汇率

By describing the economic situation in Vietnam, this essay analyzes the reasons which caused the crisis on the base of Kuli-Portfolio model. The conclusion is that the trade deficit on current account for a country may cause its exchange rate devaluating and make the long-term capital outflow if its long-term policy of expansion causes too much liquidity and it invest in domestic enterprises blindly without the improvement of actual competition. It isn't suitable for a country to open its capital account if its financial system is not healthy enough.

本文在对越南危机现状描述的基础上，基于库里资产组合模型对危机的原因进行了深度剖析，得出结论：如果伴随着长期扩张政策带来的是流动性过剩和对国内企业的盲目注资而没有实际生产力的提升，一国经常项目的逆差可能引起本国汇率贬值和长期资本外流；若一国的金融体系不健全，不宜轻易开放资本项目。

But the dollar's relative strength weighs heavily on the results of American firms by devaluing their foreign revenues.

但是就美元所保持着相对的汇率增长所主要是依靠美国的公司在对外贸易中对于外国的收益的贬值。

It further disserts that the efficiency of exchange rate risk managed by financial engineering implement can be measured by hedge rate.

论文进一步论述了金融工程工具管理汇率风险的效率可以用套期保值率来衡量。

For example, China's continued insistence on holding down its currency inflicts significant damage on Brazil's manufacturers and dissuades it from diversifying away from commodities.

例如，中国继续坚持压低人民币汇率，给巴西制造商造成严重伤害，并阻止了巴西从大宗商品转向多样化发展。

The uninitiated could come away from Krugman's piece thinking China has never touched its exchange rate - his recap elides the three-year-period where Beijing let the yuan rise against the dollar.

照克鲁格曼的说法，有人可能会认为中国从未调整过其汇率──克鲁格曼的话忽略了中国政府让人民币兑美元上涨的三年。

But against the actions of the governments, like embargoes, a shipper can only protect himself by making special arrangements with his own government.

外汇汇率的波动可以通过买进或卖出远期外汇加以解决，但对付政府的某些行动如禁运，发货人则能同自己的政府作些特别安排以保护自己的利益不受损失。

I can tell you that at this point in time, American equipment manufacturers are doing quite well in Europe, and are feeling emboldened with the help of the Euro versus Dollar exchange.

我可以告诉你，在这个时候，美国设备制造商正在做很好在欧洲，都感到有恃无恐的帮助下，欧元兑美元的汇率。

ALL DRAFTS SHOULD BE MARKED AS HAVING BEEN DRAWN UNDER THIS CREDIT AND ENFACED PAYABLE AT CURRENT SELLING RATE OF EXCHANGE ON NEW YORK WITH CHARGES AND INTEREST AT CURENT RATE FROM DATE HEREOF TO APPROXIMATE ARRIVAL DATE OF RETURN REMITTANCE.

所有汇票应注明在本证项下出具，并印上&可按纽约现行卖出汇率支付费用和按现行利率支付从即日至偿还款项之大约到达日的利息。&

ALL DRAFTS SHOULD BE MARKED AS HAVING BEEN DRAWN UNDER THIS CREDIT AND ENFACED PAYABLE AT CURRENT SELLING RATE OF EXCHANGE ON NEW YORK WITH CHARGES AND INTEREST AT CURENT RATE FROM DATE HEREOF TO APPROXIMATE ARRIVAL DATE OF RETURN REMITTANCE.

& 翻译：所有汇票应注明在本证项下出具，并印上&可按纽约现行卖出汇率支付费用和按现行利率支付从即日至偿还款项之大约到达日的利息。

ALL DRAFTS SHOULD BE MARKED AS HAVING BEEN DRAWN UNDER THIS CREDIT AND ENFACED "PAYABLE AT CURRENT SEILLING RATE OF EXCHANGE ON NEW YORK WITH CHARGES AND INTEREST AT CURRENT RATE FROM DATE HEREOF TO APPROXIMATE ARRIVAL DATE OF RETURN REMITTANCE".

所有汇票应注明在本证项下出具，并印上&可按纽约现行卖出汇率支付，费用和利息按现行利率从出票日至汇款大约到达日支付&。

Plunder melds and run with this jewel!

掠夺melds和运行与此宝石！

My dream is to be a crazy growing tree and extend at the edge between the city and the forest.

此刻，也许正是在通往天国的路上，我体验着这白色的晕旋。