远期外汇

人民币/美元远期外汇风险溢酬的研究

RMB / USD Forward Exchange Risk Premium : an Empirical Research

我明白了。我认为远期外汇市场对于进、出口商很重要。

I see . I think the forward exchange market is very important for the exporter and importer .

无本金交割远期外汇交易（Non-deliverableForwards，简称NDF）本质上是一种对未来价值进行定价的衍生品合约。

Non-deliverable forwards – or NDFs – are essentially a derivatives contract pricing future values .

如果你还需要更多证据，那就看看那些利用无本金交割远期外汇（NDF）市场做多人民币的人们，多年来遭受的损失吧。

If you need yet more proof , look at the losses incurred over the years by the people who have used the non-deliverable forward ( NDF ) market to go long the Chinese renminbi .

货币危机中的远期外汇市场参与者行为分析

Analysis on the Behavior of Participants of Forward Foreign Exchange Market

相信很多读者都知道人民币不交收远期外汇市场的存在。

Readers are aware of the renminbi non-deliverable forward market .

论远期外汇合同中银行与其客户之间的法律关系

On Legal Relationships between Banks and their Clients in Future Foreign Exchange Contracts

谁知道远期外汇汇率是怎么回事？

Who knows what forward foreign exchange rate is ?

对一些人而言，无本金交割远期外汇市场似乎是一个有些晦涩的领域。

The NDF market would seem to some to be a slightly obscure arena .

嗯，很难对远期外汇市。

Well , it would be difficult to overstate the importance of the forward .

然而，人们往往发现，签定远期外汇合同更为方便。

Yet people often find it more convenient to sign contracts for future exchange .

论人民币远期外汇市场的发展方向

The Development of RMB FX Forward Market

亚洲四国汇率风险与贸易&远期外汇市场的作用

Exchange Rate Risk and Trade in Asian Four Countries & The Role of Forward Markets

另外，我国外汇储备逐年增长，已达2200亿美元，中央银行同样需要运用远期外汇业务工具来管理好外汇储备。

Also the central bank needs to use it to control the foreign exchange reserves .

投资者会在远期外汇市场，按远期汇率将其在外国投资所得收益卖为本国货币，并将此收益同在本国投资所得收益进行对比。

In the forward market , Investors will sell their profit gained abroad , according to forward exchange rate .

通过对远期外汇协议以及利率互换风险的评测，使表外业务的风险评估成为可能；

We have found some ways to evaluate the risks of Foreign Exchange Forward Contract and Interest Rate Swaps ;

如果他们只卖出远期外汇，而不同时买进远期外汇，那就称作空头。

If they sell a currency forward without buying forward at the same time , this is called short .

目前国际上防范汇率风险的主要工具有远期外汇买卖、外汇期权、外汇期货和货币互换等。

The tools of risk management in the international market usually include forward contract , futures , options and swap .

金融机构代客户办理即期和远期外汇买卖管理规定

Provisions on Administration of Buy and Sale of Spot and Forward Foreign Exchange by Financial Institutes on Clients ' Behalf

远期外汇合同的交割日期可以任意定，但很少有延至几年的。

And forward exchange contracts can be made for any value date , but rarely extend more than a few years .

就目前而言，投资者可以通过在岸无本金交割远期外汇交易投资人民币。这种交易的优势在于流动性非常充足。

Currently , investors can gain access through onshore non-deliverable FX forwards , which have the advantage of being very liquid .

与外国做生意的商人和在海外有贷款承诺的客户可以将远期外汇用作风险管理的一种有效形式。

Traders with foreign countries and clients that have loan commitments overseas can use forward FX as an effective form of risk management .

外汇投机者已在打赌香港的联系汇率制将会松动：12个月远期外汇合约的价格已经体现了港元将微幅升值的预期。

Currency speculators are already betting that the Hong Kong dollar peg may snap : 12-month forwards are pricing in a slight strengthening .

在引入基本的出口模型之后，假设出口商可以进入远期外汇市场进行交易。

After introducing the basic exporting model , I will assume that the exporters can hedge currency risk in the forward exchange market .

女：所以我认为明智做法是采取远期外汇补进来保护我们在未到期合同中的利益。

W : So I thought it would be wise to take out forward exchange cover to protect our position on the outstanding contracts .

只要备兑利率评价理论成立，该推理就成立，这样海外远期外汇汇率就只能反应利率差额。

This reasoning would hold as long as covered interest rate parity held , so that offshore forward foreign exchange rates just reflect interest rate differentials .

指定的金融机构受客户委托代办即期和远期外汇买卖时，客户应当提供履约担保。

When the designated financial agency is entrusted by a client to buy and sell spot or forward foreign exchange , the client shall provide performance guarantee .

据估计，过去两个月内屡次入市支撑韩元的韩国政府，在现货与远期外汇市场上投入了400亿美元。

Korea , which has stepped in repeatedly to shore up the won , has spent an estimated $ 40bn over the past two months in the spot and forward FX markets .

最后，引用泰国案例，实证说明为了确保远期外汇市场能够提供准确的汇率价格信号，政府不应过度干预该市场。

Finally , with the case study of Thailand , the paper illustrated that to offer the accurate price signals of exchange rate , government should not intervene the forward markets too often .

远期外汇汇率是以合约形式固定下来的，日语的词汇有和语、汉语、外来语三种词汇。

The forward exchange rate is the rate that is contracted today for the delivery of a currency at a specified date in the future , Japanese glossary has three kinds of origins .