贬值

Dollar remained stable against the yen last week, in addition to a more substantial depreciation, the Australian dollar, Canadian dollar, British pound RMB exchange rate showed a more substantial depreciation of the exchange rate to the sale of Bank of China as an example, the Australian dollar depreciated by selling price of 13.47%.

作为对人民币兑美元保持稳定的结果对日元上周除了更大幅贬值，澳元，加拿大元，英镑兑人民币汇率表现出的更大幅度贬值汇率为例，对中国银行出售，澳元贬值13.47％，销售价格。

However, countries forced to devalue, usually because then are running out of foreign exchange reserves, often express the view that devaluation has a concretionary effect on output and employment rather than an expansionary one.

但是， 国家被迫使贬值，通常因为然后用尽外汇储备，经常表达看法，贬值有对产品和就业的concretionary 作用而不是一扩大性一个。

Unfortunately, that may well prove temporary: first, your stimulus programme, with its reliance on massive credit expansion, may prove unsustainable; second, the decline in China's trade surplus is largely the result of the crisis-induced collapse in world trade; and, third and most important, China has embarked on currency deprecation by locking the renminbi to the falling dollar.

不幸的是，这种缩减很可能只是暂时的：首先，贵国的刺激方案依赖于大规模信贷扩张，可能难以维续；其次，中国贸易顺差的减少，主要是金融危机导致的世界贸易萎缩的结果；最后一点，也是最重要的一点，由于钉住了不断贬值的美元，人民币也在贬值。

A fall in the value of one currency in terms of another currency is called currency depreciation.

一个国家的货币相对于另一个国家的货币的贬值被称作本币贬值。

Under that framework, the effect of a change in real exchange rate on employment is examined. We find that: the real depreciation of home currency will stimulate employment only in the condition of a big consumer's relative risk aversion, namely a small inter temporal substitute elasticity of consumption.

结果发现：只有当消费者对商品消费的相对风险规避程度比较大，即消费的跨期替代弹性比较小时，本币实际贬值才会促进就业的增加，反之贬值会使就业减少。

And on the international side, when we talked about the exchange rate, it's two money, two currency's relationship, when dollar continue to fall, how you can keep rate stable and if you do the big step, you still don't know, if you can get the equilibrant or not.

站在国际的角度来看，我们所探讨的汇率问题，是两种币种间的关系，当美元不断贬值时，你怎样保持汇率稳定？即使你做出调整汇率的重大举措，也还是无法肯定，两方能否达到均衡。可能它暂时均衡了，但过了三四个月或半年，美元又贬值了。

The Turkish lira has fallen by more than 30 percent against the dollar in recent weeks and almost 20 percent against the euro.

土耳其里拉最近数周对美元贬值逾30%，对欧元贬值近20%。

Though when compared with the record of a year or two before, the overall record of world currency depreciations was more moderate; the American dollar in 1977 was depreciating at an annual rate of 6 percent, the French franc of 8.6 percent, the Japanese yen of 9.1 percent, the Swedish krone of percent, the British pound of 14.5 percent, the Italian lira of 15.7 percent, and the Spanish peseta at an annual rate of 17.5 percent.

尽管与一两年前的情况相比，世界通货贬值的总体状况有所缓和，但1977年的贬值率分别是，美元6%，法国法郎8.6%，日元9.1%，瑞典克朗9.5%，英镑14.5%，意大利里拉15.7%，西班牙比塞塔则达17.5%。至于拉美国家，巴西货币单位1977年贬值30.8%，乌拉圭比索35.5%，智利比索53.9%，阿根廷比索则高达65.7%。

So, in economic terms you are a depreciating asset and I am an earning asset.

因此，从经济学的角度讲，我是增值资产，你是贬值资产，不但贬值，而且是加速贬值！

The anticipation that a devaluation might occur may lead financial markets to require higher interest rates, compounding the effects of an overvaluation with high interest rates and possibly forcing a devaluation, even if the government initially had no intention of devaluating.

对贬值可能发生的预期会导致金融市场需要更高的利率，再混合过高估价和高利率的影响，很有可能引发货币贬值，即使政府最初并没有贬值的意思。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了