The
exchange-rate mechanism (in English: Exchange rate) the central element
in the international financial economy, is also considered a pole in
the modern financial thought, and is of extreme importance in the
amendment and the settlement of the balance of payments of the state,
especially those of developing countries.
What is the exchange
Each state has its own currency used in the payment of the Interior, and appear necessary to use currency Foreign When you trade relations or transaction between companies operating within the state with companies operating abroad, and companies need imported into the currency of the exporting country to pay for imported goods, and have thus to Go to exchange market to buy the currency of the exporting country to this process is done, and in fact are not companies that trade with the outside world is just that you need to international currencies, but each person traveling outside the country of residence needs to be the currency in which wish to go even if tourists and finds himself then forced to carry out exchange operations.
Types of exchangeThere are two types of exchange: exchange cash and futures exchange.
Exchange cash
Is the process of delivery and receipt of currency exchange contract moment, and apply the exchange rate prevailing for the moment of conclusion of the contract. The exchange rate changes continuously during the day depending on the currency supply and demand. And there are two prices for the exchange: Price (value in national currency required by the Bank for a particular unit of foreign currency) and the purchase price (value in national currency paid by the bank to you for a specific unit of foreign currency), and the price they sell normally higher than the purchase price.
Quotes intersecting
When exchanging currency in a particular financial center, it may be the price two opposite Bedeihma other currencies is not available and the need to exchange must determine their exchange rate, and is based on the relationship the two currencies in a third currency, called the price calculated in this way intersecting prices.
Different prices in different currencies and financial centers arbitrations
Changing prices of a particular currency against another currency down, this may lead to the emergence of different prices for currency compared to another currency in various financial centers. This difference in the price paid and exchange agents to carry out arbitration between prices in different financial centers, and then swap buy in the financial center where the currency rate is low, and resale in the financial center where the high price of the currency. And benefit agents exchange of price differentials.
View exchange rates
Exchange for
If delivery and receipt of Whitman currencies after a certain period from the date of conclusion of the contract Mtbakan exchange rate prevailing moment of the conclusion of the contract. And used the companies operating in foreign trade this kind of exchange to avoid risks arising from potential fluctuations in currency exchange rates, where the exchange rate prevailing moment of the conclusion of the contract which Sarabv regardless of the exchange rate to the moment of execution of the contract.
Drainage systemsDrainage system knew several developments of the gold standard began and ended the day to the floating system. The Bretton Woods system is based on the U.S. dollar linked to gold. States were linked their currencies at a fixed rate with the dollar. But it soon changed after the announcement by President Nixon in 1971 to prevent the dollar's convertibility into gold. And such a declaration in the eyes of many collapse Bretyon system Woods. It's that time knew the drainage system two major patterns:
Fixed exchange systems
And it is installed currency exchange rate either to a single currency is characterized with certain specifications Kalqoh and stability. And either to a basket of currencies from currencies of key trading partners, currency or constituent unit Special Drawing Rights (SDRs).
Flexible exchange systems
Characterized by its flexibility and usability of the amendment on the basis of certain criteria, such as economic indicators. The state track managed float regime where the authorities to amend their exchange rates based on the frequency level has a reserve of foreign exchange and gold balance of payments. Or use free-floating, which allows for the currency value to change up and down as the market, this system allows the economic liberalization policies of exchange rate restrictions.
Exchange market
Is a convergence place offers and requests various currencies, and which is the identification of the exchange rate of the national currency against other currencies. It is also a container that is where all global deals. The specific exchange markets is important, but is distributed in all financial centers across computer networks, banks and financial institutions.
What is the exchange
Each state has its own currency used in the payment of the Interior, and appear necessary to use currency Foreign When you trade relations or transaction between companies operating within the state with companies operating abroad, and companies need imported into the currency of the exporting country to pay for imported goods, and have thus to Go to exchange market to buy the currency of the exporting country to this process is done, and in fact are not companies that trade with the outside world is just that you need to international currencies, but each person traveling outside the country of residence needs to be the currency in which wish to go even if tourists and finds himself then forced to carry out exchange operations.
Types of exchangeThere are two types of exchange: exchange cash and futures exchange.
Exchange cash
Is the process of delivery and receipt of currency exchange contract moment, and apply the exchange rate prevailing for the moment of conclusion of the contract. The exchange rate changes continuously during the day depending on the currency supply and demand. And there are two prices for the exchange: Price (value in national currency required by the Bank for a particular unit of foreign currency) and the purchase price (value in national currency paid by the bank to you for a specific unit of foreign currency), and the price they sell normally higher than the purchase price.
Quotes intersecting
When exchanging currency in a particular financial center, it may be the price two opposite Bedeihma other currencies is not available and the need to exchange must determine their exchange rate, and is based on the relationship the two currencies in a third currency, called the price calculated in this way intersecting prices.
Different prices in different currencies and financial centers arbitrations
Changing prices of a particular currency against another currency down, this may lead to the emergence of different prices for currency compared to another currency in various financial centers. This difference in the price paid and exchange agents to carry out arbitration between prices in different financial centers, and then swap buy in the financial center where the currency rate is low, and resale in the financial center where the high price of the currency. And benefit agents exchange of price differentials.
View exchange rates
Exchange for
If delivery and receipt of Whitman currencies after a certain period from the date of conclusion of the contract Mtbakan exchange rate prevailing moment of the conclusion of the contract. And used the companies operating in foreign trade this kind of exchange to avoid risks arising from potential fluctuations in currency exchange rates, where the exchange rate prevailing moment of the conclusion of the contract which Sarabv regardless of the exchange rate to the moment of execution of the contract.
Drainage systemsDrainage system knew several developments of the gold standard began and ended the day to the floating system. The Bretton Woods system is based on the U.S. dollar linked to gold. States were linked their currencies at a fixed rate with the dollar. But it soon changed after the announcement by President Nixon in 1971 to prevent the dollar's convertibility into gold. And such a declaration in the eyes of many collapse Bretyon system Woods. It's that time knew the drainage system two major patterns:
Fixed exchange systems
And it is installed currency exchange rate either to a single currency is characterized with certain specifications Kalqoh and stability. And either to a basket of currencies from currencies of key trading partners, currency or constituent unit Special Drawing Rights (SDRs).
Flexible exchange systems
Characterized by its flexibility and usability of the amendment on the basis of certain criteria, such as economic indicators. The state track managed float regime where the authorities to amend their exchange rates based on the frequency level has a reserve of foreign exchange and gold balance of payments. Or use free-floating, which allows for the currency value to change up and down as the market, this system allows the economic liberalization policies of exchange rate restrictions.
Exchange market
Is a convergence place offers and requests various currencies, and which is the identification of the exchange rate of the national currency against other currencies. It is also a container that is where all global deals. The specific exchange markets is important, but is distributed in all financial centers across computer networks, banks and financial institutions.
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