国际金融计算题
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汇率概述
【例】若甲银行的报价为1USD=8.2600/20RMB，则意味着甲银行USD的买入价为
8.2600RMB、卖出价为8.2620RMB。
若乙银行向甲银行购买美元，则对于USD而言，甲银行的卖出价为8.2620RMB，乙银行
的买入价为8.2620RMB，那么，8.2620RMB究竟是买入价呢？还是卖出价？
判断买卖价的关键在于区分谁为报价行，谁为询价行。报价行的买入价为买入价、报价行
的卖出价为卖出价。
在价格上报价行是主动的，而询价行在买卖行为上是自主的。
【例】若甲银行的原报价为1USD=8.2600/20RMB，
（1）现甲银行迫切需要购入大量USD，该如何修改原报价？
使USD的买入价＞8.2600
（2）现甲银行迫切需要抛售大量USD，该如何修改原报价？
使USD的卖出价＜8.2620
（3）现甲银行可利用其某种优势，比原报价在买、卖外汇时可多获得2个点的盈利，则该
如何修改原报价？
1USD=8.2598/8.2622RMB
【例】某日纽约外汇市场上，银行所挂出的日元和英镑的牌价是：
１美元＝138.05－138.15日元 （间接标价法）
１英镑＝1.5870－1.5880美元 （直接标价法）
在日元牌价中，前一个数字为日元的卖出汇率，即银行卖出138.05日元收进1美元，
后一个数字为买入汇率，即银行买入138.15日元付出1美元；
而在英镑牌价中，前一个数字为英镑的买入汇率，即银行买入1英镑付出1.5870美元，
后一个数字为卖出汇率，即银行卖出1英镑收进1.5880美元。
例1如果你向中国银行询问英镑／美元的汇价。中国银行答道：“1.7100／10”。请问：
① 中国银行以什么汇价向你买进美元？ 1.7110
② 你以什么汇价从中国银行买进英镑？ 1.7110
③ 如果你向中国银行卖出英镑，汇率是多少？ 1.7100
例2 如果你是银行，你向客户报出美元／港元汇率为7.8000／10，客户要以港元
向你买进100万美元。请问：
① 你应给客户什么汇价？ 7.8010
② 如果客户以你的上述报价，向你购买了500万美元，卖给你港元。随后，你打电话
给一经纪想买回美元平仓，几家经纪的报价是： 经纪A：7.8030／40 经纪
B：7.8010／20 经纪C：7.7980／90 经纪D：7.7990／98
你该同哪一个经纪交易对你最为有利？汇价是多少？ C 7.7990
交叉汇率的计算
例】银行报价：1USD=98.40/60JPY
1USD=7.8010/20HKD
请问客户用JPY买卖HKD的汇价为多少？
①客户用JPY买入HKD的汇价是：
1HKD = 98.60÷7.8010 = 12.6394JPY②客户卖出HKD的汇价是：
1HKD = 98.40÷7.8020 = 12.6122JPY
【习题】
假设银行的报价为：欧元／美元：1.1250／80
美元／日元：108.40／50
请问：（1）欧元兑日元的买入价和卖出价是多少？
（2）如果客户询问欧元兑日元的套汇价，银行报“121.9498／122.3878”，银行
的报价倾向于买入欧元还是卖出欧元？为什么?
【解】（1）欧元兑日元的买入价：
1EUR=1.1250×108.40=121.9500JPY 欧元兑日元的卖出价：
1EUR=1.1280×108.50=122.3880JPY（2）银行的报价倾向于卖出欧元
外汇交易的传统类型
【例题】：
公司B委托银行A用日元按104.50的汇价购买100万欧元以支付一笔货款，当天早
晨的开盘价为：
美元／日元：102.50／80 ；
美元／欧元：0.9830／60
请问A在什么时候能帮B完成上述交易？
【解】：
1） 开盘时能否成交？
由于开盘价1欧元=104.58日元﹥104.50日元，不能成交。
2） 等待行情变化后再成交
行情的变化有许多种类型：如美元／日元和美元／欧元的汇率一变一不变或同时变；
同时变又有一下一上、一上一下、同上、同下等几种情况。
1) 直接套汇
也称两地套汇，是利用同一时刻两个外汇市场上的汇率差异买卖外汇以赚取利润的行
为。
【例题】：
若伦敦市场英镑/美元为：1GBP=1.5750USD，
同时纽约市场英镑/美元为： 1GBP=1.5700USD，
则对纽约市场上一持有100万美元闲置资金的商人A而言，应如何进行套汇交易才能盈利？
【解】：
商人A应在纽约卖出，伦敦买进。
2) 间接套汇
也称多地套汇，是利用同一时刻三个或三个以上外汇市场的汇率差异买卖外汇以赚取
利润的行为。
【例题】：
若某一时刻三个市场的汇率分别有以下三种情况：
行情Ⅰ 行情Ⅱ 行情Ⅲ
纽约市场(SF/USD) 0.2200 0.2500 0.3000well, with the effectiveness of services to defend the interests of the masses. Third, we should strive to do well. To achieve good practical results, the key is to know the law, to grasp the laws and using laws. Office of economic development, social progress, there are rules to follow. Only act according to the law, to overcome blindness and strengthening initiative, creative. Working in the Office, we should be good at analyzing the essence of things, to find regular thing, change from passive to active, to seek one. Investee 2. establishment of evaluation system. Evaluation system is essentially an incentive mechanism, the evaluation was objective and fair, reasonable, and can stimulate a person's energy, mobilizing people's enthusiasm or be misleading, dampened the enthusiasm of people. At present, the concept of people-oriented people, but to establish and perfect evaluation system is still lagging behind. Work in this area should be seriously caught up. "Three emphasis on" to take advantage of. Is a focus on standards and scientific. A fundamental point of the evaluation criteria, is to keep contact, development, comprehensive eye evaluation of cadres. Office work, both "record" and "potential performance"; both subjective efforts, take another look at the objective condition; both "pragmatic" enough, take another look at the "retreat" level. Second, focus on participating the breadth of the subject. Evaluation of cadres must give full play to democracy, cadres and the masses handing over evaluation. Office work services leadership and service base, serve the people, then nominated the main object will contain a variety of services, so that assessment was accurate and to avoid one-sidedness. Third, pay attention to the seriousness of the conclusion. The use of evaluation findings is mainly embodied in his direction. Permitted to choose one, it would be tantamount to establishing a banner. Evaluation can't take care of the balance, otherwise it would undermine the offset the positive significance of evaluation. Office of the party committees at all levels should take the findings as on the cadres ' bonus-penalty, an important basis for future movements, incentive and restraint effect of making evaluations. 3. Prevention of understanding "infidelity". People-centered development, concrete is dialectical,. In practice in the process, to prevent one-sided and still look, from actual people. One is to use dialectical point of view to understand. Humanist is the core of the scientific Outlook on development, remains the development of the scientific Outlook on development emphasizes, is still taking economic construction as the Center. Any departure from the development of thought and action, is a misinterpretation and misunderstanding of people-oriented. Adhere to people-oriented both to overcome one-sidedness of the old, but also to prevent one-sidedness, not accelerating the development of people and the opposition. Must be very clear, people oriented and speeding up development is not opposed, but consistent, we should never be
