Unit 13 Foreign Exchange Market

Unit13 Foreign Exchange Marketthe Definition of Foreign ExchangeForeign exchange refers to currency and money claims, such as bank balances and bank drafts, which is expressed in the equivalent value in foreign money. Thus, a pound sterling note is money in Great Britain, but is foreign exchange in the U. S. A deposit of $1 000 in an American bank to the account of a French company constitutes that amount of foreign exchange in France. The term foreign exchange is also used to refer to transactions involving the conversion of money of one country into that of another or to the international transfer of money and credit instruments.Foreign Exchange 外汇Foreign exchange refers to currency and money claims, such as bank balances and bank drafts, which is expressed in the equivalent value in foreign money.外汇是指货币以及货币债权，例如：银行往来余额，银行汇票。

which is expressed in the equivalent value in foreign money. 用等价的外国货币形式表现出来的。

Currency：货币money claims：货币债权bank balances：银行往来余额bank drafts：银行汇票equivalent value：价值相等的译文：外汇是指用等价外国货币形式表现出来的货币和货币债权，如银行往来余额和银行汇票。

Thus, a pound sterling note is money in Great Britain, but is foreign exchange in the U. S. 因此1英镑钞票在英国是货币，在美国就是外汇。

A deposit of $1 000 in an American bank to the account of a French company constitutes tha t amount of foreign exchange in France. 存入美国银行的法国公司账户上的1 000美元就成了同样金额的法国外汇。

Deposit in the bankDeposit to the account of sb:存入某帐户The term foreign exchange is also used to refer to transactions involving the conversion of money of one country into that of another or to the international transfer of money and credit instruments. What is the main structure of this sentence?It is: The term foreign exchange is used to refer to transactions and the international transfer. The sentence means that: 外汇一词同样指交易或者国际间的转换。

What kind of transactions? And what kind international transfer?From sentence we can see: transctions involving the conversion of money of one country into that of another , in this sentence: converstion: means 转换conversion…into…:把…转换为…so the sentence means 把一国的货币转换为另一国的货币，into 后面的that 指代money.Then what kind of international transfer? The international transfer of money and credit instruments. 意思是货币与信用票据的国际间的转换。

译文：外汇一词同样用来表示涉及货币从一国向另一国转换的交易或涉及国际间货币和信用票据的转换。

The use of foreign exchange arises because different nations have different monetary units, and the currency of one country can not be used for making payments in another country. Because of trade, travel, and other transactions between individuals and business enterprises of different countries, it becomes necessary to convert money into the currency of other countries in order to pay for goods or services in those countries. The transfer of money values from one country to another and the determination of the price at which the currency of one country will be surrendered for that of another constitute the main problems of foreign exchange.The use of foreign exchange arises because different nations have different monetary units, and the currency of one country can not be used for making payments in another country. 外汇之所以产生是因为不同国家采用不同货币单位，一个国家的货币不能用来在另一国家进行支付。

Arise: （intransitive verb 不及物动词）后面不能接宾语。

出现，产生Several important legal questions arose in the contract negotiations 在合同谈判时出现了几个重要的法律问题Arise from: 由…而产生Can we begin by discussing matters arising from the last meeting? 我们首先来讨论一下上次会议出现的问题，好吗？monetary units,货币单位Because of trade, travel, and other transactions between individuals and business enterprises of different countries, it becomes necessary to convert money into the currency of other countries in order to pay for goods or services in those countries. 由于不同国家之间的私人和公司企业进行贸易、旅游和其他各种交易活动，有必要将一国的货币转换成别国货币以便支付这些国家所提供的商品或服务。

The transfer of money values from one country to another and the determination of the price at which the currency of one country will be surrendered for that of another constitute the main problems of foreign exchange.The sentence tell us the what is the main problems of foreign exchange, 从句子我们可以看到由and 并列的前后两个问题构成了（constitute）外汇的主要问题，and 前面的内容比较好理解，意思是：一国的货币价值转换为另一国的货币价值，and 后面的内容大家也许会觉得很费解，一定是surrender这个单词，影响了大家对这句话的理解，right?Surrender 本义是：give up.the price at which the currency of one country will be surrendered" means "the price at which the currency...will be given up" or"the price at which the currency...will be sold其实be surrendered在这里相当于be sold,只是要比be sold更多了感情色彩，因此：the price at which the currency of one country will be surrendered for that of another：就可以理解为：一个国家的货币被卖给另一个国家的货币的价格，再简洁一点就翻译为：一个国家购买另一个国家的货币的价格。