即期汇率

所以即期汇率就是在即期交易时的汇率，而后者就是在期货交易时的汇率。

So spot rate is for immediate delivery and forward rate is for delivery later .

即期汇率与远期汇率

Spot rate and forward rate

人民币即期汇率与NDF汇率关系的实证分析

Empirical Analysis of the Relationship Between RMB Spot and Non-deliverable Forward ( NDF ) Exchange Rate

下面这张图表显示了12个月期人民币NDF和人民币即期汇率之间的差距。

The chart below shows the gap between 12-month renminbi NDFs and the renminbi spot rate .

纽约市场上美元兑日元的即期汇率对中国A股、H股、红筹股和HS市场有着显著影响。

Spot USD / JY in New York has significant impact on two A shares , H share , Red-Chip , and HS .

通过格兰杰因果检验发现1月期的NDF市场对人民币即期汇率影响显著。

By Granger Causality test the paper suggests that exchange rate in one month NDF market affected the spot exchange rate of RMB significantly .

其次，力图探求人民币NDF汇率与境内即期汇率的相关性及人民币NDF市场的预警机制。

Second , the attempt to explore the territory of the RMB NDF rate and the spot exchange rate and the relevance of the RMB NDF market and early-warning mechanism .

在传导机制方面，境内即期汇率是短期和中期NDF汇率的格兰杰原因，并且与短期NDF汇率存在相互引导的互动关系。

In the conduction mechanism , the territory of the spot exchange rate is the short-term and medium-term exchange rate Granger causes NDF and NDF rate and the existence of short-term to guide the interaction between each other .

在ndf市场，人民币12个月远期汇率周三几乎与即期汇率持平，周二ndf价格则低于即期汇率（正如图表最右端那个微小的红尖所显示的）

In the NDF market , the 12-month forward was on Wednesday trading at virtually the same level , having traded weaker than the spot rate on Tuesday ( as shown by the mini red spike in the chart at the farthest right point . )

中短期（1周、1个月和3个月期限）NDF汇率与境内即期汇率存在长期均衡关系，而中长期（1年、3年和5年期限）NDF则不存在。

In short-term ( 1 week , 1 month and 3-month period ) NDF rate and the spot exchange rate of the territory of the existence of long-run equilibrium relationship , while the medium and long-term ( 1 year , 3-year and 5-year period ) NDF does not exist .

研究结果表明：汇率形成机制改革之后，人民币NDF汇率符合利率平价理论，NDF汇率与境内即期汇率、境内外利率之间开始存在传导关系。

The results show that : the exchange rate formation mechanism reform , the RMB NDF exchange rate in line with the interest rate parity theory , NDF rate and the territory of the spot exchange rate , interest rates inside and outside the relationship between the existence of conduction .

关于即期汇率的诠释美元汇率持续走低；

A Note on Spot Rates of Exchange the American dollar keeps going low ;

离岸人民币非交割远期与境内即期汇率价格的互动：改革前后

PRICE TRACK Interaction between Onshore Spot Rate and Offshore Non-deliverable Forward : Before and After Reform

直接标出的汇率是按升水或贴水的点调整的即期汇率。

The outright rate is the spot rate adjusted by the points of discount or premium .

什么是即期汇率？

What is spot rate ?

人民币美元即期汇率与远期汇率联动关系研究

The Empirical Evidence of the Linkage between the Spot and Forward Exchange Rate between RMB and US Dollar

外币货币性项目，采用资产负债表日即期汇率折算。

The foreign currency monetary items shall be translated at the spot exchange rate on the balance sheet date .

发展中国家外汇期货的推出对即期汇率波动的冲击效应&基于巴西外汇市场的实证分析

Impacts of the Introduction of Foreign Exchange Futures on Spot Exchange Rate : An Empirical Analysis of the Brazilian Experiences

如果远期汇率等于即期汇率，叫做平价。

If the forward rate is on the same level as the spot rate , they are known as at par .

对人民币未来预期因素似乎正在加入到美元日元即期汇率形成机制中并对亚洲外汇市场施加着重要影响。

Evolving expectations about the Renminbi seem to be joining the Dollar / Yen spot rate in exerting an influence on Asian foreign exchange markets .

即期汇率影响进口对国内商品的比较成本和进口国家出口对外国商品的比较成本。

Spot exchange rates influence the relative cost of imports vis-a-vis domestic goods and the relative cost of exports vis-a-vis foreign goods in importing countries .

也就是说，远期汇率定价是否合理直接影响着即期汇率的预期和走势。

It means that whether the price of forward exchange rate is reasonable can affect the expectations and tendency of the spot exchange rate directly .

即使最近的即期汇率走势预示人民币将以更快速度升值，审慎的中国方面也不太可能允许年升值幅度超过4%至5%。

Even if recent spot moves do presage faster appreciation , Chinese caution is unlikely to permit more than 4 to 5 per cent a year .

根据利率平价理论可知，远期汇率是即期汇率的风向标。

From the interest rate parity theory , we know that , the forward rate is the " wind vane " of the spot exchange rate .

以此为标准，对1991年至2001年的即期汇率偏离与经常性项目的关系，进行了弹性分析。

Using it as the standard , the paper conducts elastical analysis on the relation between market exchange rate deviation and current items from 1991 to 2001 .

人民币境内外远期市场的信息优势比较问题，则是讨论二者对人民币即期汇率未来走势的影响力的大小。

The comparative analysis of information superiority of NDF and DF markets aims to discuss their relative abilities to influence the future tendency of spot rate market of RMB .

通过对2005年汇改后数据的实证分析，证明了人民币即期汇率与远期汇率之间存在的相关关系以及它们之间不存在长期均衡（协整）关系。

Through testing the data after 2005 , has proved that RMB spot and forward exchange rate exists the correlativity and do not exist long-term balanced ( co-integration ) relationship .

首先，即使即期汇率海浮动时，远期差额通常保持不变，报升水，或贴水而不是远期汇率，所需变动较少。

First , forward differentials very often remain unchanged even when the spot rates experience fluctuations , quoting premiums or discounts rather than the forward rates thus require fewer changes .

直接标价法下，远期汇率等于即期汇率加升水数或减贴水数。在间接标价法下，远期汇率等于即期汇率减升水数或加贴水数。

The forward rate is obtained by adding the premium to , or subtracting the discount from the spot rate the direct quotation method , or vice verse under the indirect quotation method .

但人们预期的年升值幅度即期汇率与不可交割远期市场上1年期汇率之间的差价仍然维持在略高于区区3%的水平上。

But the expected annual pace of appreciation – shown by the difference between the spot rate and the one-year rate in the non-deliverable forward market – remains only just above 3 per cent .