金融英語口語 25.Currency Option 1

[00:00.00]New Words [00:00.89]新單詞 [00:01.78]challenge v. [00:02.43]引起，要求 [00:03.08]eliminate v. [00:03.71]消除，抵消 [00:04.34]adverse adj. [00:04.88]不利的 [00:05.43]premium n. [00:06.05]保險金 [00:06.66]confirmation n. [00:07.48]確認書 [00:08.31]Phrases & Expressions [00:10.24]read one's mind [00:11.18]看出某人的心思 [00:12.12]sort out [00:12.81]把...分類，把...整理 [00:13.51]more or less [00:14.33]或多或少 [00:15.15]run a risk [00:16.01]冒險 [00:16.88]lose one's patience [00:18.12]失去耐心 [00:19.36]Z:How are you, Mr. Steward? We haven't seen each other for a whole week. [00:21.37]張：您好，斯特沃先生。一周末見了，近來好吧? [00:23.38]S:I'm fine. Yes, time is flying by. How are you, Zhang Jun? [00:25.78]斯：很好,時間過得真快呀!近來你也挺好吧? [00:28.19]Z:Not bad. [00:28.59]張：還行。 [00:29.00]S:Really? I'm afraid you have got a lot more questions to challenge me again. [00:31.35]斯：真的嗎?恐怕這次你來，又有一大堆問題等著我呢! [00:33.70]S, Z:Ha-ha... (laughing) [00:34.63]斯與張：哈-哈(一起笑起來) [00:35.55]Z:Yes, you are reading my mind. Last time when I went back to my dormitory, [00:38.28]張：是啊，你可真清楚我是怎么想的。上次我回到宿舍， [00:41.01]I made an effort to sort out the information you provided. [00:42.84]把您講的一大堆內(nèi)容整理了一下， [00:44.67]I was still a bit confused. [00:45.56]發(fā)現(xiàn)還有一些弄不明白。 [00:46.45]S:Yes? What exactly bothered you? [00:47.93]斯：是些什么問題呢? [00:49.42]Z:As you said the forward market of foreign exchange is very helpful for companies of foreign trade to avoid possible loss. [00:53.13]張：您說過，期貨外匯交易可以使外貿(mào)公司避免一些可能的損失。 [00:56.84]S:Yes, that's true. [00:57.53]斯：是的。 [00:58.23]Z:But, how about... you see... [00:59.69]張：但，是怎樣來避免的呢?您想... [01:01.15]S:You can give me an example to illustrate your disagreement. [01:02.93]斯：你可以給我一個實例，來講清楚你的不同意見。 [01:04.71]Z:For instance, a German company knows that it will need an amount of US dollars in three weeks to pay for imports of facility from the United States of America. [01:11.03]張：比如說，某一德國公司從美國進口一批設(shè)備，需要在三周內(nèi)用美元支付。 [01:17.35]As you said, they can buy the dollars forward to reduce or eliminate the risk of an adverse movement in exchange rates between the Deutsch mark and the US dollar. [01:23.04]您說過，這家公司可以作外匯期貨交易購買美元，以降低甚至抵消德國馬克與美元之間匯率的不利變化而產(chǎn)生的風險。 [01:28.74]But exchange rates are changing. [01:30.20]但是，匯率在不斷地波動著。 [01:31.66]Maybe, there will be a favorable movement in exchange rates between Deutschmark and the US dollar. [01:34.75]也許，德國馬克與美元的匯率有可能產(chǎn)生有利的變化。 [01:37.83]Then, why can't the company wait for three weeks to buy the dollars at the spot rate? [01:40.28]那么為何該公司不可以等到三周后再來作即期交易購買美元呢? [01:42.74]S:You are realy smart, Zhang Jun. Let me tell you, that's just the original idea of currency options. [01:46.61]斯：張軍，你的分析真是頭頭是道。我現(xiàn)在告訴你，那只是所謂外匯期權(quán)的本來意義， [01:50.47]Z:Currency options? I have never heard of this term. Would you please give me more detailed information about it? [01:54.13]張:外匯期權(quán)?這個名詞我從未聽說過.您能否詳細地解釋一 [01:57.79]S:Sure. What I told you last Saturday is not wrong. [01:59.80]斯：好的。上周我告訴你的那些沒錯的 [02:01.81]But let me give you a wider and more complete picture about foreign exchange. [02:04.40]現(xiàn)在我給你再講一些外匯交易方面的知識。 [02:06.98]More or less, foreign exchange dealing involves a calculated gamble on exchange rates. [02:10.13]外匯交易或多或少有點像對匯率來一次有意的賭博。 [02:13.28]Z:Why 'gamble'? [02:14.11]張：為什么您用“賭博”這個詞呢? [02:14.95]S:Isn't foreign exchange dealing like a gamble? As you described in your example, [02:17.65]斯：你說，外匯交易像不像賭博?從你舉的例子來說， [02:20.36]the German company may get a better exchange rate if it waits for three weeks to buy the dollars at the spot rate. [02:24.21]那個德國公司如果等到三周以后再即期購買美元，匯率有可能對他們有利： [02:28.06]But things will also go against us. Three weeks later, the rate could be worse. [02:31.39]但也可能事與愿違，三周后的匯率也許變得很糟糕。 [02:34.72]So anyway, either course of action runs a risk. [02:36.79]因此，不管是前者，還是后者都承擔風險。 [02:38.85]Z:But what are all these related to currency options? [02:40.74]張：但您以上所說的一切與期權(quán)有什么關(guān)系呢? [02:42.64]S:Oh, don't lose your patience.Under the currency option,the customer pays a premium to the bank. [02:46.11]斯：你得沉住氣呀!想要取得期權(quán)，客戶得向銀行支付一筆保證金。 [02:49.59]Z:What advantages concerning foreign exchange can the customer enjoy? [02:51.94]張：那么客戶在外匯買賣時享有什么好處呢? [02:54.29]S:After the customer of the bank pays a premium, the bank send out confirmation of the deal. [02:57.72]斯：在客戶向銀行支付了一筆保險費或保證金以后，銀行就出具一份外匯期權(quán)交易的確認書。

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