New Words
foreign adj.
exchange n.
dealing1 n.
subject adj.
control n.
consist vi.
broker2 n.
section n.
spot n.
transaction n.
forward adj.
settle vt.
promptly3 adv.
instrument n.
conclude vt.
difference n.
premium4 n.
discount n.
单词
外国的，外来的
交换, 调换, 兑换
行为, 买卖
受制于...的, 受...影响的
控制, 支配, 管理
由...组成
掮客, 经纪人
部分, 断片, 部件
地址, 场合, 现场
买卖, 事务
是（关于）以后的
解决, 支付
敏捷地, 飞速地
文件；工具
缔结, 议定
差异, 差别, 差额
升水
打折；贴水
Phrases and expressions
foreign exchange market
foreign exchange dealing
consist of
exchange dealer5
exchange broker
spot market
spot transaction
forward market
forward transaction
subject to
exchange control
exchange rate
exchange instrument
T/Ts
cable rate
sight draft
demand rate
selling rate
buying rate
spot rate
forward rate
at par6短语与词组外汇市场
外汇买卖
由组成；由构成
外汇买卖商
外汇掮客
即期市场
即期买卖
远期市场
远期买卖
遵照；服从
外汇管制
外汇汇率
买卖工具
电汇价
电汇比率
即期票据
即期汇率
卖出汇率
买入汇率
现汇汇率
远期汇率
平价Notes
1.Spot transactions are foreign exchange transactions that have to be settled promptly, forward transactions have to be settled on a agreed future date. 即期买卖是指需要立刻进行交割的外汇买卖，远期买卖需要在双方约定的以后某个日期进行交割。
此句中的that have to be settled promptly是定语从句。
have to:to be obliged to; must:被迫：需要：
例：We simply have to get there on time.
大家不能不按时赶到那里
on a agreed future date在双方约定的以后某个日期
agreed是agree的过去分词，做定语，意思是双方约定的；双方赞同的。
2.The price of one currency in terms of another is called rate of exchange or exchange rate. 一种货币的价格用另一种货币来表示，叫做汇率。
in terms of:as measured or indicated by; in units of:用衡量或表示；用的措辞：
例：distances expressed in terms of kilometers as well as miles
用公里和英里来表示距离
3.If the forward rate is above the spot rate, the difference is called premium, if the forward rate is below the spot rate, the difference is known as a discount. 假如远期汇率高于即期汇率，其差额叫做升水；假如远期汇率低于即期汇率，其差额叫做贴水。
forward adj.of, relating to, or done in preparation for the future:预付的，期货的：是（关于）以后的，为以后做筹备的
例：bidding on forward contracts for corn.
为玉米的期货买卖叫价
spot adj.①made, paid, or delivered immediately立即拟定、支付或发送：
例：a spot sale
即时结清的交易
②of, relating to, or being a market in which payment or delivery is immediate现场买卖的：货到时付的或现付的，买卖等当时支付现金的与市场有关的或市场的，在此种市场中现金支付和交割即时进行
例：the spot market in oil.
石油的现场买卖市场
premium n.the amount at which something is valued above its par or nominal8 value, as money or securities溢价：某物高于标准价或票面价的价值，如钱或证券
discount n.①a reduction from the full or standard amount of a price or debt打折：从整个或标准的价格或债款的优惠
②the act or an instance of discounting a bill of exchange, note, or other commercial paper贴现：对期票、钞票或其他商业票据优惠扣的过程或事例
