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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 transacciones del cambio extranjero
• foreign exchange transactionsDiccionario Técnico Español-Inglés > transacciones del cambio extranjero
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3 валютные операции
валютные операции
Урегулированные национальным законодательством или международным соглашением сделки, предметом которых являются валютные ценности.
[ОАО РАО "ЕЭС России" СТО 17330282.27.010.001-2008]Тематики
EN
Русско-английский словарь нормативно-технической терминологии > валютные операции
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4 валютные операции
1) General subject: currency trading, currency swaps, exchange operations, foreign exchange transactions2) Law: currency operations, FX operations3) Economy: exchange transactions, foreign exchange business, foreign exchange dealing, foreign exchange dealings, foreign exchange operations, foreign-exchange transactions4) Diplomatic term: money transactions6) Advertising: currency transactions7) Business: exchange transaction -
5 change
change [∫ɑ̃ʒ]masculine noun[de devises] exchange• gagner/perdre au change to gain/lose on the deal* * *ʃɑ̃ʒnom masculin1) ( taux) exchange rate2) ( opération) (foreign) exchangegagner/perdre au change — lit to make/to lose money on the exchange
perdre au change — fig to lose out
en quittant son emploi précédent il a gagné or il n'a pas perdu au change — when he left his previous job it was a change for the better
* * *ʃɑ̃ʒ nm1) COMMERCE exchangeopérations de change — foreign exchange transactions, exchange transactions
gagner au change — to be better off for it, to be better off
perdre au change — to be worse off for it, to be worse off
* * *change nm1 Fin ( taux) exchange rate; change fixe/flottant or flexible fixed/floating exchange rate; hausse/baisse du change rise/fall in the exchange rate; le change ne nous est pas favorable the exchange rate is not in our favourGB;2 Fin ( opération) (foreign) exchange; gagner/perdre au change lit to make/to lose money on the exchange; fig to make/to lose on the deal; en quittant son emploi précédent il a gagné or il n'a pas perdu au change when he left his previous job it was a change for the better;donner le change à qn to pull the wool over sb's eyes.[ʃɑ̃ʒ] nom masculin[taux] exchange rate‘change (ouvert de 9 h à 11 h)’ ‘bureau de change (open from 9 a.m. till 11 a.m.)’donner le change à quelqu'un [le duper] to hoodwink somebody, to put somebody off the trackgagner/perdre au changea. (sens propre) to be better/worse off because of the exchange rateb. (figuré) to come out a winner/loser on the deal2. [couche] -
6 valutahandel
subst. (valuta) currency dealing, dealing in foreign exchange, exchange activities, foreign exchange business, foreign exchange transactions subst. currency dealing subst. currency transactions subst. foreign exchange operations subst. foreign exchange trading, foreign currency trading subst. foreign exchange trade -
7 операции с иностранной валютой
2) Banking: exchange, dealings in foreign exchange3) Audit: foreign currency transactionsУниверсальный русско-английский словарь > операции с иностранной валютой
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8 Devisengeschäft
Devisengeschäft
transacting foreign business, foreign-exchange transaction (dealings), [foreign-]exchange operation, currency transaction (dealing);
• echtes Devisengeschäft true exchange;
• vierseitiges Devisengeschäft quadrangular operation in exchange;
• Devisengeschäfte einschneidenden Bestimmungen unterwerfen to strangle foreign-exchange transactions. -
9 valutaforretninger
pl. foreign exchange dealings, foreign exchange transactions, (foreign) currency dealings/transactions -
10 сделки с иностранной валютой
1) Economy: foreign exchange transactions2) Business: transactions in foreign exchangeУниверсальный русско-английский словарь > сделки с иностранной валютой
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11 Tobin-Steuer
Tobin-Steuer f POL, STEUER, WIWI Tobin tax (on foreign exchange transactions, control of capital movements)* * *f <Pol, Steuer, Vw> Tobin tax (on foreign exchange transactions, control of capital movements) -
12 Devisenverkehr
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13 transakcj|a
f (G pl transakcji) 1. Handl., Prawo (umowa handlowa) transaction, (business) deal- duża/podejrzana transakcja a major/shady deal- transakcja bankowa/finansowa/handlowa a banking/financial/business a. commercial transaction- transakcja gotówkowa/bezgotówkowa/kartą kredytową a cash/cashless/credit card transaction- transakcja pieniężna/walutowa a monetary/foreign currency transaction- transakcja kupna-sprzedaży a purchase and sale transaction- zawrzeć transakcję z kimś to do a deal a. carry out a transaction with sb- proponuję transakcję wiązaną: moje znaczki za twój rower I’ll make a deal with you a. let’s make a trade: my stamps for your bike2. Prawo (zawarcie umowy) transaction, deal- dokonać transakcji to make a transaction- sfinalizować transakcję to close a. complete a deal- transakcja nie doszła do skutku the deal fell through3. Handl. (handel) trade- transakcje dewizowe foreign exchange transactions- transakcje terminowe futures a. forward contracts- przeprowadzać transakcje giełdowe to trade on the stock exchangeThe New English-Polish, Polish-English Kościuszko foundation dictionary > transakcj|a
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14 Devisengeschäft
n1. (foreign) exchange transactions2. transaction in foreign exchange -
15 valutaomsetning
subst. foreign exchange transactions, currency transactions -
16 tätigen
tätigen v V&M close, transact, effect (Abschluss)* * *v <V&M> Abschluss close, transact, effect* * *tätigen
to effect, to transact, to carry out;
• Abschluss tätigen to transact a deal, to conclude a bargain;
• Abschlüsse auf London tätigen to effect exchange deals on London;
• Devisenabschlüsse tätigen to effect foreign exchange transactions;
• Dokumentengeschäft tätigen (Export) to negotiate;
• Effektengeschäfte auf Provisionsbasis tätigen to execute orders in quoted (listed, US) securities on a commission basis;
• Geschäft[e] tätigen to do (transact) business;
• unerlaubte Geschäfte tätigen to traffic;
• Großeinkäufe tätigen to wholesale, to buy in large quantities;
• Scheinkauf tätigen (Börse) to wash;
• größere Umsätze tätigen to outsell;
• Verkauf tätigen to execute (effect) a sale;
• Versicherungsabschluss tätigen to effect an insurance. -
17 инвалютные операции
Economy: foreign-exchange transactionsУниверсальный русско-английский словарь > инвалютные операции
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18 контроль валютных операций
Универсальный русско-английский словарь > контроль валютных операций
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19 Devisenabschlüsse tätigen
Devisenabschlüsse tätigen
to effect foreign exchange transactionsBusiness german-english dictionary > Devisenabschlüsse tätigen
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20 Devisengeschäfte einschneidenden Bestimmungen unterwerfen
Devisengeschäfte einschneidenden Bestimmungen unterwerfen
to strangle foreign-exchange transactions.Business german-english dictionary > Devisengeschäfte einschneidenden Bestimmungen unterwerfen
См. также в других словарях:
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Foreign exchange — Currency from another country. The New York Times Financial Glossary * * * foreign exchange foreign exchange ➔ exchange1 * * * Instruments used to make payments between countries. ► See FX. * * * foreign exchange UK US noun (ABBREVIA … Financial and business terms
foreign exchange — 1. commercial paper drawn on a person or corporation in a foreign nation. 2. the process of balancing accounts in commercial transactions between business organizations of different nations. [1685 95] * * * Purchase or sale of one national… … Universalium
foreign-exchange market — An international market in which foreign currencies are traded. It consists primarily of foreign exchange dealers employed by commercial banks (acting as principals) and foreign exchange brokers (acting as intermediaries). Although tight exchange … Big dictionary of business and management