金融英語——常用詞匯(九十六)

currency 貨幣，通貨

Any form of money that is in public circulation.

在一個經濟體系內流通的金錢，包括硬幣與紙幣。是指流通于市場上的貨幣，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.

是指在一個市場買入一種貨幣，同時在另一個市場上以更高的價格賣出。

currency convertibility 貨幣轉匯能力

The ability to exchange money for gold or other currencies.

貨幣轉換為黃金或其他幣種的能力。

currency fluctuations 貨幣價格波動

Changes in the value of one currency relative to another.

一種貨幣相對于另一種貨幣的價值之變化。

currency forward 貨幣遠期

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

遠期合約鎖定一家機構在未來日期買入或出售貨幣的價格。

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.

是指從事國際貿易的企業為了降低匯率風險，利用國際主要貨幣，如美元、歐元、英鎊來對本幣進行套期保值的期貨合同。

currency hedging 外匯避險

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

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

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

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.

給與持有人在未來日期以特定價格買入或賣出貨幣權力（但非義務）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.

將貨幣風險管理工作外包給專業機構。國際投資組合藉此分割投資經理做出資產分配及證券決策的風險與貨幣風險。

currency risk 通貨風險

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

因匯率的波動而使企業的經營或投資的價值遭到的風險。是指當一國的匯率變動或有外匯管制時所產生的投資風險。

currency selection 貨幣選擇

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

是指投資人進行貨幣投資時在不同國家的貨幣之間進行選擇。

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.

雙方開始時交換特定數量的不同貨幣，從而使初始現金流的一系列利息支付也被交換。是指兩個國家中央銀行之間以短期貸款方式互相供應對方所需外幣的一種方式，或指兩個企業之間的貨幣兌換。

current account 經常賬戶

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.

兩國間經常交易的凈流量，經常交易包括商品、服務、利息支付，是國際收支平衡表的最主要構成部分，在整個國際收支中，經常賬上的交易總額占最大的比例，與一個國家當期經營活動的盛衰和國名所得的高低有密切的關系。