Foreign Exchange

In London, a premium on a foreign exchange rate means ______.

A．the foreign currency is dearer

B．the foreign currency is cheaper

C．the foreign currency is less valuable

D．it has no relevance at all

A、invert

B、extrovert

C、convert

对话理解

听力原文：M: Can I open a foreign currency account and convert my money into a currency which offers the highest interest?

W: Yes, we can arrange that for you, but foreign currency exchange rates are subject to fluctuation and sometimes you will suffer losses.

Q: What does the woman mean?

(11)

A．Interest rate of a foreign currency is much higher.

B．There are risks of losing money sometimes to open a foreign currency account.

C．Foreign currencies exchange rates are relatively stable.

D．It is advisable to open a foreign currency account.

听力原文：In foreign exchange transactions, a forward purchase is an undertaking to buy a particular amount of foreign currency for delivery and settlement of a future date.

(7)

A．A forward transaction is done on a future date.

B．A forward purchase is to buy foreign currency in future.

C．A forward purchase is to buy a foreign currency with settlement on a future date.

D．A forward transaction is to buy a foreign currency on future date.

听力原文：The bank's foreign exchange department has to keep constant track of the positions in the various currencies.

(7)

A．The bank's foreign exchange department has to record the positions in the various currencies.

B．The hank's foreign exchange department has to record the positions in the various currencies.

C．The bank's foreign branches department has to record the various foreign currency liabilities.

D．The bank's foreign branches department has to record the positions in the various currencies.

In order to (56) foreign exchange administration, maintain strong balance of payments position, China (57) the Regulations on Foreign Exchange Administration on January 29,1996. The State Administration of Foreign Exchange is the agency responsible for foreign exchange administration. The SAFE has a similar branch structure with that of the People's Bank of China, China's central bank. The Bank of China (58) the principal foreign exchange bank. Other banks and financial institutions, (59) affiliates of non-resident banks, (60) designed transactions with the approval of the SAFE.

(41)

A．develop

B．improve

C．change

D．conduct

A、No, you can’t. Bank of China is not responsible for exchanging foreign currency.

B、Yes, you can. Bank of China is an authorized foreign exchange bank.

C、No, you can’t. Bank of China is not open on Sundays.

短文理解

听力原文： The Chinese currency is the Renminbi. China has maintained a unified managed floating exchange rate since January 1994. The exchange rate of the Renminbi is determined by the inter-bank foreign exchange market. The People' s Bank of China announces a reference rate for the Renminbi against the US dollar, the Hong Kong dollar, and the Japanese yen based on the weighted average price of foreign exchange transactions during the previous day's trading. Daily movement of the exchange rate of the Renminbi against the US dollar in inter-bank foreign exchange market is limited to 0.3% on either side of the reference rate as announced by the PBC. The buying and selling rates of the Renminbi against the Hong Kong dollar and the Japanese yen may not deviate more than 1% on either side of the reference rate. In the case of other currencies, the deviation may not exceed 0.5% on either side of their respective rates.

21. When did China begin to maintain a unified managed floating exchange rate?

22.Who determines the exchange rate of the Renminbi?

23.What is the deviation allowed on daily movement of the exchange rate of Renminbi against the US dollar?

(21)

A．1992

B．1993

C．1994

D．1995

The term foreign exchange is best defined by the following statement: it is ______.

A．the rate of exchange between two currencies

B．synonymous with currency exchange

C．the place in which foreign currencies are exchanged

D．an instrument such as paper currency, note, and check used to make payments between countries

听力原文：Banks make money in the foreign exchange dealings not on profit margin but on volume.

(8)

A．Banks make money in foreign exchange business because of profit margin.

B．Banks make money from the price spread in the foreign exchange market.

C．Banks make money in foreign exchange business on profit as well as on volume.

D．Banks make money in foreign exchange business because of the great volume.