外汇

In this study, we use a sample of 186 firms in Taiwan that have export ratio for at least 10 percent in the sample period to examine their exchange rate exposures and the effect of usage of currency derivatives on currency exposures. In the determinants of exchange rate exposure, we find that exchange rate exposure is positively related to the foreign sales ratio, firm size and quick ratio.

过去相关外汇暴露的文献，主要在讨论国际企业的外汇暴露的大小与其决定因子，受限於企业使用衍生性金融商品交易资料取得不易，过去的模型中通常仅以虚拟变数的方式，来分析公司使用衍生性金融商品避险的影响，而未进一步分析其使用程度对外汇暴露的影响。

Article 98 Enterprises which must complete procedures for tax refunds in the case of overpayments of tax may, where income in foreign currency has already been converted into Renminbi according to the foreign exchange rate, convert the amount of the tax in Renminbi to be refunded into foreign currency according to the exchange rate in effect when the tax was originally paid, and then reconvert this amount of foreign currency into Renminbi according to the foreign exchange rate at the date of issuance of the tax refund certificate.

第九十八条企业所得为外国货币并已按照外汇牌价折合成人民币缴纳税款的，发生多缴税款需要办理退税时，可以将应退的人民币税款，按照原缴纳税款时的外汇牌价折合成外国货币，再将该外国货币数额按照填开退税凭证当日的外汇牌价折合成人民币退还税款

Therefore, Bank of China shall, under the fierce occupation from the interbanks and companies, study and analyze the status quo of its PFXR and contrast its strength and weakness of PFXR with interbanks, especially with the international remittance companies on behalf of Western Union, all of which are of realistic significance in the resurvey, rearrangement, and reengineering of the PFXR product at BOC, and improve the competition capability.

本文共分七个章节，通过研究国内外个人外汇汇款发展态势，对中国银行与西联国际汇款公司在客户定位、业务系统、操作流程、清算模式、定价机制等方面进行了对比，正确、客观评估了中国银行个人外汇汇款产品的竞争优劣势，并深入分析了中国银行与西联国际汇款公司合作的利弊，提出了中国银行个人外汇汇款产品的发展规划。

The Client understands that the Internet Precious Metals and FX Trading Services provided by the Dealer isan automated service that enables him to send electronic instructions to purchase, sell and otherwise deal with spot precious metals and FX. The Client hereby agrees to open and maintain spot precious metals and FX trading account with the Dealer, which can enable him to use the aforesaid services and

客户明白交易商提供之网上贵金属现货及外汇买卖服务使客户能透过互联网买卖贵金属现货，客户根据以下条款及条件及受此等条款及条件规限，同意开设及维持一贵金属现货交易户口及透过交易商网上贵金属现货及外汇买卖服务运作该户口，以进行贵金属现货及外汇买卖

The Client understands that the Internet Precious Metals and FX Trading Services provided by the Dealer is an automated service that enables him to send electronic instructions to purchase, sell and otherwise deal with spot precious metals and FX. The Client hereby agrees to open and maintain spot precious metals and FX trading account with the Dealer, which can enable him to use the aforesaid services and subject to the following terms and conditions

客户明白交易商提供之网上贵金属现货及外汇买卖服务使客户能透过互联网买卖贵金属现货，客户根据以下条款及条件及受此等条款及条件规限，同意开设及维持一贵金属现货交易户口及透过交易商网上贵金属现货及外汇买卖服务运作该户口，以进行贵金属现货及外汇买卖

Foreign exchange reserve plays an important role in balancing income and payments,stabling foreign exchange and repaying external debts. However,excessive foreign exchange reserve not only idling foreign exchange reserve resource and increases opportunity cost, but also affect the independence and effectiveness of the monetary policy ,decreases social's economical efficiency.

外汇储备在平衡国际收支、稳定汇率和偿还外债中发挥着重要的作用，然而过量的外汇储备会造成外汇资源闲置和机会成本的上升，还会影响货币政策的独立性和有效性，降低社会的经济效率。

It introduces foreign exchange including the practice and application of spot exchange transaction, forward exchange transaction, swap transaction, arbitrage, covered interest arbitrage, foreign futures, foreign options, and international

该课程主要介绍各类型的外汇交易包括即期、远期、掉期、套汇、抵补套利、外汇期货、外汇期权、国际融资等交易的操作及应用等内容。

China have the most foreign exchange reserves in the world, we should adjust ocurrency composition of our foreige exchange reserves, increase the shares of Japanee yen reserves to reduce the risk of reserves and the loss from reserves.

我国是全球最大的外汇储备国，在外汇储备的框架内，我们应该调整外汇储备的币种结构，提高日元储备的份额，以降低储备的风险和减少储备的损失。

This essay firstly analyzes the economic and social advantages, which binged by the foreign exchange reserve, and budgets by mathematic ways the amount of the best foreign exchange reserve in 2004. The last conclusion is: the foreign exchange reserve of our country is not enough.

本文对充足外汇储备给我国经济和社会带来的有利之处进行了理论上的分析后，又采取数学方法对我国2004年最佳的外汇储备数额进行了测算，得出了一个结论：我国的外汇储备并不多。

Our country puts the foreign currency management system being responsible for the earnings and spendings in a unified way into practice before the reform and openness, all foreign exchange revenue and spending the directive plan is arranged for by the country , foreign exchange market does not exists also right away.

改革开放以前，我国实行统收统支的外汇管理体制，一切外汇收支都由国家指令性计划安排，也就不存在外汇市场。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。