第二章
1.Balance of payments: The t of accounts recording all flow of value between a nation's residents and the residents of the rest of the world during a period of time.
2.International investment position: Complementing the balance of payments accounts is a balance sheet called the international investment position.
第三章
1.Foreign exchange：Foreign exchange is the act of trading different nations’ moneys.
2.Exchange rate : An exchange rate is the price of one nation’s money in terms of another nation’s money.
3.Spot exchange rate: The spot exchange rate is the price for “immediate” exchange.
4.Forward exchange rate：The forward exchange rate is the price t now for an exchange that will take place sometime in the future.
5.Foreign exchange swap外汇互换: A foreign exchange swap is a package trade that includes both a spot exchange of two currencies and an agreement to the rever forward exchange of the two currencies.
6.Arbitrage: The process of buying and lling to make a (nearly) riskless pure profit.
7.Depreciation: Under the floating-rate system a fall in the market price of a currency.
8.Appreciation: Under the floating-rate system a ri in the market price of a currency.
9.邓梦婷Devaluation : A discrete official reduction in the otherwi fixed par value of a currency.
天空人体艺术10.大学班会主题Revaluation重估: The antonym describing a discrete raising of official par.
第四章
1.Exchange-rate risk : If the value of the person’s income, wealth, or net wealthy changes when exchange rates unpredictably in the future.
金岭西域2.Hedging : Hedging is the act of reducing or eliminating a net ast or net liability position in the foreign currency.
3.Speculating: Speculating is the act of taking a net ast position (“long”) or a net liability position (“short”) in some ast class, here a foreign currency.
4.Forward exchange contact: Forward exchange contact is an agreement to buy or ll a foreign currency for future delivery at a price.
5.Forward exchange rate：It is the exchange rate at which a bank agrees to exchange one currency for another at a future date when it enters into a forward contract with an investor.
6.Currency futures: Currency futures are contracts that are traded on organized exchange, by entering into a currency futures contract, you can effectively lock in the price at which you buy or ll a foreign currency at a t date in the future.
7.Currency option : Currency option gives the buyer (or holder) of the option the right, b
ut not the obligation, to buy foreign currency (a call option) or to ll foreign currency (a put option) at sometime in the future at a price t today.
8.Currency swap: Two parties agree to exchange flows of different currencies during a specified period of time.
9.Covered international investment: Our pound liability in the forward contact matches her pound ast position, so we have hedged her exposure to exchange-rate risk. We have a hedged or covered international investment.
10.Uncovered international investment:三年级的英语 We do not know for sure what this future spot exchange rate will be, so her investment is expod to exchange-rate risk. This unhedged investment has a speculative element to it.
11.Covered interest arbitrage: It is buying a country's currency spot and lling that country's currency forward, to make a net profit from the combination of the difference in interest rates between countries and the forward premium on that country's currency.
12.Covered interest parity:宣誓举手正确姿势图片 Since Keynes we have referred to the condition CD=0 as covered interest parity.
13.Uncovered interest parity: When the expected uncovered differential equals zero（EDU=0）,at least for the average investor, we have a condition called uncovered interest parity.
14.Capital controls: It is restrictions on the ability of financial investors to transfer moneys in or out of the country.
第五章：
1.Purchasing power parity：The concept of purchasing power parity contains our core understanding of the relationship between product prices and exchange rates in the long run.
2.Law of one price: Law of one price posits that a product that is easily and freely traded in a perfectly competitive global market should have the same price everywhere ,once th
e price at different places are expresd in the same currency.
3.Absolute purchasing power parity：Posits that a basket or bundle of tradable products will have the same cost in different countries if the cost is stated in the same currency.盘古开天辟地图片
4.洛神赋图作者是谁Relative purchasing power parity: Posits that the difference between changes over time in product-price levels in two countries will be offt by the change in the exchange rate over this time.
