第2章 Foreign Exchange Market (1)

走近外汇市场

Foreign Exchange dealings take place on the Foreign Exchange market，they may be subject to Exchange Control. The Foreign Exchange market consists of the exchange dealers of the banks and the exchange brokers. It is made up of two sections： the spot market for spot transactions，and the forward market for forward transactions. Spot transactions are foreign exchange transactions that have to be settled promptly，forward transactions have to be settled on an agreed future date. The price of one currency in terms of another is called the rate of exchange or exchange rate. There are different rates for the different exchange instruments，The rates at which the banks sell foreign exchange (selling rates) are higher than the rates at which they buy (buying rates). Spot transactions are concluded at the spot rate and forward transactions at the forward rate. The forward rate may be higher or lower than，or on the same level as，the spot rate. If the forward rate is above the spot rate，the difference is called the premium，if the forward rate is below the spot rate，the difference is known as a discount. If the forward rate is on the same level as the spot rate，they are known as at par.

在外汇市场上进行外汇交易，可能会受到外汇管制。外汇市场由银行的外汇交易员和经纪人组成，分为两大部分：即期交易市场和远期交易市场。即期交易是指必须立刻进行交割的外汇交易；远期交易必须在双方约定的将来某个日期进行交割。一种货币的价格用另一种货币来表示，叫做汇率。不同的信用工具有不同的汇率，即电汇汇率。即期交易按即期汇率交割，远期交易按远期汇率交割。远期汇率可能会高于、低于或等于银行卖出外汇（卖出汇率）要比买入外汇（买入汇率）的价格要高。如果远期汇率高于即期汇率，其差额叫做升水；如果远期汇率低于即期汇率，其差额叫做贴水。如果远期汇率等于即期汇率，叫做平价。

核心单词

exchange [iks5tFeindV] v. 交换；调换；兑换

broker [5brEukE] n. 经纪人

transaction [trAn5zAkFEn] n. 交易；业务；买卖

rate [reit] n. 比例，率；比率

财经知识一点通

现货交易( spot transaction)

指买卖双方以实物交割为目的的商品交易方式。按其交割时间不同，可分为即期现货交易和远期现货交易。即期现货交易是现买现卖，钱货两讫，即由拥有商品准备立即出售的卖方和拥有货币但想立即得到商品的买方直接见面，即时成交。

升水(Premium)

金银币在销售时，其本金本银部分是按国际价格而确定的，而加工费和利润部分称为升水。升水是指远期汇率高于即期汇率，与贴水对应。在通常情况下，银行报出的升贴水数只报两位或三位数。升贴水数的大小，两个数的排列次序也按升水或贴水而不同。在直接标价法下，小数在前，大数在后，即为升水；在间接标价法下，若是小数在后，大数在前，即为升水。

翻译行不行

Foreign Exchange dealings take place on the Foreign Exchange market，they may be subject to Exchange Control.

It is made up of two sections： the spot market for spot transactions，and the forward market for forward transactions.

The forward rate may be higher or lower than，or on the same level as，the spot rate.

第一章 The Courses that Make You Rich in University

让你致富的8门大学课程

Is it common knowledge that school doesn’t prepare you well for the real world？

Sure，you can get a good degree，find a well-paying job，work until you’re in your 60s，and then retire to enjoy the life you’ve deferred for 40 years. However，that may not prove to be a successful life，a secure life，a financially sound life. A lot will depend on your outlook and your goals but know this： School doesn’t prepare you well for achieving wealth or becoming an entrepreneur and it downright fails at teaching you how to be rich.

Nevertheless，school is here to stay. For now. Thus，it helps to identify which classes are the most relevant and helpful for those of us looking to become rich entrepreneurs. There are，in fact，several courses that contain critical information and instruction that，if used correctly，will put you on your path to riches.

Accounting

Although this list is in no particular order，I think Accounting is，by far，the most important course to take if you want to succeed financially. Today’s “credit crunch”illustrates that there are too many people who do not understand a balance sheet. Someone who walks into Best Buy and pays for a 47-inch plasma television with a credit card does not comprehend the difference between an asset and a liability.

Learning the difference between assets and liabilities，as well as concepts like inventory and cash flow，is essential if you intend on keeping your finances in order. Moreover，these concepts are crucial if you want to start your own business. The health of a business is reflected in its balance sheet and financial statement. As those numbers go，so does the business. Accounting will help you understand that cash flow is what helps a business succeed，and it is what helps you as an individual succeed.

Marketing

If you intend on making money from selling something (which，incidentally，is how any business makes money)，then you need to learn how to find the right product. Marketing，in and of itself，is not selling. However，it helps you learn how to promote certain products and services. By taking Marketing，you can understand the process involved in figuring out what consumers want，focusing on a product that satisfies those desires，and the attempt at moving consumers toward that product.

Too often，products fail because their creators didn’t bother to learn whether a market existed for that product. This process involves research and time，but，in the end，it can save a business thousands，if not millions，of dollars. As an entrepreneur，it can also save you valuable time and money. Find the market first，and then develop the product.

Economics