英语词汇“par of exchange”的英英意思、用法、释义、翻译、读音、例句、短语、词组-英语词典

a. ‘That species of mercantile transactions by which the debts of individuals residing at a distance from their creditors are cancelled without the transmission of money’ (M^cCulloch), by the use of ‘bills of exchange’.

par of exchange: the recognized standard value of the coinage of one country in terms of the coinage of another; e.g. (in 1894) £1 sterling at par = 25.22¹/ ₂ francs French money. course of exchange, rate of exchange (see rate n.¹ 5b) (also simply exchange): (a) the price at which bills drawn in the currency of a foreign country may be purchased; (b) sometimes, the percentage by which this differs from par; e.g. ‘the (rate of) exchange has risen from 9½ to 10 p.c.’ arbitration of exchange: see arbitration n. 3.The simplest case of such a transaction is when two merchants in one place are respectively debtor and creditor for equal amounts to two merchants in a distant place. The two debts may be settled by the two creditors exchanging their claims; the process being that one of the creditors draws a ‘bill of exchange’ on his distant debtor, and sells it to his neighbour for its value in present money; the latter sends it as payment of his debt to his creditor, who thus obtains a claim upon a neighbour in exchange for his claim on a person at a distance. In practice the matter is much more complicated, and the term Bill of Exchange has acquired an extended signification from which the etymological notion has almost disappeared (see bill n.³ 9). By writers on the theory of finance exchange is used for the whole system of transactions effected by ‘bills of exchange’, and is formally divided into Inland and Foreign Exchange. But in practice (except in the term bill of exchange itself) the word now almost exclusively means foreign exchange, and in this use has a mixed notion of sense 3; the price at which a bill drawn on a foreign country for a given amount may be bought being subject to variations, depending (1) on the varying relation in intrinsic value between the coins of the two countries; (2) on the varying demand for bills; and (3) on the length of time for which the bill has to run.Economic writers distinguish between the real par of exchange, which is the relation in intrinsic value existing between the coins of two nations, and the nominal or conventional par, which may for convenience be maintained at a fixed level. When the price that must be paid for a foreign bill exceeds par, the exchange is said to be against, or unfavourable to, the country in which the bill is drawn; when the price is below par, the exchange is in favour of that country.

ΘΚΠ

society > trade and finance > financial dealings > types of money-dealing > [noun] > money-changing > rate of exchange

course of exchange1724

exchange rate1896

1485¹ [see sense 5].

1560 in Harl. Misc. (Malh.) II. 478 By this reformation of base monies..the accoumpte, which, by merchauntes, is called the Eschaunge, shall..aryse in estimation of the monies of Englande.

a1616 W. Shakespeare Taming of Shrew (1623) iv. ii. 90 I haue bils for monie by exchange From Florence, and must heere [at Padua] deliuer them.

a1627 J. Hayward Life & Raigne Edward Sixt (1630) 9 Hee was skilful in the exchange beyond the seas.

1690 J. Child Disc. Trade ix. 147 The course of the Exchange, is generally above the intrinsick value or Par of the Coins of foreign countries, we..lose by such Exchanges.

1692 J. Locke Some Considerations Lowering Interest 180 A Million then being to be returned from England to Holland in Money... This presently makes the Exchange very high.

1695 J. Locke Further Considerations conc. Raising Value of Money 17 Foreign Exchange is the paying of Money in one Country, to receive it in another.

1724 J. Swift Some Observ. Wood's Half-pence 10 This Difference is almost 35 per Cent. which is double to the highest Exchange of Money.

1776 A. Smith Inq. Wealth of Nations II. iv. iii. 307 The ordinary course of exchange might..be a tolerable indication of the ordinary state of debt and credit between [any two places].

1788 T. Jefferson Writings (1859) II. 468 In this paper, you will see the exchange of yesterday.

1861 G. J. Goschen Theory Foreign Exchanges 48 The limits within which the exchanges may vary..are on the one extreme, the par value, plus the cost of the transmission of bullion; on the other extreme, the par value, minus this identical sum.

1861 G. J. Goschen Theory Foreign Exchanges (1864) 75 The natural value of the rouble..would have been..5 per cent. below the nominal par of exchange.

1868 E. Seyd Bullion 394 The actual Mintage Par of Exchange between London and Paris is £1 = fcs. 25·2215..For all practicable purposes, however, we may call the Par of Exchange fcs. 25·22½ centimes.

a. In full par of exchange. The recognized value of the currency of one country in terms of that of another. See exchange n. 4a.mint par: see mint n.¹ Compounds.

ΘΚΠ

society > trade and finance > money > value of money > [noun] > relative value of different currencies

par1601

rate1622

parity1860

agio1875

1601 G. de Malynes Treat. Canker Englands Commonw. i. 15 Hereby shal we find..what quantitie of other monies..we are to haue to counterualue the same in the like weight and finenesse answerable vnto ours.., giuing alwaies value for value, which therefore was called Par.

1622 G. de Malynes Consuetudo 416 The diuersitie of the said Par of Exchanges of thirtie three shillings foure pence for the Low-countreys, and twentie foure shillings nine pence for Hamborough.

1695 J. Locke Further Considerations conc. Raising Value of Money 18 The Par is a certain number of pieces of the Coin of one Country, containing in them an equal quantity of Silver to that in another number of pieces of the Coin of another Country.

1728 E. Chambers Cycl. (at cited word) The Par differs from the Course of Exchange in this, that the Par of Exchange shews what other Nations shou'd allow in Exchange; which is certain and fix'd: But the Course shews what they will allow in Exchange.

1753 J. Hanway Hist. Acct. Brit. Trade Caspian Sea II. xxxv. 218 The par is reckoned 125 Saxon dollars for 100 rix dollars current in Amsterdam.

1838 Penny Cycl. X. 108/2 Between two countries making use of the same metal a par may exist; but between two countries one of which makes use of gold and the other of silver an invariable par cannot exist.

1868 E. Seyd Bullion 394 The actual Mintage Par of Exchange between London and Paris is £1 = fcs. 25·2215... For all practicable purposes, however, we may call the Par of Exchange fcs. 25·22½ centimes.

1995 Summary of World Broadcasts Pt. 2: Central Europe & Balkans (B.B.C.) (Nexis) 28 Sept. EE/W0403/WA The programme has curbed the country's inflation almost to zero by tying the dinar to the German mark on a 1:1 par of exchange backed by foreign currency.

单词	par of exchange
释义	> as lemmas par of exchange a. ‘That species of mercantile transactions by which the debts of individuals residing at a distance from their creditors are cancelled without the transmission of money’ (M^cCulloch), by the use of ‘bills of exchange’. par of exchange: the recognized standard value of the coinage of one country in terms of the coinage of another; e.g. (in 1894) £1 sterling at par = 25.22¹/ ₂ francs French money. course of exchange, rate of exchange (see rate n.¹ 5b) (also simply exchange): (a) the price at which bills drawn in the currency of a foreign country may be purchased; (b) sometimes, the percentage by which this differs from par; e.g. ‘the (rate of) exchange has risen from 9½ to 10 p.c.’ arbitration of exchange: see arbitration n. 3.The simplest case of such a transaction is when two merchants in one place are respectively debtor and creditor for equal amounts to two merchants in a distant place. The two debts may be settled by the two creditors exchanging their claims; the process being that one of the creditors draws a ‘bill of exchange’ on his distant debtor, and sells it to his neighbour for its value in present money; the latter sends it as payment of his debt to his creditor, who thus obtains a claim upon a neighbour in exchange for his claim on a person at a distance. In practice the matter is much more complicated, and the term Bill of Exchange has acquired an extended signification from which the etymological notion has almost disappeared (see bill n.³ 9). By writers on the theory of finance exchange is used for the whole system of transactions effected by ‘bills of exchange’, and is formally divided into Inland and Foreign Exchange. But in practice (except in the term bill of exchange itself) the word now almost exclusively means foreign exchange, and in this use has a mixed notion of sense 3; the price at which a bill drawn on a foreign country for a given amount may be bought being subject to variations, depending (1) on the varying relation in intrinsic value between the coins of the two countries; (2) on the varying demand for bills; and (3) on the length of time for which the bill has to run.Economic writers distinguish between the real par of exchange, which is the relation in intrinsic value existing between the coins of two nations, and the nominal or conventional par, which may for convenience be maintained at a fixed level. When the price that must be paid for a foreign bill exceeds par, the exchange is said to be against, or unfavourable to, the country in which the bill is drawn; when the price is below par, the exchange is in favour of that country. ΘΚΠ society > trade and finance > financial dealings > types of money-dealing > [noun] > money-changing > rate of exchange course of exchange1724 exchange rate1896 1485¹ [see sense 5]. 1560 in Harl. Misc. (Malh.) II. 478 By this reformation of base monies..the accoumpte, which, by merchauntes, is called the Eschaunge, shall..aryse in estimation of the monies of Englande. a1616 W. Shakespeare Taming of Shrew (1623) iv. ii. 90 I haue bils for monie by exchange From Florence, and must heere [at Padua] deliuer them. View more context for this quotation a1627 J. Hayward Life & Raigne Edward Sixt (1630) 9 Hee was skilful in the exchange beyond the seas. 1690 J. Child Disc. Trade ix. 147 The course of the Exchange, is generally above the intrinsick value or Par of the Coins of foreign countries, we..lose by such Exchanges. 1692 J. Locke Some Considerations Lowering Interest 180 A Million then being to be returned from England to Holland in Money... This presently makes the Exchange very high. 1695 J. Locke Further Considerations conc. Raising Value of Money 17 Foreign Exchange is the paying of Money in one Country, to receive it in another. 1724 J. Swift Some Observ. Wood's Half-pence 10 This Difference is almost 35 per Cent. which is double to the highest Exchange of Money. 1776 A. Smith Inq. Wealth of Nations II. iv. iii. 307 The ordinary course of exchange might..be a tolerable indication of the ordinary state of debt and credit between [any two places]. 1788 T. Jefferson Writings (1859) II. 468 In this paper, you will see the exchange of yesterday. 1861 G. J. Goschen Theory Foreign Exchanges 48 The limits within which the exchanges may vary..are on the one extreme, the par value, plus the cost of the transmission of bullion; on the other extreme, the par value, minus this identical sum. 1861 G. J. Goschen Theory Foreign Exchanges (1864) 75 The natural value of the rouble..would have been..5 per cent. below the nominal par of exchange. 1868 E. Seyd Bullion 394 The actual Mintage Par of Exchange between London and Paris is £1 = fcs. 25·2215..For all practicable purposes, however, we may call the Par of Exchange fcs. 25·22½ centimes. extracted from exchangen. par of exchange a. In full par of exchange. The recognized value of the currency of one country in terms of that of another. See exchange n. 4a.mint par: see mint n.¹ Compounds. ΘΚΠ society > trade and finance > money > value of money > [noun] > relative value of different currencies par1601 rate1622 parity1860 agio1875 1601 G. de Malynes Treat. Canker Englands Commonw. i. 15 Hereby shal we find..what quantitie of other monies..we are to haue to counterualue the same in the like weight and finenesse answerable vnto ours.., giuing alwaies value for value, which therefore was called Par. 1622 G. de Malynes Consuetudo 416 The diuersitie of the said Par of Exchanges of thirtie three shillings foure pence for the Low-countreys, and twentie foure shillings nine pence for Hamborough. 1695 J. Locke Further Considerations conc. Raising Value of Money 18 The Par is a certain number of pieces of the Coin of one Country, containing in them an equal quantity of Silver to that in another number of pieces of the Coin of another Country. 1728 E. Chambers Cycl. (at cited word) The Par differs from the Course of Exchange in this, that the Par of Exchange shews what other Nations shou'd allow in Exchange; which is certain and fix'd: But the Course shews what they will allow in Exchange. 1753 J. Hanway Hist. Acct. Brit. Trade Caspian Sea II. xxxv. 218 The par is reckoned 125 Saxon dollars for 100 rix dollars current in Amsterdam. 1838 Penny Cycl. X. 108/2 Between two countries making use of the same metal a par may exist; but between two countries one of which makes use of gold and the other of silver an invariable par cannot exist. 1868 E. Seyd Bullion 394 The actual Mintage Par of Exchange between London and Paris is £1 = fcs. 25·2215... For all practicable purposes, however, we may call the Par of Exchange fcs. 25·22½ centimes. 1995 Summary of World Broadcasts Pt. 2: Central Europe & Balkans (B.B.C.) (Nexis) 28 Sept. EE/W0403/WA The programme has curbed the country's inflation almost to zero by tying the dinar to the German mark on a 1:1 par of exchange backed by foreign currency. extracted from parn.¹ < as lemmas
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