … English dictionary
exchange rate — n. the rate at which the currency of one country or region can be exchanged for that of another country or region … English World dictionary
exchange rate — exchange′ rate n. ban bus the ratio at which a unit of the currency of one country can be exchanged for that of another country • Etymology: 1895–1900 … From formal English to slang
exchange rate — ► NOUN ▪ the value of one currency for the purpose of conversion to another … English terms dictionary
Exchange rate — 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
Exchange rate — The price of one country s currency expressed in another country s currency. The New York Times Financial Glossary * * * exchange rate exˈchange rate noun [countable] FINANCE the price at which one currency can be bought with another: • If the… … Financial and business terms
exchange rate — The price of one country s currency expressed in another country s currency. Bloomberg Financial Dictionary * * * exchange rate exˈchange rate noun [countable] FINANCE the price at which one currency can be bought with another: • If the yen… … Financial and business terms
exchange rate — the ratio at which a unit of the currency of one country can be exchanged for that of another country. Also called rate of exchange. [1895 1900] * * * Price of one country s money in relation to another s. Exchange rates may be fixed or flexible … Universalium
exchange rate — n. 1) to set an exchange rate 2) to apply an exchange rate * * * to apply an exchange rate to set an exchange rate … Combinatory dictionary
exchange rate — /ɪks tʃeɪndʒ reɪt/ noun 1. a rate at which one currency is exchanged for another. Also called rate of exchange 2. a figure that expresses how much a unit of one country’s currency is worth in terms of the currency of another country ▪▪▪ ‘…can… … Dictionary of banking and finance
exchange rate */ — UK / US noun [countable] Word forms exchange rate : singular exchange rate plural exchange rates the value of the money of one country when you change it into the money of another country … English dictionary