外汇汇率

Meanwhile, providing guidance and financial instruments of foreign exchange for risk aversive exporters is also important to minimize foreign exchange rate risk and maintain stable growth of agricultural export.

同时，为风险厌恶的出口商提供相关指导和外汇金融工具以尽量规避汇率风险，也是保持农产品出口稳定和增长的一个重要政策手段。

Our country since 1994 the exchange rate was axled,the foreign trade basically has been at a favorable balance condition,the foreign exchange reserve grows quickly;Thus causes the RMB gradually to face the pressure of appreciation. On the July 21,2005 The Peoples Bank of China announced the RMB appreciated 2% compared with US dollar,which has been clear about the inevitable trend of RMB appreciation.

我国自1994年汇率并轨以来，对外贸易基本处于顺差状态，外汇储备增长较快；从而使人民币逐渐面临升值的压力。2005年7月21日中国人民银行宣布人民币对美元升值2%，表明了人民币升值的必然趋势。

Usually under the country's stable maintainment of RMB exchange rates, it makes commercial banks lack of foreign exchange management awareness and skills, various riskes gradually increases.

以往在国家稳定的人民币汇率的维护下，使商业银行缺乏外汇管理意识和技巧，各种风险逐步增大。

But the outburst of a series of regional financial crises makes people realized the speculativeness of the international financial capital, especially the strong impacts that it makes on the capital market, foreign exchange system, foreign exchange reserve and financial system of developing countries.

然而一系列区域性金融危机的爆发，使人们普遍意识到了国际金融资本的短期性和投机性，尤其是它对发展中国家的资本市场、汇率制度、外汇储备和金融体系的强烈冲击。

The Chinese central bank, seeing the pressure on the exchange rate,intervenes in the foreign-exchange market.

中国的中央银行，看到了这个汇率压力，就在外汇市场上进行干预。

Growth in China's foreign exchange reserves slowed sharply in the first quarter, providing Beijing with fresh evidence in its debate with Washington over whether it intentionally undervalues the renminbi.

今年第一季度，中国外汇储备增长大幅放缓。在中美两国政府就中国是否刻意低估人民币汇率展开的争论中，上述事实为中方提供了新的依据。

RMB regionalization is the process of RMB taking as international currency in East Asia. This process is the result of market choice, of which been taken RMB as transactions currency , quotation currency and asset currency in private department, then it also taken as intervention currency, unit-of-account currency and reserve currency in office department.

人民币区域化是人民币跨越国界实现货币职能的发展过程，是以市场为基础的货币选择结果，即人民币成为东亚区域贸易的支付媒介、计价单位和结算货币，进而逐步实现人民币作为区域内的国际债权、债务的记账单位和储备货币，并最终成为外汇市场上干预汇率的干预货币。

To keep the currency stable, China buys nearly all of the huge monthly inflows of foreign currency, then "sterilises" the extra local funds in the monetary system by issuing bank bills.

为保持汇率稳定，中国政府几乎买下了每月流入的所有巨额外汇，然后通过发行银行票据，&冲销&货币体系中额外的本地资金。

However, Arvind Subramanian, an economist at the Peterson Institute for International Economics in Washington, DC, points out that China's ability to sustain its exchange rate stems in part from "financial repression and autocracy". When China sterilises the monetary impact of rising reserves, its central bank pays interest of only about 2% on the bills that domestic state-owned banks are forced to buy, considerably less than the interest it earns on American Treasury bonds.

然而，华盛顿哥伦比亚特区DC彼得森国际经济研究所的经济学家Arvind Subramanian指出，中国有能力维持其汇率制度，部分原因是其&金融抑制和集权统治&中国消除不断增加的外汇储备对其货币流通影响时，其央银发行的债券，其它国有银行必须购买，利息仅为2％，比其所购买的美国债券利息低得多。

The relationship is cemented by Asia's quasi dollar pegs, which guarantee an automatic recycling of the region's massive build-up of foreign exchange reserves into dollar-denominated assets.

这一关系是建立在亚洲货币钉住美元汇率制度这个坚实基础上的。这一制度保证该地区积累下来的巨额外汇储备自然而然地被用于以美元计价的资产的投资上。

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。