In practical applications, there are many types of exchange rates. Today, LTG Goldrock will share the other two categories of exchange rates from different angles ~
4. Period exchange rate and long -term exchange rate
Depending on the period of foreign exchange transaction settlement period, the exchange rate can be divided into a period of exchange rates and long -term exchange rates.
The current exchange rate is also called the current exchange rate, that is, after the transactions of foreign exchange trading, the exchange rate used by the buyers and sellers on the same day or within two business days.Generally, the exchange rates listed on the foreign exchange market are specifically indicated that the long -term exchange rate refers to the current exchange rate.The futures exchange rate is the most used exchange rate in the foreign exchange market.In the past, the current foreign exchange transactions were carried out by telephone, telegram, and electricity, so the current exchange rate was also called electric exchange exchange rate.Since the general implementation of the floating exchange rate system in 1973, the exchange rate has changed extremely frequently.In order to accelerate the turnover of funds and avoid the risk of exchange rate changes, import and exporters often adopt a future exchange rate.Banks operating foreign exchange business, in order to balance foreign exchange positions in a timely manner, also adopt a large number of futures exchange rates.
The long -term exchange rate is also called the futures exchange rate. It is a exchange rate that both parties to the foreign exchange trading and sellers are signed by both foreign exchange trading and seller.Long -term foreign exchange trading is an appointment transaction, which is due to the different time required for foreign exchange buyers on foreign exchange funds and to avoid risks of foreign exchange.Changes in long -term exchange rates are affected by changes in monetary interest rates and changes in the supply and demand status of foreign exchange markets.The long -term exchange rate is based on the right -stage exchange rate. It is expressed by the "littering", "sticker" and "affordable" of the "water", "sticker", and "affordable". The difference between the long -term exchange rate and the time exchange rate is called exchange water.
If the long -term exchange rate is higher than the current exchange rate, it means "lift water"; if the long -term exchange rate is lower than the current exchange rate, it means "sticker"; if the long -term exchange rate is equal to the periodic exchange rate, it means "parity".The calculation method of the long -term exchange rate varies depending on the price method of the exchange rate.Under the direct price method, the long -term exchange rate is the periodic exchange rate plus water increase or minusing the water. Under the indirect price method, the period exchange rate is equal to the duration exchange rate to reduce the water raising or add water.
5. Buy exchange rate, sell exchange rate, intermediate exchange rate
Depending on the direction of bank trading foreign exchange, the exchange rate can be divided into buying exchange rates, selling exchange rates and intermediate exchange rates.
Buying exchange rates, also known as buying price, refers to the exchange rate of banks when buying foreign exchange.Under the direct bid method, the price of a small amount of foreign currencies is the price of a small amount of costs. Under the indirect price method, the price of the local currency to a large amount of foreign currency is the purchase price.
The exchange rate, also known as the selling price, refers to the exchange rate when the bank sells foreign exchange.Under the direct price method, the selling price of foreign currencies is more than that; under the indirect price method, the selling price of the local currency is less than that of the foreign currency amount.
For example, USD1 = py80.171-80.183.In the Tokyo foreign exchange market, the direct price method is used. The former 80.171 is the purchase price, and the latter 80.183 is the selling price.In the New York foreign exchange market, the indirect price method is used. The former 80.171 is the selling price, and the latter 80.183 is the purchase price.
The intermediate exchange rate is also called the middle price, that is, the arithmetic average of buying and selling exchange rates, that is,
Intermediate exchange rate = (buy exchange rate+selling exchange rate) ÷ 2
The intermediate exchange rate is mostly used in theoretical analysis and media reports, but the intermediate exchange rate is not the exchange rate of actual transactions in the foreign exchange trading business.
