foreign exchange
foreign exchange
foreign exchange
for′eign exchange′
n.
| Noun | 1. | foreign exchange - the system by which one currency is exchanged for another; enables international transactions to take place |
| 单词 | foreign exchange | |||
| 释义 | foreign exchangeforeign exchangeforeign exchangefor′eign exchange′n.
foreign exchangeforeign exchange,methods and instruments used to adjust the payment of debts between two nations that employ different currency systems. A nation's balance of paymentsbalance of payments,balance between all payments out of a country within a given period and all payments into the country, an outgrowth of the mercantilist theory of balance of trade. ..... Click the link for more information. has an important effect on the exchange rate of its currency. Bills of exchange, drafts, checks, and telegraphic orders are the principal means of payment in international transactions. The rate of exchange is the price in local currency of one unit of foreign currency and is determined by the relative supply and demand of the currencies in the foreign exchange market. Buying or selling foreign currency in order to profit from sudden changes in the rate of exchange is known as arbitrage. The chief demand for foreign exchange within a country comes from importers of foreign goods, purchasers of foreign securities, government agencies purchasing goods and services abroad, and travelers. Exchange rates were traditionally fixed under the gold standard and later by international agreements, but in 1973 the major industrial nations of the West adopted a system of "floating" rates that allowed for fluctuation within a limited range. The currencies of Western nations are generally allowed to fluctuate freely, although central banks will intervene in the foreign exchange markets in an attempt to control excessive or undesirable appreciation or depreciation. BibliographySee S. W. Arndt et al., ed., Exchange Rates, Trade and the U.S. Economy (1985); N. Abuaf and S. Schoess, Foreign-Exchange Exposure Management (1988). foreign exchangeForeign exchangeForeign Exchange MarketForeign exchange (FOREX).Any type of financial instrument that is used to make payments between countries is considered foreign exchange. The list of instruments includes electronic transactions, paper currency, checks, and signed, written orders called bills of exchange. Large-scale currency trading, with minimums of $1 million, is also considered foreign exchange and can be handled as spot price transactions, forward contract transactions, or swap contracts. Spot transactions close at the market price within two days, and the others are set to close at an agreed-upon price and an agreed-upon date in the future. foreign exchangesee FOREIGN CURRENCY.foreign exchangesee FOREIGN CURRENCY.See FOREX foreign exchange
Words related to foreign exchange
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