Foreign Exchange Brokers Foreign exchange brokers are agents who facilitate trading between dealers without themselves becoming principals in the transaction. For this service,they charge a commission. It is a brokers business to know at any moment exactly which dealers want to buy or sell any currency. Dealers use brokers for their speed,and because they want to remain anonymous since the identity of the participants may influence short term quotes. 制卧价贸易大孝
Foreign Exchange Brokers Foreign exchange brokers are agents who facilitate trading between dealers without themselves becoming principals in the transaction. For this service, they charge a commission. It is a brokers business to know at any moment exactly which dealers want to buy or sell any currency. Dealers use brokers for their speed, and because they want to remain anonymous since the identity of the participants may influence short term quotes
Type of Transactions Spot Transactions Quotations a.Direct and Indirect Quotes b.European and American Terms European Terms American Terms Foreign currency price of U.S.dollar price of one U.S.dollar. one unit of foreign currency ￡0.5128/$ $1.950/e Excluding two important exceptions,most interbank quotations around the world are stated in European
Type of Transactions Spot Transactions Quotations a. Direct and Indirect Quotes b. European and American Terms European Terms American Terms Foreign currency price of U.S. dollar price of one U.S. dollar. one unit of foreign currency £0.5128/$ $1.950/ £ Excluding two important exceptions, most interbank quotations around the world are stated in European terms
Spot Rate Quotations Wednesday,January 8,1997 U.S.equiv. EXCHANGE RATES Country We Wed Tues Japan (Yen) .008639 008681 115.75 115.20 The New York foreign exchange selling rates below apply to 30-Day Forward 0086778 008718 115.26 114.71 The direct trading among banks in amounts of $1 million and more,as quoted 90-Day Forward 008750 008791 114.28 113. at 4 p.m.Eastern time by Dow Jones Telerate Inc.and other sources 180.- 00B865 008 07 Retail transactions provide fewer units of foreign currency per Jordan 40 勰 器 dollar. Kuwait (Dinar) 3.3367 3.3389 2997 995 Currency Lebanon (Pound) 0008445 .0006445 1551.50 1551.50 U.S.equiv. per U.S. Malaysia(Ringgit) 4018 .4002 quote for 240R写 74Q00 Country Wed. Wed. Malta (Lira) 2.7624 2.7701 382m Tues 3610 Amentna (Peso】 1.0012 1.0012 Mexico(Peso) Australia(Dollar 7805 7902 12R12 12655 Floating rate 1278 1277 7.8220 7.8330 ustria(S chilling) .09 .0910 11.05 10.988 Netherland (Guilder) 5655 1.7665 1.7547 British Bahrain (Dinar) 2.6525 3770 New Zealand (Dollar) .7072 14140 1.4073 Belgium(Franc】 03080 .03105 32.470 32.205 1540 1548 64026 6.4599 Brazil (Real) 9615 10409 1.0401 an (R pee) .02529 .02529 39.540 39.540 Britain (Pound) 1.6880 16946 5924 5901 Peru (new Sol) 3814 26218 2.6039 30-Day Forward 1.6935 0g 5905 Philippines (Peso) .03800 .03802 26.318 26.300 90-Day Forward 1.6843 图10 .5937 5914 Poland (Zloty） pound is: 3460 3475 28900 2878D 180-Day Forward 16802 1.6867 5952 5929 Portugal (Escudo) 008307 .006369 158.55 157.02 Canada(Dollar) 7399 7370 13516 13568 0001787 5595.00 30-Day Forward 7414 7386 1.3488 1.3539 61 37503 90-Day Forward 7442 7413 1247 13489 71 4053 1.4037 180-Day Forward 7479 450 .3370 3422 03258 03259 30.688 3068地 Chile(Peso) .002352 002356 424.40 Sout Alnca (and 2141 2142 42525 4.6705 4R6Q0 ￡1=$1.688 China (Renminbi) 1201 001104 A447写 844.65 .1201 8.3272 8.3276 South Korea (Won) 001184 .0009985 .0009985 1001.50 1001.50 Spain (Peseta) 007546 007603 131.53 Czech.Rep Sweden (Krona) 1431 .1435 6g Commercial rate .03662 03677 27.307 Switzerland (Franc) 34 7387 1.3635 .353 Denmark(Krone) .1663 .1677 6.0118 7357 7411 13593 13404 Ecuador(Sucre) 7401 7454 13511 1341含 0002766 .0002787 3615.00 3587.50 180-D Forward 2121 4.6841 Taiwan(D a 27.489 7.493 France(Franc) Thailand (Baht) 03902 .03906 25.625 25.605 30-Day Forward 5.3126 2274 UniteAra (Dirhan间 00000911 .00000915109755.00 109235.00 90-Day Forward 1889 .1903 5.2935 5.2558 .2723 .2723 3.6720 3.6720 180-Day Forward 1901 1914 5.2617 5.2243 Uruguay(New Peso) Germany(Mark) 04 1.5744 1.5639 Financ 1145 1145 87300 8.7300 30-0ay Forward 636 407 1.5714 1.5607 Venezuela (Bolivar) 002098 .002096 476.70 477.12 90-Day Forward 6389 585 180-Day Forward 6430 1.5552 SDR 1.4315 1.4326 6986 .6980 Greece (Drachma) .004049 004068 246.98 245.80 ECU 1.2404 .) 1202 .1292 7.7390 77300 006139 00164 16289 12 Special Drawing Rights(SDR)are based on exchange rates for pa可 02787 0278 35.875 5.89m the U.S..German,British,French,and Japanese currencies.Source: 0004233 0004233 2362.15 2362.63 International Monetary Fund. Ireland (Punt) 1.6664 1.6714 .6001 5983 European Currency Unit(ECU)is based on a basket of community srael(Shekel) 3079 3085 32474 32412 Italy (Lira) 0006483 .0008510 1542.50 1536.00 a-fixing.Moscow Interbank Currency Exchange. 制卧价贸易上考
The New York foreign exchange selling rates below apply to trading among banks in amounts of $1 million and more, as quoted at 4 p.m. Eastern time by Dow Jones Telerate Inc. and other sources. Retail transactions provide fewer units of foreign currency per dollar. Special Drawing Rights (SDR) are based on exchange rates for the U.S., German, British, French, and Japanese currencies. Source: International Monetary Fund. European Currency Unit (ECU) is based on a basket of community currencies. a-fixing, Moscow Interbank Currency Exchange. EXCHANGE RATES Country Argentina (Peso) Australia (Dollar) Austria (Schilling) Bahrain (Dinar) Belgium (Franc) Brazil (Real) Britain (Pound) 30-Day Forward 90-Day Forward 180-Day Forward Canada (Dollar) 30-Day Forward 90-Day Forward 180-Day Forward Chile (Peso) China (Renminbi) Colombia (Peso) Czech. Rep (Krouna) Commercial rate Denmark (Krone) Ecuador (Sucre) Floating rate Finland (Markka) France (Franc) 30-Day Forward 90-Day Forward 180-Day Forward Germany (Mark) 30-Day Forward 90-Day Forward 180-Day Forward Greece (Drachma) Hong Kong (Dollar) Hungary (Forint) India (Rupee) Indonesia (Rupiah) Ireland (Punt) Israel (Shekel) Italy (Lira) Wed. 1.0012 .7805 .09043 2.6525 .03080 .9607 1.6880 1.6869 1.6843 1.6802 .7399 .7414 .7442 .7479 .002352 .1201 .0009985 .... .03662 .1663 .... .0002766 .2121 .1879 .1882 .1889 .1901 .6352 .6364 .6389 .6430 .004049 .1292 .006139 .02787 .0004233 1.6664 .3079 .0006483 Tues. 1.0012 .7902 .09101 2.6525 .03105 .9615 1.6946 1.6935 1.6910 1.6867 .7370 .7386 .7413 .7450 .002356 .1201 .0009985 .... .03677 .1677 .... .0002787 .2135 .1893 .1896 .1903 .1914 .6394 .6407 .6432 .6472 .004068 .1292 .006164 .02786 .0004233 1.6714 .3085 .0006510 Wed. .9988 1.2812 11.058 .3770 32.470 1.0409 .5924 .5928 .5937 .5952 1.3516 1.3488 1.3437 1.3370 425.25 8.3272 1001.50 .... 27.307 6.0118 .... 3615.00 4.7150 5.3220 5.3126 5.2935 5.2617 1.5744 1.5714 1.5652 1.5552 246.98 7.7390 162.89 35.875 2362.15 .6001 3.2474 1542.50 Tues. .9988 1.2655 10.988 .3770 32.205 1.0401 .5901 .5905 .5914 .5929 1.3568 1.3539 1.3489 1.3422 424.40 8.3276 1001.50 .... 27.194 5.9633 .... 3587.50 4.6841 5.2838 5.2741 5.2558 5.2243 1.5639 1.5607 1.5547 1.5450 245.80 7.7390 162.23 35.890 2362.63 .5983 3.2412 1536.00 U.S. $ equiv. per U.S. $ Currency Country Japan (Yen) 30-Day Forward 90-Day Forward 180-Day Forward Jordan (Dinar) Kuwait (Dinar) Lebanon (Pound) Malaysia (Ringgit) Malta (Lira) Mexico (Peso) Floating rate Netherland (Guilder) New Zealand (Dollar) Norway (Krone) Pakistan (Rupee) Peru (new Sol) Philippines (Peso) Poland (Zloty) Portugal (Escudo) Russia (Ruble) (a) Saudi Arabia (Riyal) Singapore (Dollar) Slovak Rep. (Koruna) South Africa (Rand) South Korea (Won) Spain (Peseta) Sweden (Krona) Switzerland (Franc) 30-Day Forward 90-Day Forward 180-Day Forward Taiwan (Dollar) Thailand (Baht) Turkey (Lira) United Arab (Dirham) Uruguay (New Peso) Financial Venezuela (Bolivar) SDR ECU Wed. .008639 .008676 .008750 .008865 1.4075 3.3367 .0006445 .4018 2.7624 .... .1278 .5655 .7072 .1540 .02529 .3814 .03800 .3460 .006307 .0001787 .2666 .7116 .03259 .2141 .001184 .007546 .1431 .7334 .7357 .7401 .7470 .03638 .03902 .00000911 .2723 .... .1145 .002098 - - - 1.4315 1.2308 Tues. .008681 .008718 .008791 .008907 1.4075 3.3389 .0006445 .4002 2.7701 .... .1277 .5699 .7106 .1548 .02529 .3840 .03802 .3475 .006369 .0001788 .2667 .7124 .03259 .2142 .001184 .007603 .1435 .7387 .7411 .7454 .7523 .03637 .03906 .00000915 .2723 .... .1145 .002096 1.4326 1.2404 Wed. 115.75 115.26 114.28 112.80 .7105 .2997 1551.50 2.4885 .3620 .... 7.8220 1.7685 1.4140 6.4926 39.540 2.6218 26.318 2.8900 158.55 5595.00 3.7503 1.4053 30.688 4.6705 844.75 132.52 6.9865 1.3635 1.3593 1.3511 1.3386 27.489 25.625 109755.00 3.6720 .... 8.7300 476.70 .6986 .......... Tues. 115.20 114.71 113.76 112.28 .7105 .2995 1551.50 2.4990 .3610 .... 7.8330 1.7547 1.4073 6.4599 39.540 2.6039 26.300 2.8780 157.02 5594.00 3.7502 1.4037 30.688 4.6690 844.65 131.53 6.9697 1.3537 1.3494 1.3416 1.3293 27.493 25.605 109235.00 3.6720 .... 8.7300 477.12 .6980 ........... U.S. $ equiv. Currency Wednesday, January 8, 1997 per U.S. $ Spot Rate Quotations The direct quote for British pound is: £1 = $1.688
Spot Rate Quotations W Currenc per U EXCHANGE RA Countr Japan (Y .008639 008681 115.75 115.20 30-Da 0086778 008718 11526 114.71 The indirect 90-Da 008750 008791 114.28 113.76 at 4p 180-Da 00886 008907 112.80 Retail tr 73 40 dollar 3.33 3.3389 2997 2995 ednesdaTES S.Lebanon (P 0006445 .0006445 1551.50 1551.50 ed 台 740R写 24Q00 quote for Counts in amount1 million. per U 4018 .4002 Malta (Lir .7624 2.7701 382n 3610 Ar und) .9988 Me .2812 12655 1278 1277 7.8220 7.8330 10.988 Netherland (Guilder) 5655 1.7665 1.7547 British 3770 14140 3770 Ne 7072 1.4073 eso32.470 an 80 32205 Norwa 1540 1548 6.4926 Belgium 6.4599 日razi (R 0409 1.0401 02529 02529 39.540 39540 Britain 16946e45924 5901 3814 26218 2.6039 30-Da Philippines (P .03800 .03802 26.318 26.300 90-Da B 3460 3475 2.8900 2.8780 pound is: 180-e% .02 nd.5952 5929 003307 006369 158.55 157.02 Canada (Do 7399 730 13516 13568 001787 0001788 5595.00 30-Da 7414 1.348B 12530 ia(Riy 3.7503 58删 90-Da H篮ab 147 71 7124 403 1.4037 180-Da 7479 ela1.3370 Slo .03259 03259 .00 30.688 301.688 Chile (P 002352 425.25 424.40 South Africa(Rand) 2141 2142 4.6705 4.6690 China(Re .1201 1201a 8.3272 8.3276 South K 001184 001184 447 844.65 ￡.5924=$1 Colombia 000g985 1001.50 Spain(P 007546 007603 132.52 1312 Cz e mnSweden (Krona) 1431 .1435 6.9865 9697 Commer .03662 03677 aBAtz 34 7387 1.3635 .353 Denmark (Krone) .1663 .16 6.0118 5.9633 30-Da 7357 7411 13593 13404 Ecuador(Sucre)】 90-Da 7401 7454 13511 13418 0002766 0002787 3615.00 3587.50 180-Da Finland (Mar 2121 4.7150 4.6841 27.489 France(F 187 1893 5.3220 Thailand(Baht) .03902 .03906 25.625 25.605 109235.00 30-Da 1882 1896 5.3126 4 00000911 .00000915109755.00 90-Da .188g .1903 52935 52558 United .2723 .2723 3.6720 3.6720 180-Da .1901 .1914 5.2617 5.2243 Urugua 204 1.5744 1.5639 上1 nanoal 1145 1145 8.7300 8.7300 6407 1.5714 16n7 002098 002096 476.70 477.12 90-Da 6389 .5652 59 180-Da 6430 .6472 1.5552 50 SDR 1.4315 1.4326 6986 .6980 Greece(Dr 004049 004068 246.98 245.80 ECU 2404 1292 .1292 77300 7.7390 00613g 006164 162.89 162 23 Special Dr India (Rupee) 02787 0278 35.875 90 the U Indonesia(Rupiah) .0004233 0004233 2362.15 2362.63 Int Ireland (Punt) 1.6664 1.6714 .6001 5983 European Currency Unit(ECU)is based on a bask srael(Shek .3079 3085 32474 3.2412 Ital .0006483 0008510 1542.50 1536.00 Mosco 制卧价贸易上考
The Ne w York f oreign e xchange selling r w apply to ates belo tr ading among banks in amounts of $1 million and more , as quoted at 4 p .m. Easter n time b ate Inc. eler w Jones and other sources y Do T . Retail tr ansactions pro vide f w e er units of f oreign currency per dollar . Special Dr a wing Rights (SDR) are based on e xchange r ates f or the U .S ., Ger man, Br itish, F Source: rench, and J apanese currencies . Inter national Monetar y Fund. European Currency Unit (ECU) is based on a bask et of comm unity currencies . a-fixing, Mosco w Interbank Currency Exchange . EXCHANGE RA TES Countr y Ar g entina (Peso) A ustralia A ustria (Dollar) (Schilling) Bahrain (Dinar) Belgium (Franc) Brazil (Real) Britain (P ound) 30-Da y F orward 90-Da y F orw ard 180-Da y F orw ard Canada (Dollar) 30-Da y F orw ard 90-Da y F orw ard 180-Da y F orw ard Chile (P eso) China (Renminbi) Colombia (P eso) Cz ec h. Rep (Krouna) Commercial r ate Denmark (Krone) Ecuador (Sucre) Floating r ate Finland (Mar kka) France (F r anc) 30-Da y F orw ard 90-Da y F orw ard 180-Da y F orw ard German y (Mar k) 30-Da y F orw ard 90-Da y F orw ard 180-Da y F orw ard Greece (Dr achma) Hong K ong (Dollar) Hungar y (F or int) India (Rupee) Indonesia (Rupiah) Ireland (Punt) Israel (Shek el) Ital y (Lir a) W ed . 1.0012 .7805 .09043 2.6525 .03080 .9607 1.6880 1.6869 1.6843 1.6802 .7399 .7414 .7442 .7479 .002352 .1201 .0009985 .... .03662 .1663 .... .0002766 .2121 .1879 .1882 .1889 .1901 .6352 .6364 .6389 .6430 .004049 .1292 .006139 .02787 .0004233 1.6664 .3079 .0006483 T ues. 1.0012 .7902 .09101 2.6525 .03105 .9615 1.6946 1.6935 1.6910 1.6867 .7370 .7386 .7413 .7450 .002356 .1201 .0009985 .... .03677 .1677 .... .0002787 .2135 .1893 .1896 .1903 .1914 .6394 .6407 .6432 .6472 .004068 .1292 .006164 .02786 .0004233 1.6714 .3085 .0006510 W ed. .9988 1.2812 1 1.058 .3770 32.470 1.0409 .5924 .5928 .5937 .5952 1.3516 1.3488 1.3437 1.3370 425.25 8.3272 1001.50 .... 27.307 6.0118 .... 3615.00 4.7150 5.3220 5.3126 5.2935 5.2617 1.5744 1.5714 1.5652 1.5552 246.98 7.7390 162.89 35.875 2362.15 .6001 3.2474 1542.50 T ues. .9988 1.2655 10.988 .3770 32.205 1.0401 .5901 .5905 .5914 .5929 1.3568 1.3539 1.3489 1.3422 424.40 8.3276 1001.50 .... 27.194 5.9633 .... 3587.50 4.6841 5.2838 5.2741 5.2558 5.2243 1.5639 1.5607 1.5547 1.5450 245.80 7.7390 162.23 35.890 2362.63 .5983 3.2412 1536.00 U .S. $ equiv . per U .S. $ Currenc y Countr y Japan (Y en) 30-Da y F orw ard 90-Da y F orw ard 180-Da y F orw ard Jor dan (Dinar) K uwait (Dinar) Lebanon (P ound) Mala ysia (Ringgit) Malta (Lir a) Me xico eso) (P Floating r ate Netherland (Guilder) (Dollar) w Zealand Ne Norwa (Krone) y P akistan (Rupee) P eru w Sol) (ne Philippines (P eso) P oland (Zloty) P or tugal (Escudo) Russia (Rub le) (a) Saudi Arabia (Riy al) Singapore (Dollar) Slo v ak Rep . una) or (K South Africa (Rand) South K orea (W on) Spain (P eseta) Sweden (Krona) Switz erland (F r anc) 30-Da y F orw ard 90-Da y F orw ard 180-Da y F orw ard T aiwan (Dollar) Thailand (Baht) T urke y (Lir a) United Arab (Dirham) Urugua y (Ne w P eso) Financial V enezuela (Boliv ar) SDR ECU W ed. .008639 .008676 .008750 .008865 1.4075 3.3367 .0006445 .4018 2.7624 .... .1278 .5655 .7072 .1540 .02529 .3814 .03800 .3460 .006307 .0001787 .2666 .7116 .03259 .2141 .001184 .007546 .1431 .7334 .7357 .7401 .7470 .03638 .03902 .00000911 .2723 .... .1145 .002098 - - - 1.4315 1.2308 T ues. .008681 .008718 .008791 .008907 1.4075 3.3389 .0006445 .4002 2.7701 .... .1277 .5699 .7106 .1548 .02529 .3840 .03802 .3475 .006369 .0001788 .2667 .7124 .03259 .2142 .001184 .007603 .1435 .7387 .7411 .7454 .7523 .03637 .03906 .00000915 .2723 .... .1145 .002096 1.4326 1.2404 W ed. 115.75 115.26 114.28 112.80 .7105 .2997 1551.50 2.4885 .3620 .... 7.8220 1.7685 1.4140 6.4926 39.540 2.6218 26.318 2.8900 158.55 5595.00 3.7503 1.4053 30.688 4.6705 844.75 132.52 6.9865 1.3635 1.3593 1.3511 1.3386 27.489 25.625 109755.00 3.6720 .... 8.7300 476.70 .6986 .......... T ues. 115.20 114.71 113.76 112.28 .7105 .2995 1551.50 2.4990 .3610 .... 7.8330 1.7547 1.4073 6.4599 39.540 2.6039 26.300 2.8780 157.02 5594.00 3.7502 1.4037 30.688 4.6690 844.65 131.53 6.9697 1.3537 1.3494 1.3416 1.3293 27.493 25.605 109235.00 3.6720 .... 8.7300 477.12 .6980 ........... U .S. $ equiv . Currenc y per U .S. $ W ednesda y , J uar any 8, 1997 Spot Rate Quotations The indirect quote for British pound is: £.5924 = $1