Stable currency based on bitcoin
Publish: 2021-04-24 18:52:52
1.
According to analysts at Goldman Sachs, bitcoin can become a legal and widespread form of currency, but it is mainly possible in theory
Analysts believe that the reality is that cryptocurrency still has a very high threshold in most places. First, the government cannot track who is buying or selling bitcoin. And as we all know, the price of cryptocurrency is very vulnerable to large fluctuations. This volatility is very rare in legal tender, so bitcoin is not suitable to be a reserve currency2. The fish pond is stable. However, the pool owners are all black, and there are no traitors or merchants.
3.
A: the connotation of stable currency
1. The stability of currency value is the ultimate goal of the central bank's monetary policy
When the price rises, the value of currency will decrease; When prices fall, the value of the currency rises
4. Pulling down the line is like an agent. You can look for your agent, that is, your agent. Your agent can also continue to look for his or her line. Level by level pulling can get a commission from it. In fact, it can't be regarded as cheating. For example, the direct selling instry needs to pull down the line, but MLM also uses the pull down mode, so many people think it's cheating.
5.
bus line: No.2, the whole journey is about 3.1km
1. Walk about 170m from Yuzhou City station school to bus company station
2. Take No.2 bus, pass 7 stops, reach the exhibition center station
3. Walk about 250m to Yulin gymnasium
6. Which of the following economic phenomena will result from a huge deficit in the balance of payments
A: d the exchange rate of the local currency goes down and exports decrease
the exchange rate is the conversion ratio between the foreign currency and the local currency, so it seems that there is no reference to "the exchange rate of the local currency"
exchange rate is also called "foreign exchange market or exchange rate". The ratio of one country's currency to another country's currency is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set< There are two pricing methods for foreign exchange rate:
(1) the direct quotation method (refer to "PAYABLE quotation method"), also known as the price quotation method, refers to the foreign currency with a certain unit (11001000, etc.) as the standard, (2) indirect quotation (referred to as "A / R quotation") is also known as quantitative quotation, which refers to the calculation of how many units of foreign currency are converted into a certain unit (11001000, etc.) of domestic currency. Under the gold standard system, the basis for determining the exchange rate is the golel point, Under the condition of paper currency circulation, the basis of its decision is purchasing power parity (PPP). It must be noted that with the development of foreign exchange globalization, the traditional direct pricing method and indirect pricing method used in various countries have been difficult to meet the needs of the development of international foreign exchange, and a unified way of exchange rate expression is needed. As a result, there is an international major currency or key currency as the standard way of pricing. At present. The foreign exchange rates published in foreign exchange markets of various countries are all based on US dollars. The exchange rate between the two currencies other than the US dollar must be calculated through the comparison between the respective currencies and the US dollar. This pricing method is called "dollar pricing method"
A: d the exchange rate of the local currency goes down and exports decrease
the exchange rate is the conversion ratio between the foreign currency and the local currency, so it seems that there is no reference to "the exchange rate of the local currency"
exchange rate is also called "foreign exchange market or exchange rate". The ratio of one country's currency to another country's currency is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set< There are two pricing methods for foreign exchange rate:
(1) the direct quotation method (refer to "PAYABLE quotation method"), also known as the price quotation method, refers to the foreign currency with a certain unit (11001000, etc.) as the standard, (2) indirect quotation (referred to as "A / R quotation") is also known as quantitative quotation, which refers to the calculation of how many units of foreign currency are converted into a certain unit (11001000, etc.) of domestic currency. Under the gold standard system, the basis for determining the exchange rate is the golel point, Under the condition of paper currency circulation, the basis of its decision is purchasing power parity (PPP). It must be noted that with the development of foreign exchange globalization, the traditional direct pricing method and indirect pricing method used in various countries have been difficult to meet the needs of the development of international foreign exchange, and a unified way of exchange rate expression is needed. As a result, there is an international major currency or key currency as the standard way of pricing. At present. The foreign exchange rates published in foreign exchange markets of various countries are all based on US dollars. The exchange rate between the two currencies other than the US dollar must be calculated through the comparison between the respective currencies and the US dollar. This pricing method is called "dollar pricing method"
7. You can take No. 81 from Jinqiao station to Jiangnan station, and then take No. 702. You can also take No. 25 from Langdong station to dashatian square, and then take No. 702. 81, 25702 are 2 yuan.
8. Exchange rate is also known as "foreign exchange market or exchange rate". The ratio of one currency to another is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set
there are two pricing methods for foreign exchange rate:
(1) direct quotation (refer to "PAYABLE quotation")
(2) indirect quotation (refer to "receivable quotation")
under the gold standard system, the basis for determining the exchange rate is the gold delivery point. Under the condition of paper currency circulation, the exchange rate is determined by the gold price, The basis of its decision is purchasing power par (purchasing power par)
the factors that affect the exchange rate change are:
(1) balance of payments. If a country's balance of payments is in surplus, its currency exchange rate will rise; If it is a deficit, the exchange rate of the country's currency will fall< (2) inflation. If the inflation rate is high, the exchange rate of the country's currency is low
(3) interest rate. If a country's interest rate rises, the exchange rate is high< (4) economic growth rate. If a country has a high economic growth rate, its currency exchange rate is high< (5) fiscal deficit. If a country has a huge budget deficit, its currency exchange rate will fall< (6) foreign exchange reserves. If a country's foreign exchange reserves are high, its currency exchange rate will rise
the relationship between interest rate and exchange rate
in the foreign exchange market, the change of a country's currency interest rate will cause the change of its exchange rate. Generally speaking, if the interest rate of a country's currency rises, the exchange rate of that currency is easy to rise; When a country's currency reces interest rate, it is easy to devalue. Take the British pound as an example. This year, the basic interest rate of the British pound has dropped below 5%, and its exchange rate against the US dollar has fallen below 1.50
however, there are some particularities in this relationship. In the foreign exchange market, there are often such situations. For example, when the interest rate increase is officially announced, the country's currency will fall instead of rising. When the interest rate cut is officially announced, the country's currency will rise instead of falling. This phenomenon shows that the market has digested the advantages of interest rate increase or the disadvantages of interest rate cut in advance. For example, in June 2000, the European Central Bank raised interest rates on the euro, but after the news was released, the exchange rate of the euro soon fell from 1 euro to 0.97 US dollars, mainly because the market has pushed the euro from 1 euro to 0.90 US dollars to 0.97 US dollars in advance
therefore, when trading in foreign exchange treasure, investors should grasp the following operation skills on the relationship between currency interest rate and exchange rate: generally, when a country's currency has the trend of interest rate rise, they buy the country's currency; once the news is official, they mainly sell it; On the contrary, when a country's currency has the trend of interest rate rection, it will sell the currency, and once the news is official, it will buy back the currency.
there are two pricing methods for foreign exchange rate:
(1) direct quotation (refer to "PAYABLE quotation")
(2) indirect quotation (refer to "receivable quotation")
under the gold standard system, the basis for determining the exchange rate is the gold delivery point. Under the condition of paper currency circulation, the exchange rate is determined by the gold price, The basis of its decision is purchasing power par (purchasing power par)
the factors that affect the exchange rate change are:
(1) balance of payments. If a country's balance of payments is in surplus, its currency exchange rate will rise; If it is a deficit, the exchange rate of the country's currency will fall< (2) inflation. If the inflation rate is high, the exchange rate of the country's currency is low
(3) interest rate. If a country's interest rate rises, the exchange rate is high< (4) economic growth rate. If a country has a high economic growth rate, its currency exchange rate is high< (5) fiscal deficit. If a country has a huge budget deficit, its currency exchange rate will fall< (6) foreign exchange reserves. If a country's foreign exchange reserves are high, its currency exchange rate will rise
the relationship between interest rate and exchange rate
in the foreign exchange market, the change of a country's currency interest rate will cause the change of its exchange rate. Generally speaking, if the interest rate of a country's currency rises, the exchange rate of that currency is easy to rise; When a country's currency reces interest rate, it is easy to devalue. Take the British pound as an example. This year, the basic interest rate of the British pound has dropped below 5%, and its exchange rate against the US dollar has fallen below 1.50
however, there are some particularities in this relationship. In the foreign exchange market, there are often such situations. For example, when the interest rate increase is officially announced, the country's currency will fall instead of rising. When the interest rate cut is officially announced, the country's currency will rise instead of falling. This phenomenon shows that the market has digested the advantages of interest rate increase or the disadvantages of interest rate cut in advance. For example, in June 2000, the European Central Bank raised interest rates on the euro, but after the news was released, the exchange rate of the euro soon fell from 1 euro to 0.97 US dollars, mainly because the market has pushed the euro from 1 euro to 0.90 US dollars to 0.97 US dollars in advance
therefore, when trading in foreign exchange treasure, investors should grasp the following operation skills on the relationship between currency interest rate and exchange rate: generally, when a country's currency has the trend of interest rate rise, they buy the country's currency; once the news is official, they mainly sell it; On the contrary, when a country's currency has the trend of interest rate rection, it will sell the currency, and once the news is official, it will buy back the currency.
9. Is it far from Zhongshan Road? No, just get off at Yongfeng Road station and walk back a little
10. What is exchange rate
exchange rate is also called "foreign exchange market or exchange rate". The ratio of one currency to another is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set
exchange rate is the most important adjusting lever in international trade. Because the cost of goods proced by a country is calculated according to its own currency, in order to compete in the international market, the cost of goods must be related to the exchange rate. The level of exchange rate will directly affect the cost and price of the commodity in the international market, and directly affect the international competitiveness of the commodity
for example, if the exchange rate between us dollar and RMB is 8.25, the price of a commodity worth 100 yuan in the international market is 12.12 US dollars. If the US dollar exchange rate rises to 8.50, that is to say, the US dollar appreciates and the RMB depreciates, the price of the commodity in the international market will be US $11.76. The lower the price of the commodity, the more competitive it will be, the better it will be sold, thus stimulating the export of the commodity. On the contrary, if the US dollar exchange rate falls to 8.00, that is to say, the US dollar depreciates and the RMB appreciates, then the price of the commodity in the international market is US $12.50. The high price commodity is certainly not easy to sell, and will certainly hit the export of this commodity. Similarly, the appreciation of the US dollar and the depreciation of the RMB will restrict the import of goods to China. Conversely, the depreciation of the US dollar and the appreciation of the RMB will greatly stimulate the import
now you should understand why the Japanese and Americans are always clamoring for the appreciation of the RMB. The appreciation of the RMB will greatly increase the cost of Chinese exports in the international market, undermine the competitiveness of Chinese goods, and in turn stimulate China to import a large number of their goods. At the same time, you should also understand why China's insistence on the non devaluation of RMB is a major contribution to the international community ring the Asian financial crisis? If the RMB devalues, the financial crisis of other countries will be even worse
it is precisely because the fluctuation of exchange rate will bring such a wide range of fluctuations to import and export trade that many countries and regions implement relatively stable monetary exchange rate policies. The Chinese mainland's import and export volume has increased steadily and has benefited to a large extent from the stable RMB exchange rate policy.
[editor] buying rate, selling rate and intermediate rate are generally concentrated in commercial banks and other financial institutions. The purpose of buying and selling foreign exchange is to pursue profits. The method is to buy at a low price and sell at a high price. The exchange rate used by commercial banks and other institutions to buy foreign currency is called & quot; Buying rate & quot Buying rate), also known as & quot; Purchase price;; The exchange rate used to sell foreign currency is called & quot; Selling rate & quot Selling rate), also known as & quot; Selling price;, The difference between the buying exchange rate and the selling exchange rate is generally between one thousandth and five thousandth, which varies from country to country. The sum of the buying rate and the buying rate, divided by 2, is the medium rate
generally, the foreign exchange rates listed on the foreign exchange market include the buying rate and the selling rate. Under the direct pricing method, a local currency number after a certain foreign currency represents & quot; Purchase price & quot; That is, the amount of local currency paid to the customer when the bank buys foreign currency; The latter local currency number represents & quot; Selling price;, That is, the amount of local currency that banks charge customers when they sell foreign currency. Under the indirect fare method, the situation is just the opposite. The figure of the foreign currency before the local currency is & quot; Selling price;, That is, when the bank receives a certain amount of (1 or 100) local currency and sells foreign currency, the amount of foreign currency it pays the customer; The latter foreign currency figure is & quot; Purchase price;, That is, when a bank pays a certain amount of (1 or 100) local currency to buy foreign currency, the amount of foreign currency it receives from customers
the rise of foreign exchange rate mentioned in economic newspapers and periodicals indicates that foreign currency is more expensive under the direct pricing method, so the amount of local currency converted into foreign currency is less than before. Foreign currency exchange rates fell, but the opposite was true<
[Edit] types of foreign exchange rate
classification of foreign exchange rate
(1) according to the degree of tightness of foreign exchange control, it can be divided into official rate and market rate
① official exchange rate (legal exchange rate): this kind of exchange rate mainly refers to the exchange rate stipulated by the government (such as the Ministry of finance, the central bank or the designated specialized foreign exchange banks). In countries with strict foreign exchange control, free market is prohibited. The official exchange rate is the real exchange rate, but there is no market exchange rate< (2) market exchange rate: it refers to the actual exchange rate for buying and selling foreign exchange in the free foreign exchange market. In countries with loose foreign exchange control, the official exchange rate is usually only a form, with price but no market, and the actual foreign exchange transactions are concted according to the market exchange rate< (2) according to the nature and use of foreign exchange funds, it can be divided into commercial rate and financial rate< (1) trade exchange rate: it mainly refers to the exchange rate used for import and export trade and its subsidiary expenses< (2) financial exchange rate: mainly refers to the exchange rate of capital transfer and tourism< (3) according to whether the exchange rate is suitable for different sources and purposes, it can be divided into single rate and multiple rate
① single exchange rate: where a country has only one foreign exchange rate, the receipts and payments from different sources and purposes are calculated according to this, which is called single exchange rate
② multiple exchange rates: the exchange rate of a country's currency to a foreign currency is regulated to have two or more exchange rates e to different purposes and transaction types, which is called multiple exchange rates, also known as compound exchange rates< (4) according to foreign exchange trading instruments and payment time, it can be divided into:
① T / T rate: the foreign exchange price notified by telegram or telex for payment is called t / T rate. Telegraphic exchange rate settlement time is the fastest, general banks can not occupy customer funds, so the most expensive telegraphic exchange rate. In bank foreign exchange transactions, the buying and selling price refers to the telegraphic transfer rate. Telegraphic transfer rate is the basis for calculating other exchange rates< (2) m / T rate: the foreign exchange rate for notifying payment by letter. As it takes longer time for air mail to inform customers than by telegram or telex, banks can occupy customers' funds within a certain period of time, so the exchange rate of mail transfer is lower than that of telex transfer< (3) d / D rate: the exchange rate used in the exchange of various foreign exchange bills, cheques and other bills is called D / D rate. Foreign currency exchange can also be included in this column. Because the term of bill exchange can be divided into spot and forward, the exchange rate can be divided into spot bill exchange rate and forward bill exchange rate, and the latter needs to dect the interest of forward payment on the basis of spot bill exchange rate
4. Forward rate: forward rate refers to the foreign exchange trading price agreed in advance for delivery in the future< (5) according to the trading object:
1. Inter bank rate: refers to the foreign exchange rate used in foreign exchange transactions between banks, that is, the exchange rate in the foreign exchange market< (2) commercial rate: refers to the exchange rate between banks and merchants for foreign exchange transactions< (6) according to the delivery period of foreign exchange trading, the exchange rate can be divided into spot rate and forward rate. The so-called delivery refers to the transaction contract between the buyer and the seller to clear the money and goods. The delivery of foreign exchange trading refers to the behavior that the buyer of foreign exchange pays the local currency and the seller of foreign exchange pays the foreign exchange. Due to different delivery dates, there are differences in exchange rates< (1) spot exchange rate, also known as spot exchange rate, is the exchange rate used for foreign exchange delivery within two business days after the transaction between the buyer and the seller
② forward exchange rate, also known as forward exchange rate, is the exchange rate agreed by the buyer and the seller in advance, according to which foreign exchange delivery can be carried out on a certain date in the future
[Edit] there are two pricing methods for foreign exchange rate:
(1) direet quotation (refer to "PAYABLE quotation")
(2) indirect quotation (refer to "receivable quotation")
under the gold standard system, The basis of exchange rate determination is the golel point. Under the condition of paper currency circulation, the basis of exchange rate determination is purchasing power parity (PPP).
[editor] factors influencing exchange rate fluctuation
there are four basic factors influencing exchange rate fluctuation:
first, balance of payments and foreign exchange reserves. The so-called balance of payments is the comparison between the total monetary income of a country and the total monetary expenditure paid to other countries. If the total amount of money income is greater than the total amount of expenditure, there will be a balance of payments surplus, otherwise, there will be a balance of payments deficit. The balance of payments has a direct impact on a country's exchange rate. If the balance of payments surplus occurs, the foreign exchange rate of the country's currency will rise, otherwise, the exchange rate of the country's currency will fall< Second, interest rate. As a basic reflection of a country's lending situation, interest rate plays a decisive role in the fluctuation of exchange rate. The level of interest rate has a direct impact on international capital flows. High interest rate countries have capital inflows, while low interest rate countries have capital outflows. Capital flows will cause changes in the supply and demand of foreign exchange market, thus affecting the fluctuations of foreign exchange rate. Generally speaking, a country's interest rate rise will lead to its currency appreciation, on the contrary, its currency depreciation< Thirdly, inflation. Generally speaking, inflation will lead to the decline of domestic currency exchange rate, and the alleviation of inflation will make the exchange rate rise. Inflation affects the value and purchasing power of the local currency. It will lead to a decrease in the competitiveness of exports and an increase in imports. It will also lead to a psychological impact on the foreign exchange market and weaken the credit status of the local currency in the international market. These three aspects will lead to the devaluation of the local currency< Fourth, the political situation. Changes in the political situation of a country and internationally will have an impact on the foreign exchange market. Changes in the political situation generally include political conflicts, military conflicts, elections and regime changes. Sometimes these political factors have a great impact on the exchange rate, but the impact time is generally short<
[editor] Q & A on exchange rate related knowledge
1. How many methods are there to analyze exchange rate
there are two main methods to analyze exchange rate: basic analysis and technical analysis. Basic analysis is to analyze the basic factors that affect the foreign exchange rate. The basic factors mainly include the economic development level and situation of various countries, the political situation of the world, regions and countries, market expectations, etc. Technical analysis is to predict the future trend of exchange rate by means of research methods and means of psychology, statistics and other disciplines. Basic analysis of exchange rate
2. What are the classical theories of exchange rate change in the world today
there are mainly three: the international lending theory of British scholar Gerson and the purchasing power parity theory of Swedish economist Kassel
exchange rate is also called "foreign exchange market or exchange rate". The ratio of one currency to another is the price of another currency expressed in one currency. Due to the different names and values of currencies in the world, the exchange rate of one country's currency to that of other countries should be set
exchange rate is the most important adjusting lever in international trade. Because the cost of goods proced by a country is calculated according to its own currency, in order to compete in the international market, the cost of goods must be related to the exchange rate. The level of exchange rate will directly affect the cost and price of the commodity in the international market, and directly affect the international competitiveness of the commodity
for example, if the exchange rate between us dollar and RMB is 8.25, the price of a commodity worth 100 yuan in the international market is 12.12 US dollars. If the US dollar exchange rate rises to 8.50, that is to say, the US dollar appreciates and the RMB depreciates, the price of the commodity in the international market will be US $11.76. The lower the price of the commodity, the more competitive it will be, the better it will be sold, thus stimulating the export of the commodity. On the contrary, if the US dollar exchange rate falls to 8.00, that is to say, the US dollar depreciates and the RMB appreciates, then the price of the commodity in the international market is US $12.50. The high price commodity is certainly not easy to sell, and will certainly hit the export of this commodity. Similarly, the appreciation of the US dollar and the depreciation of the RMB will restrict the import of goods to China. Conversely, the depreciation of the US dollar and the appreciation of the RMB will greatly stimulate the import
now you should understand why the Japanese and Americans are always clamoring for the appreciation of the RMB. The appreciation of the RMB will greatly increase the cost of Chinese exports in the international market, undermine the competitiveness of Chinese goods, and in turn stimulate China to import a large number of their goods. At the same time, you should also understand why China's insistence on the non devaluation of RMB is a major contribution to the international community ring the Asian financial crisis? If the RMB devalues, the financial crisis of other countries will be even worse
it is precisely because the fluctuation of exchange rate will bring such a wide range of fluctuations to import and export trade that many countries and regions implement relatively stable monetary exchange rate policies. The Chinese mainland's import and export volume has increased steadily and has benefited to a large extent from the stable RMB exchange rate policy.
[editor] buying rate, selling rate and intermediate rate are generally concentrated in commercial banks and other financial institutions. The purpose of buying and selling foreign exchange is to pursue profits. The method is to buy at a low price and sell at a high price. The exchange rate used by commercial banks and other institutions to buy foreign currency is called & quot; Buying rate & quot Buying rate), also known as & quot; Purchase price;; The exchange rate used to sell foreign currency is called & quot; Selling rate & quot Selling rate), also known as & quot; Selling price;, The difference between the buying exchange rate and the selling exchange rate is generally between one thousandth and five thousandth, which varies from country to country. The sum of the buying rate and the buying rate, divided by 2, is the medium rate
generally, the foreign exchange rates listed on the foreign exchange market include the buying rate and the selling rate. Under the direct pricing method, a local currency number after a certain foreign currency represents & quot; Purchase price & quot; That is, the amount of local currency paid to the customer when the bank buys foreign currency; The latter local currency number represents & quot; Selling price;, That is, the amount of local currency that banks charge customers when they sell foreign currency. Under the indirect fare method, the situation is just the opposite. The figure of the foreign currency before the local currency is & quot; Selling price;, That is, when the bank receives a certain amount of (1 or 100) local currency and sells foreign currency, the amount of foreign currency it pays the customer; The latter foreign currency figure is & quot; Purchase price;, That is, when a bank pays a certain amount of (1 or 100) local currency to buy foreign currency, the amount of foreign currency it receives from customers
the rise of foreign exchange rate mentioned in economic newspapers and periodicals indicates that foreign currency is more expensive under the direct pricing method, so the amount of local currency converted into foreign currency is less than before. Foreign currency exchange rates fell, but the opposite was true<
[Edit] types of foreign exchange rate
classification of foreign exchange rate
(1) according to the degree of tightness of foreign exchange control, it can be divided into official rate and market rate
① official exchange rate (legal exchange rate): this kind of exchange rate mainly refers to the exchange rate stipulated by the government (such as the Ministry of finance, the central bank or the designated specialized foreign exchange banks). In countries with strict foreign exchange control, free market is prohibited. The official exchange rate is the real exchange rate, but there is no market exchange rate< (2) market exchange rate: it refers to the actual exchange rate for buying and selling foreign exchange in the free foreign exchange market. In countries with loose foreign exchange control, the official exchange rate is usually only a form, with price but no market, and the actual foreign exchange transactions are concted according to the market exchange rate< (2) according to the nature and use of foreign exchange funds, it can be divided into commercial rate and financial rate< (1) trade exchange rate: it mainly refers to the exchange rate used for import and export trade and its subsidiary expenses< (2) financial exchange rate: mainly refers to the exchange rate of capital transfer and tourism< (3) according to whether the exchange rate is suitable for different sources and purposes, it can be divided into single rate and multiple rate
① single exchange rate: where a country has only one foreign exchange rate, the receipts and payments from different sources and purposes are calculated according to this, which is called single exchange rate
② multiple exchange rates: the exchange rate of a country's currency to a foreign currency is regulated to have two or more exchange rates e to different purposes and transaction types, which is called multiple exchange rates, also known as compound exchange rates< (4) according to foreign exchange trading instruments and payment time, it can be divided into:
① T / T rate: the foreign exchange price notified by telegram or telex for payment is called t / T rate. Telegraphic exchange rate settlement time is the fastest, general banks can not occupy customer funds, so the most expensive telegraphic exchange rate. In bank foreign exchange transactions, the buying and selling price refers to the telegraphic transfer rate. Telegraphic transfer rate is the basis for calculating other exchange rates< (2) m / T rate: the foreign exchange rate for notifying payment by letter. As it takes longer time for air mail to inform customers than by telegram or telex, banks can occupy customers' funds within a certain period of time, so the exchange rate of mail transfer is lower than that of telex transfer< (3) d / D rate: the exchange rate used in the exchange of various foreign exchange bills, cheques and other bills is called D / D rate. Foreign currency exchange can also be included in this column. Because the term of bill exchange can be divided into spot and forward, the exchange rate can be divided into spot bill exchange rate and forward bill exchange rate, and the latter needs to dect the interest of forward payment on the basis of spot bill exchange rate
4. Forward rate: forward rate refers to the foreign exchange trading price agreed in advance for delivery in the future< (5) according to the trading object:
1. Inter bank rate: refers to the foreign exchange rate used in foreign exchange transactions between banks, that is, the exchange rate in the foreign exchange market< (2) commercial rate: refers to the exchange rate between banks and merchants for foreign exchange transactions< (6) according to the delivery period of foreign exchange trading, the exchange rate can be divided into spot rate and forward rate. The so-called delivery refers to the transaction contract between the buyer and the seller to clear the money and goods. The delivery of foreign exchange trading refers to the behavior that the buyer of foreign exchange pays the local currency and the seller of foreign exchange pays the foreign exchange. Due to different delivery dates, there are differences in exchange rates< (1) spot exchange rate, also known as spot exchange rate, is the exchange rate used for foreign exchange delivery within two business days after the transaction between the buyer and the seller
② forward exchange rate, also known as forward exchange rate, is the exchange rate agreed by the buyer and the seller in advance, according to which foreign exchange delivery can be carried out on a certain date in the future
[Edit] there are two pricing methods for foreign exchange rate:
(1) direet quotation (refer to "PAYABLE quotation")
(2) indirect quotation (refer to "receivable quotation")
under the gold standard system, The basis of exchange rate determination is the golel point. Under the condition of paper currency circulation, the basis of exchange rate determination is purchasing power parity (PPP).
[editor] factors influencing exchange rate fluctuation
there are four basic factors influencing exchange rate fluctuation:
first, balance of payments and foreign exchange reserves. The so-called balance of payments is the comparison between the total monetary income of a country and the total monetary expenditure paid to other countries. If the total amount of money income is greater than the total amount of expenditure, there will be a balance of payments surplus, otherwise, there will be a balance of payments deficit. The balance of payments has a direct impact on a country's exchange rate. If the balance of payments surplus occurs, the foreign exchange rate of the country's currency will rise, otherwise, the exchange rate of the country's currency will fall< Second, interest rate. As a basic reflection of a country's lending situation, interest rate plays a decisive role in the fluctuation of exchange rate. The level of interest rate has a direct impact on international capital flows. High interest rate countries have capital inflows, while low interest rate countries have capital outflows. Capital flows will cause changes in the supply and demand of foreign exchange market, thus affecting the fluctuations of foreign exchange rate. Generally speaking, a country's interest rate rise will lead to its currency appreciation, on the contrary, its currency depreciation< Thirdly, inflation. Generally speaking, inflation will lead to the decline of domestic currency exchange rate, and the alleviation of inflation will make the exchange rate rise. Inflation affects the value and purchasing power of the local currency. It will lead to a decrease in the competitiveness of exports and an increase in imports. It will also lead to a psychological impact on the foreign exchange market and weaken the credit status of the local currency in the international market. These three aspects will lead to the devaluation of the local currency< Fourth, the political situation. Changes in the political situation of a country and internationally will have an impact on the foreign exchange market. Changes in the political situation generally include political conflicts, military conflicts, elections and regime changes. Sometimes these political factors have a great impact on the exchange rate, but the impact time is generally short<
[editor] Q & A on exchange rate related knowledge
1. How many methods are there to analyze exchange rate
there are two main methods to analyze exchange rate: basic analysis and technical analysis. Basic analysis is to analyze the basic factors that affect the foreign exchange rate. The basic factors mainly include the economic development level and situation of various countries, the political situation of the world, regions and countries, market expectations, etc. Technical analysis is to predict the future trend of exchange rate by means of research methods and means of psychology, statistics and other disciplines. Basic analysis of exchange rate
2. What are the classical theories of exchange rate change in the world today
there are mainly three: the international lending theory of British scholar Gerson and the purchasing power parity theory of Swedish economist Kassel
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