外汇

In order to control the foreign exchange risk more effectively, we set up a closed cycle control system to manage the foreign exchange risk. This system is divided into four parts.

为更有效控制外汇风险，文章构建一个外汇风险管理闭环控制系统，对外汇风险进行全面、系统的管理。

Heller—Knight Model stressed the balance of trades effect in the currency structure of foreign exchange reserves decision. Dooly model shows the trade flows, the debt payment and the exchange arrangements will all affects the currency structure of foreign exchange reserves. There is some logic to each of these three models, but are not comprehensive enough.

资产组合理论强调货币的收益与风险在安排外汇储备币种结构中的作用，海勒——奈特模型强调贸易收支在决定外汇储备币种结构中的作用，杜利模型则将影响外汇储备币种结构的因素扩大为贸易流量、外债支付及汇率安排三个因素。

The linking of China's foreign exchange market went through two stages,that is, the stage of foreign exchange market of adjustment and the stage of foreign exchange market between banks.

我国的外汇市场经历了外汇调剂市场和银行之间的外汇市场两个发展阶段，形成具有一定规模的市场体系。

Handle foreign exchange deposits and loans, international remittance and settlement , foreign exchange bill discount, witness and guarantee.

办理外汇存款和贷款、国际汇兑结算、外汇票据贴现、外汇见证担保等业务。

After the publication of this Announcement, the measures for the administering the floating range of trading price of the US Dollar against the RMB in the inter-bank spot foreign exchange market and the spread of US Dollar exchange rate quotation of the banks to their clients will not be changed, and the Circular concerning Further Improving the Administration of Trading Exchange Rates in the Inter-bank Foreign Exchange Market and the Exchange Rate Quotations of Foreign Exchange Designated Banks (Yin Fa [2005] No. 250) as promulgated by the People's Bank of China on 23 September, 2005 is still applicable thereto.

本公告公布后，银行间即期外汇市场人民币兑非美元货币交易价的浮动幅度和银行对客户美元挂牌汇价价差幅度管理办法不变，仍按2005年9月23日中国人民银行发布的《中国人民银行关于进一步改善银行间外汇市场交易汇价和外汇指定银行挂牌汇价管理的通知》（银发〔2005〕250 号）规定执行。

Over holding of foreign exchange reserves not only affect the performance of currency policy, raised the pressure of the RMB appreciation and the risk of reserves negatively, but also deteriorate the efficiency of capital and resource of our country.

在外汇储备结构的研究中发现，我国外汇储备的来源结构波动性大，币种结构和投资结构过于集中，期限结构中缺乏短期投资，国际储备构成中外汇储备的比重偏大，民间储备比例偏低。

Along with the constantly increase of foreign currency deposit, the low interest rate in our country and the intrinsic risk of foreign exchange, the people holding foreign currency had not been satisfied with the simple investment channels, such as the ordinary bank deposit and the real time exchange. They hoped the market could provide some new investment channels.

随着我国外汇储蓄规模的不断增长，以及外币存款的低利率和外汇市场固有的汇率风险，外汇持有者已不再满足于只有普通存款和实盘买卖这样的投资渠道，他们盼望市场能提供有创新意义的新的投资渠道。

Trade currency which is basically foreign exchange market, is also known as Forex or FX market.

贸易货币基本上是外汇市场，也称为外汇或外汇市场。

In spite of foreign currency option is a good evade risk tool, foreign currency option as a financial derivative itself gestate huge risk because of foreign currency produced as evading risk demand.

尽管外汇期权是一个非常好的避险工具，但是外汇期权组合作为规避风险需要而产生的金融衍生工具本身就孕育着极大的风险，因此对金融衍生工具的核心之一—外汇期权的风险进行研究是非常必要和适时的。

However, there do still exists some serious problems, such as the huge overstocked exchange reserve, the single form for reserving, and the seriously unreasonable framework for reserving, all of which have aroused the potential danger on the foreign exchange market of China.

但是，我国外汇市场仍存在着外汇储备大量过剩，储备形式单1，储备结构不合理等严重问题，导致我国外汇市场潜在1定风险。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。