Chapter 6 The Foreign Exchange MarketNew Words and Expressionsforeign exchange market 外汇市场foreign exchange rate 汇率purchasing power 购买力stock market 股票市场gold market 黄金市场future market 期货市场option market 期权市场cross rate 交叉汇率base currency 基础货币quote currency 报价货币bid price 买入价ask price 卖出价basis points 基点US Dollar 美元Japanese Y en 日元Euro 欧元Pound Sterling 英镑Swiss Franc 瑞士法郎Canadian Dollar 加拿大元Australian Dollar 澳大利亚元BackgroundWhat is the foreign exchange market?The foreign exchange market is the market in which currencies are traded. The purpose of the foreign exchange market is to help international trade and investment. For example, it permits a U.S. business to import European goods and pay Euros, even though the business's inc ome is in U.S. dollars.Foreign Exchange Market1、定义(Definition)是指个人、公司、银行买卖外汇的地方。
2、分类(Classification)按买卖双方性质分：外汇零售市场，是指银行与一般客户之间的外汇交易市场。
外汇批发市场，是指商业银行同业之间的交易市场。
外汇干预市场，是指中央银行与商业银行之间的外汇交易市场。
3、外汇市场的功能（Function）1、国际清算(International Clearing)为债务人向债权人进行支付提供了便利。
2 、国际信贷(International Credit)为国际性的资金融通提供了便利。
3 、套期保值(Hedging)为避免和防止外汇风险的发生提供了便利。
4 、外汇投机(Foreign Exchange Speculation)为投机者利用汇率变动赚取利润提供了便利。
Exchange rate1、定义(Definition)汇率是一国货币兑换另一国货币的比率，是以一种货币表示另一种货币的价格。
The exchange rate is the price of one currency in terms of another.2 、标价方法(Quotation)⑴直接标价法(Direct Quotation)是以一定数额外币为标准，折为相应数额本币表示汇率，即本币表示的外币价。
⑵间接标价法(Indirect Quotation)用一定数额本币作为标准，折为相应数额外币表示汇率，即外币表示的本币价。
只有美元和英镑采用这种标价法。
Exchange Rate System1、定义(Definition)是指某国货币当局对本国货币汇率的确定方式和变动机制所作的规定。
2 、基本汇率制度类型⑴固定汇率制(Fixed Rate System)是指两国的货币以法定含金量为基准，比价基本固定的汇率制度。
所谓基本，即允许货币比价的变动限制在一定幅度内。
一国货币当局有义务干预外汇市场，使汇率维持相对稳定。
⑵浮动汇率制(Floating Rate System)指货币当局不再规定金平价及汇率的波动范围，也不再承担维持汇率稳定的义务，本国货币汇率随外汇市场的供求状况自由浮动的制度。
自由浮动(Free Floating)或清洁浮动(Clean Floating)指中央银行不规定官方汇率，且对汇市不采取任何干预措施。
有管理的浮动(Managed Floating)或肮脏浮动(Dirty Floating)中央银行对外汇市场进行一定程度的干预，试图使一定时期内汇价在有限程度内波动。
Different Types of CurrencyUS Dollar美元、Hong Kong Dollar港币、Japanese Y en日元、Euro欧元、Pound Sterling英镑、Singapore Dollar新加坡元、Canadian Dollar加拿大元、Deutsche Mark马克、Swiss Franc瑞士法郎、French Franc法国法郎、Australian Dollar澳大利亚元New Zealand Dollar新西兰元、Belgian Franc比利时法郎、Dutch Guilder荷兰盾、Swedish Krona瑞典克郎、Italian Lira意大利里拉、Comprehension of the T ext1. What is the foreign exchange market?2. What is the foreign exchange rate?3. How many common methods to express a foreign exchange rate?4. How to read a currency quote?课文难句理解But in our world of mainly national currencies, the foreign exchange market plays the indispensable role of providing the essential machinery for making payments across borders, transferring funds and purchasing power from one currency to another, and determining that singularly important price, the exchange rate.但是在我们这个拥有主要国家货币的世界中，外汇市场起着不可或缺的作用，它为跨国界支付结算、将资金和购买力从一种货币转移到另一种货币提供重要的手段,以及决定非常重要的价格——汇率。
Presently, there are various kinds of financial market, it is divided into: Stock market, interest market (including bond, commercial bill and so on), gold market (including gold, platinum, silver), futures market (including grain, cotton and kapok, oil and so on), option market and foreign exchange market or forex market and so on.目前，金融市场有多种类别，具体可以划分为：股票市场，利率市场（包括债券，商业票据等），黄金市场（包括黄金，白金，银），期货市场（包括谷物，棉花，木棉，油等），期权市场和外汇市场等。
A foreign exchange rate is the relative value between two currencies.汇率是两种货币的相对价值。
A foreign exchange rate is generally expressed by way of a whole number integer followed by 4 decimal points like 0.0001.汇率通常表示为整数后带四位小数的一组数字。
To invest in other countries or to buy foreign products, firms and individuals may first need to acquire the currency of the country with which they intend to deal with.为了在其他国家投资或者购买外国产品，公司或个人首先需要取得与之交易的外国货币。
The Forex market itself consists of a worldwide network of primarily interbank traders connected by telephone lines and computers.外汇市场是由通过电话线和电脑连接成的银行间交易者的全球网络构成。
Forex traders constantly negotiate prices between one another and the resulting market bid/ask price for a particular currency is then fed into computers and displayed on official quote screens.外汇交易商不断地商定不同货币之间的价格，并最终影响到某种货币的市场买入价和卖出价，然后将价格输入电脑并呈现在官方的报价板上。
Just like a stock quote, a currency quote is made up of a bid price (or bid) and an ask price (or ask).正如股票报价，货币报价是由买入价和卖出价组成的。
银行英语对话：兑换货币A：clerk B：customerDialogueA：Good morning. Nice to meet you , sir.B：Nice to meet you, too.A：Is there anything I can do for you?B：Can I exchange some money here?A：Certainly. What kind of currency do you want to change?B：Euro, please.（I want to exchange some RMB for Euro）A：What’s the amount you’d like to exchange?B：One thousand Euro. By the way , what’s the exchange rate for Euro?A：It’s RMB10.7 for 1 Euro.B：Oh, I see.A：Please fill in this exchange memo in duplicate, your name and the amount you want to change. B：Here are the notes and the memo.A：Would you mind if I ask your nationality?B：French. I’m from France.A：Will you please show me your passport?B：Y es. Here it is.A：What’s your passport number?B：It’s 12345689A：Thank you. Y our RMB10700 is changed into EUR1000. Here are the notes and also your passport. Please check them.B：The sum is correct. Thank you.A：This is the exchange memo for your reference.B：Thank you very much.A：Y ou are welcome.参考译文：A：您好，见到您很高心B：见到您我也很高兴A：我能帮您什么忙吗?B：我可以在这里兑换钱吗？A：当然可以，您要换那种货币？B：欧元A：好的，您要兑换多少呢？B：1000欧元。