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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 exchange
[ɪksˈtʃeɪndʒ]1. verb1) to give, or give up, in return for something else:يَسْتَبْدِلCan you exchange a dollar note for two 50-cent pieces?
2) to give and receive in return:يُبادِلThey exchanged amused glances.
2. noun1) the giving and taking of one thing for another:مُقايَضَه، مُبادَلَهAn exchange of opinions is helpful.
2) a conversation or dispute:تَراشُق بالكَلام، تَبادُل كلام غاضِبAn angry exchange took place between the two brothers when their father's will was read.
3) the act of exchanging the money of one country for that of another.اسْتِبْدال، صَرْف4) the difference between the value of money in different countries:سِعْر الصَّرْف، سِعْر التَّبادُلWhat is the rate of exchange between the U.S. dollar and the yen?
5) a place where business shares are bought and sold or international financial dealings carried on.مَرْكِز التَّبادُل التِّجاري، بورْصَه6) ( also telephone exchange) a central telephone system where lines are connected.مَقْسَم هاتِفي، سِنْترال -
3 exchange rate spread
(U.K.) Finthe difference between the price at which a broker or other intermediary buys and sells foreign currency -
4 курсовая разница
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5 kur farkı
difference of exchange -
6 курсовая разница
Бизнес, юриспруденция. Русско-английский словарь > курсовая разница
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7 курсовая разница
difference in exchange (in rates), exchange rate difference -
8 курсовая разница
difference in exchange (in rates), exchange [rate] differenceBanks. Exchanges. Accounting. (Russian-English) > курсовая разница
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9 различие в валютных курсах
difference in rates/quotations, difference of exchange4000 полезных слов и выражений > различие в валютных курсах
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10 различие в валютных курсах
difference in exchange [rates]Banks. Exchanges. Accounting. (Russian-English) > различие в валютных курсах
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11 Kursbildung
Kursbildung
(Börse) price range (determination);
• Kursblatt daily quotations, note of exchange, stock-market report (US), list of stock-exchange quotations (Br.), stock-exchange list (Br.), (Börse) price list;
• amtliches Kursblatt stock-exchange daily official list (Br.);
• Kursblatt für Freiverkehrswerte (unnotierte Werte) over-the-counter report (US);
• Kursbuch (Bahn) railway (railroad, US) guide, timetable, schedule (US), Appleton (US);
• alphabetisches Kursbuch (Bahn) ABC (Br.);
• Kursdepesche telegraphic exchange quotation, exchange telegram;
• tägliche Kursdepesche daily telegraphic quotation;
• Kursderoute price collapse;
• Kursdifferenz (Börse) [price] difference, price spread, (Devisen) difference of exchange;
• Kursdruck pressure of prices, raid;
• Kursdurchschnitt average price;
• Kurseinbruch crash, break [in prices], sudden fall;
• starker Kurseinbruch stock-market slump, sharp break in prices;
• Kurseinbuße loss (decline) in price;
• Kurseinbuße bis zu 10% erleiden to suffer a loss in exchange up to 10 per cent;
• kleinste Kurseinheit tick;
• Kursentwicklung (Börse) trend of prices, stock trend, (Rentenwerte) trend of quotations, (Spielraum) price range;
• durchschnittliche Kursentwicklung market average;
• rückläufige Kursentwicklung downward movement of prices, declining price trend;
• Kurserhöhung rise in price, price advance (increase);
• vereinzelte Kurserhöhungen scattered advances;
• Kurserholung recovery of prices (the market), rally (comeback) in prices, price rally, recuperation of prices;
• Kursertragsmultiplikator price earnings multiple;
• Kursertragsverhältnis price-earnings ratio. -
12 разница в валютных курсах
1) Economy: exchange rate differential, exchange rates differentialsУниверсальный русско-английский словарь > разница в валютных курсах
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13 разница в курсах
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14 курс
1) (направление) course, policy, lineвзять курс на подъём чего-л. — to take the course / the path of raising smth.
изменять свой курс — to alter / to change one's course
намечать курс — to map out / to mark out a course; (в общих чертах) to outline a course
начертать курс — to chart a course (for)
придерживаться курса — to adhere / to stick to a policy / a course
проводить курс — to conduct / to pursue a policy, to hold / to pursue / to take a line, to steer / to tread a course
следовать курсом — to pursue / to follow the course
авантюристический курс — adventurist(ic) policy, policy of adventure
внешнеполитический курс — foreign policy, foreign policy course
генеральный курс — general line / course
жёсткий курс — hard / tough line, tough policy
проводить жёсткий курс в отношении страны — to take a strong / a hard line with a country
несговорчивый / упрямый сторонник жёсткого курса — intractable hard-liner
милитаристский курс — militarist course / policy
независимый курс — independent course / policy
искажать / фальсифицировать политический курс — to falsify a policy
сформулировать политический курс — to enunciate / to set out a policy
позитивный / положительный политический курс — positive policy
умеренный курс — moderate line, middle-of-the road course
курс на затягивание чего-л. — policy of dragging out smth. курс на конфронтацию collision course курс на оздоровление / улучшение отношений course toward(s) improving relations
курс на "прямое противоборство" — policy of "direct confrontation"
курс на сегрегацию без каких-л. отступлений — hard-line segregationist platform
курс партии — party line, party's policy
курс перестройки экономики — course for reorganization / restructuring of the economy
сторонник либерального курса — dove разг.
2) эк. course, rate, quotation exchangeиграть на повышение курса — to be bullish, to go a bull
играть на понижение курса — to be bearish, to go bear
биржевой курс — exchange / market quotation, share price
валютный курс, курс валюты — (foreign) exchange rate, course / par / rate of exchange, exchange
выгодный валютный курс — profitable rate of exchange, favourable exchange
высокий валютный курс — high rate (of exchange) / exchange rate
гибкий валютный курс — flexible exchange rate / rate of exchange
двойной валютный курс — double exchange rate / rate of exchange
действующий / эффективный валютный курс — effective exchange rate / rate of exchange
заключительный валютный курс — closing rate (of exchange) / exchange rate
закреплённый валютный курс — fixed rate (of exchange) / exchange rate
искусственно поддерживаемый валютный курс — pegged rate (of exchange) / exchange
колеблющийся валютный курс — floating / fluctuating / free exchange rate, variable exchange
единый / унифицированный колеблющийся валютный курс — unitary floating rate of exchange
наличный валютный курс — current rate of exchange / exchange rate
начальный валютный курс — opening rate of exchange / exchange rate
неодинаковые / различные валютные курсы — different rates of exchange / exchange rates
неподдерживаемый / нерегулируемый валютный курс — unpegged rate of exchange / exchange rate
неустойчивый валютный курс — variable exchange rate / rate of exchange
обменный валютный курс — exchange rate, rate of exchange
официально объявленный / официальный валютный курс (установленный центральным банком) — official rate (of exchange) / exchange rate
плавающий валютный курс — floating rate of exchange / exchange rate, float
вводить плавающий / свободно колеблющийся валютный курс — to float
повышенный валютный курс — higher rate of exchange / exchange rate
пониженный валютный курс — reduced rate (of exchange) / exchange rate
свободный валютный курс — free rate of exchange / exchange rate
справочный валютный курс — posted rate of exchange / exchange
твёрдый / фиксированный валютный курс — fixed exchange rate / rate of exchange
текущий рыночный валютный курс — going market rate of exchange / exchange rate
центральный валютный курс (не основанный на паритете Международного валютного фонда) — central rate (of exchange) / exchange rate
введение нового соотношения / новой системы валютных курсов — exchange rate alignment
расчёт валютного курса — (exchange) rate calculation, calculation of exchange
движение / динамика валютных курсов — exchange rate movements, movement in the exchange rate
размах колебаний валютного курса, пределы отклонений валютного курса от паритета — fluctuation band
курс валюты — см. валюта
неустойчивый курс иностраннной валюты — fluctuant foreign exchange rate, variable exchange
падение валютного курса — fall in the exchange rate / in exchange
курс акций — stock exchange; stock price амер.
ежедневно / еженедельно публикуемый курс акций — daily / weekly average
курс дня (иностранной валюты) — exchange / rate of the day
падение курса доллара (по отношению к евро) — the dollar's fall (against the euro)
курс при закрытии банка / биржи / рынка — closing rate
курс при открытии банка / биржи / рынка — opening rate
курс ценных бумаг — rate of securities, price
согласованный (в ходе переговоров) курс ценных бумаг — negotiated price
твёрдый / устойчивый курс ценных бумаг — firm price
курс, предлагаемый покупателем ценных бумаг — bid price
курс, предлагаемый продавцом ценных бумаг — asked price
3)быть в курсе политики — to be well informed / versed in politics
ввести в курс дела — to bring (smb.) up to date
держать в курсе дела — to keep (someone) informed
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15 различие в валютных курсах
1) Economy: difference in rates, difference of exchange2) Banking: exchange differenceУниверсальный русско-английский словарь > различие в валютных курсах
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16 Kursdifferenz
Kursdifferenz f 1. BÖRSE (AE) tail; price gap (significant price movement of a security or commodity between two trading sessions, e.g. such that the second day’s opening price is outside the first day’s trading range = Kursspanne); 2. WIWI exchange differences* * ** * *Kursdifferenz
(Börse) [price] difference, price spread, (Devisen) difference of exchange -
17 kurssiero
yks.nom. kurssiero; yks.gen. kurssieron; yks.part. kurssieroa; yks.ill. kurssieroon; mon.gen. kurssierojen; mon.part. kurssieroja; mon.ill. kurssieroihinagio (noun)price difference (noun)* * *finance, business, economy• differential in ratesfinance, business, economy• spreadfinance, business, economy• price differentialfinance, business, economy• premiumfinance, business, economy• difference in ratesfinance, business, economy• agiofinance, business, economy• difference in pricesfinance, business, economy• difference in exchangefinance, business, economy• price difference -
18 искусственное различие
огромная разница, глубокое различие — wide difference
Русско-английский большой базовый словарь > искусственное различие
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19 качественное различие
Русско-английский большой базовый словарь > качественное различие
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20 видовое различие
огромная разница, глубокое различие — wide difference
См. также в других словарях:
difference in exchange rate — valiutos kursų skirtumas statusas Aprobuotas sritis buhalterinė apskaita ir finansinė atskaitomybė apibrėžtis Skirtumas, atsirandantis dėl valiutos, kuria sudaromas finansinių ataskaitų rinkinys, ir užsienio valiutos kurso pasikeitimo, kai ta… … Lithuanian dictionary (lietuvių žodynas)
Exchange — may mean: * Trade or barter, the voluntary exchange of goods and/or services * Social exchange * Student exchange program or high school exchange * Exchange rule, from Mathematical Logic * The exchange (chess), the value difference between rook… … Wikipedia
exchange — [eks chānj′, ikschānj′] vt. exchanged, exchanging [ME eschaungen < OFr eschangier < VL * excambiare: see EX 1 & CHANGE] 1. a) to give, hand over, or transfer (for another thing in return) b) to receive or give another thing for (something … English World dictionary
exchange arbitrage — ➔ arbitrage * * * exchange arbitrage UK US noun [U] ► STOCK MARKET the practice of buying and selling a currency in a way that makes a profit, by taking advantage of a difference in prices of currencies in relation to each other: »American… … Financial and business terms
Exchange-traded fund — An exchange traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks.[1] An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs… … Wikipedia
Exchange interaction — In physics, the exchange interaction is a quantum mechanical effect without classical analog which increases or decreases the expectation value of the energy or distance between two or more identical particles when their wave functions overlap.… … Wikipedia
exchange — To barter; to swap. To part with, give or transfer for an equivalent. Kessler v. United States, C.C.A.Pa., 124 F.2d 152, 154. To transfer goods or services for something of equal value. Rosenberg v. State, 12 Md.App. 20, 276 A.2d 708, 711. Act of … Black's law dictionary
exchange — To barter; to swap. To part with, give or transfer for an equivalent. Kessler v. United States, C.C.A.Pa., 124 F.2d 152, 154. To transfer goods or services for something of equal value. Rosenberg v. State, 12 Md.App. 20, 276 A.2d 708, 711. Act of … Black's law dictionary
exchange — I. noun Usage: often attributive Etymology: Middle English exchaunge, from Anglo French eschange, from eschanger to exchange, from Vulgar Latin *excambiare, from Latin ex + cambiare to exchange more at change Date: 14th century 1. the act of… … New Collegiate Dictionary
exchange — ex•change [[t]ɪksˈtʃeɪndʒ[/t]] v. changed, chang•ing, n. 1) to give up (something) for something else; part with for some equivalent or substitute 2) to replace (returned merchandise) with something else 3) to give and receive reciprocally;… … From formal English to slang
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