金融英語(yǔ)——常用詞匯(九十六)

currency 貨幣，通貨

Any form of money that is in public circulation.

在一個(gè)經(jīng)濟(jì)體系內(nèi)流通的金錢(qián)，包括硬幣與紙幣。是指流通于市場(chǎng)上的貨幣，包括鈔票以及能夠代替貨幣流通與支付職能的支付工具。例如，匯票、本票、支票等。

currency arbitrage 貨幣套利

Taking advantage of divergences in exchange rates in different money markets by buying a currency in one market and selling it in another market.

是指在一個(gè)市場(chǎng)買(mǎi)入一種貨幣，同時(shí)在另一個(gè)市場(chǎng)上以更高的價(jià)格賣(mài)出。

currency convertibility 貨幣轉(zhuǎn)匯能力

The ability to exchange money for gold or other currencies.

貨幣轉(zhuǎn)換為黃金或其他幣種的能力。

currency fluctuations 貨幣價(jià)格波動(dòng)

Changes in the value of one currency relative to another.

一種貨幣相對(duì)于另一種貨幣的價(jià)值之變化。

currency forward 貨幣遠(yuǎn)期

A forward contract that locks-in the price an entity can buy or sell currency on a future date.

遠(yuǎn)期合約鎖定一家機(jī)構(gòu)在未來(lái)日期買(mǎi)入或出售貨幣的價(jià)格。

currency futures 貨幣期貨

Currency futures contract . Standardized agreement to sell or buy a specific amount of a currency at a particular price on a stipulated future date.

是指從事國(guó)際貿(mào)易的企業(yè)為了降低匯率風(fēng)險(xiǎn)，利用國(guó)際主要貨幣，如美元、歐元、英鎊來(lái)對(duì)本幣進(jìn)行套期保值的期貨合同。

currency hedging 外匯避險(xiǎn)

Applies mainly to international equities. Hedging technique to guard against foreign exchange fluctuations.

外匯避險(xiǎn)的效果取決于境外資產(chǎn)在投資組合中的比例，境外資產(chǎn)比例高，則外匯避險(xiǎn)的作用明顯(避險(xiǎn)的好處大于避險(xiǎn)的成本)。

currency in circulation 通貨

Paper money, coins, and demand deposits that constitute all the money circulating in the economy.

是指廣泛用于日常交易的紙幣和硬幣。

currency option 貨幣期權(quán)

A contract that grants the holder the right, but not the obligation, to buy or sell currency at a specified price during a specified period of time.

給與持有人在未來(lái)日期以特定價(jià)格買(mǎi)入或賣(mài)出貨幣權(quán)力（但非義務(wù)）的合約。

currency overlay 貨幣管理外包

The outsourcing of currency risk management to a specialist firm, known as the overlay manager. This is used in international investment portfolios to separate the management of currency risk from the asset allocation and security selection decisions of the investor's money managers.

將貨幣風(fēng)險(xiǎn)管理工作外包給專(zhuān)業(yè)機(jī)構(gòu)。國(guó)際投資組合藉此分割投資經(jīng)理做出資產(chǎn)分配及證券決策的風(fēng)險(xiǎn)與貨幣風(fēng)險(xiǎn)。

currency risk 通貨風(fēng)險(xiǎn)

The risk that a business' operations or an investment's value will be affected by changes in exchange rates.

因匯率的波動(dòng)而使企業(yè)的經(jīng)營(yíng)或投資的價(jià)值遭到的風(fēng)險(xiǎn)。是指當(dāng)一國(guó)的匯率變動(dòng)或有外匯管制時(shí)所產(chǎn)生的投資風(fēng)險(xiǎn)。

currency selection 貨幣選擇

Asset allocation in which the investor chooses among investments denominated in different currencies.

是指投資人進(jìn)行貨幣投資時(shí)在不同國(guó)家的貨幣之間進(jìn)行選擇。

currency swap 貨幣掉期

An arrangement in which two parties exchange specific amounts of different currencies initially, and a series of interest payments on the initial cash flows are exchanged.

雙方開(kāi)始時(shí)交換特定數(shù)量的不同貨幣，從而使初始現(xiàn)金流的一系列利息支付也被交換。是指兩個(gè)國(guó)家中央銀行之間以短期貸款方式互相供應(yīng)對(duì)方所需外幣的一種方式，或指兩個(gè)企業(yè)之間的貨幣兌換。

current account 經(jīng)常賬戶(hù)

The net flow of current transactions, including goods, services, and interest payments, between countries. The difference between a nation's total exports of goods, services, and transfers, and its total imports of them. Current account balance calculations exclude transactions in financial assets and liabilities.

兩國(guó)間經(jīng)常交易的凈流量，經(jīng)常交易包括商品、服務(wù)、利息支付，是國(guó)際收支平衡表的最主要構(gòu)成部分，在整個(gè)國(guó)際收支中，經(jīng)常賬上的交易總額占最大的比例，與一個(gè)國(guó)家當(dāng)期經(jīng)營(yíng)活動(dòng)的盛衰和國(guó)名所得的高低有密切的關(guān)系。