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提问人：网友upjunjie 发布时间：2022-01-07
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The Major Currencies in the World？？The currencies ...

The Major Currencies in the World  The currencies of the world's major economies have names and backgrounds that are as diverse as the countries themselves.

The dollar is the name for the currency used in many countries including the United States , Canada, and Australia. It gets its name from a silver coin minted during the Middle Ages in a small valley, or "Thal" , in Bohemia called Joachimathal. Just a sausage Frankfurt called "Joachimsthaler" or simply " Thaler" , and came to be called " dollar" in English.

The pound, used in Britain, Egypt, and Lebanon among others, refers to the weight used in determining the value of coins, based on precious metals such as gold or sterling. The penny has the same origin as the word pawn,found in terms such as pawn shop , and originally meant "to pledge". A penny , like any currency , is a " pledge " of value.

In Italy and Turkey , the currency is called lira. The word is based on the Latin lira, meaning "pound" and once again referring to the weight of the original coins.

In Spanish , the word meaning " weight" , peso is used to describe the coins that were based on a certain weight of gold or silver. Originally,there were gold coins called peso de oro and silver ones called peso de plata. In Spain , the currency is called peseta, meaning "small peso". The word peso is used to describe the currency in many Spanish-speaking countries in Latin America.

In Denmark, Norway, and Sweden, the word for crown-krone in Denmark and Norway,krona in Sweden-is used to describe the currency that was originally minted by the king and queen,with royal crowns stamped on the earlier coins. Today,the crown has been replaced by other symbols , but the name remams.

The franc,used in France, Switzerland, and other countries and territories,is based on the early coins used in France, that bore the Latin inscription franconium rex , meaning "king of the Franks". The com, as well as the country, took its name from one of the original tribes that settled in the area, the Franks.

The German mark and Finnish markka derive their name from the small marks that were cut into coins to indicate their precious metal content. The German mark, deutsche mark in German ,is often called by its shortened name , D-mark.

The ancient Chinese word yuan meant "round", or "round thing". The name of the Japanese currency, the yen, and the name of the Chinese currency, the yuan , both derived from the old Chinese word,refer to the round shape of the original coins.

Problem may arise when using the plural forms of these currencies. Most take the English plural "s", for example , pounds , dollars , francs , Deutschmarks , etc. However , some are invariable: yuan, yen, baht, and rand. Others keep the plural form of the language spoken in the country of origin: lira-lire , krone-kroner, krona-kronor , markka-markkaa , etc.

Currencies are said to be convertible or invertible. Semi-convertible currencies can only be bought or sold through a country's central bank for documented commercial transactions. The exchange rates are fixed. Semi-convertible currencies are typical of third world countries.

A hard currency is one which is strong and unlikely to fall in value. A soft currency is one from a country with a week balance of payments and for which there is little demand.

Questions for reading :

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更多“The Major Currencies in the World？？The currencies ...”相关的问题
第1题
We accept all major __________ such as RMB, US dollars, Euro, HK dollars.

A.currencies

B.money

C.cards

D.cashes

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第2题
【判断题】In 1944, Australia became a part of the Bretton Woods system, with major world currencies maintaining fixed exchange rates relative to each other.
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第3题
Using actual market exchange rates and comparable short-term interest rates for the major currencies:

A．uncovered interest parity is easier to test than covered interest parity．

B．we see that covered interest parity holds better between the currencies of countries that impose broad capital controls．

C．we see that deviations from uncovered interest parity occur only during times of crisis．

D．we see that covered interest parity usually holds well．

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第4题
Passage 6The U.S. dollar was supposed to be at the end of its rope. Kicking the bucket. A

Passage 6

The U.S. dollar was supposed to be at the end of its rope. Kicking the bucket. A dying symbol of a dying empire. Well, maybe not. The dollar continues to _1_ gloom-and-doom predictions. After a swoon (低迷）last year, the dollar is again enjoying a major _2_. The U.S. dollar index, which measures the dollar’s value against other major currencies, is just off an eight-month high. The main reason behind the dollar’s recovery is actually no real surprise at all. There is no _3_ able to replace the dollar as the world’s No.l currency. What makes currencies so fascinating is that their perceived value is always relative to other currencies. Sure, the U.S. budget deficit is _4_, the government’s debt is increasing, and Wall Street is still repairing itself. But the dollar remains the prettiest of a flock of ugly ducklings. Is any other major industrialized economy _5_ better off than the U.S.？ Not really. Just about the _6_ developed world is suffering with the same problems. That’s why when investors get nervous, they still rush to the good old dollar. The dollar wins because no one else is really in the game. The euro has been exposed as a _7_. Only a few months ago, economists truly believed the euro could _8_ the dollar as the top reserve currency. Now experts are questioning if the euro has a future at all. The Greek debt crisis has _9_ that the euro is only as strong as its weakest link. Maybe over the next 20 or 30 years，the dollar will slowly lose the _10_ status it holds today. That process, however, could well be driven by the appearance of new rivals.

A)fraud

B)consistently

C)dominant

D)expanding

E)entire

F)incentive

G)rival

H)alleged

I)defy

J)particularly

K)alternative

L)relative

M)revealed

N)intriguing

O)rally

第1空答案是：

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第5题
Financial RisksSeveral types of financial risk are encountered in international marketing;

Financial Risks

Several types of financial risk are encountered in international marketing; the major problems include commercial, political, and foreign exchange risk.

(46)They include solvency, default, or refusal to pay bills. The major risk, however, is competition which can only be dealt with through consistently effective management and marketing.(47)Such risk is encountered when a controversy arises about the quality of goods delivered, a dispute over contract terms, or any other disagreement over which payment is withheld. One company, for example, shipped several hundred tons of dehydrated potatoes to a distributor in Germany.(48)The alternatives for the exporter were reducing the price, reselling the potatoes, or shipping them home again, each involving considerable cost.

Political risk relates to the problems of war or revolution, currency inconvertibility, expropriation or expulsion, and restriction or cancellation of import licenses.

(49)Management information systems and effective decision-making processes are the best defenses against political risk. As many companies have discovered, sometimes there is no way to avoid political risk, so marketers must be prepared to assume them or give up doing business in a particular market.

Exchange-rate fluctuations inevitably cause problems, but for many years, most firms could take protective action to minimize their unfavorable effects.(50)International Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981. Before rates were permitted to float, devaluations of major currencies were infrequent and usually could be anticipated, but exchange-rate fluctuations in the float system are daily affairs.

A Political risk is an environmental concern for all businesses.

B One unique risk encountered by the international marketer involves financial adjustments.

C Commercial risks are handled essentially as normal credit risks encountered in day-to-day business1.

D The distributor tested the shipment and declared it to be below acceptable taste and texture standards.

E Floating exchange rates of the world's major currencies have forced all marketers to be especially aware of exchange-rate fluctuations and the need to compensate for them in their financial planning.

F Many international marketers go bankrupt each year because of exchange-rate fluctuation.

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第6题
？Read the article below about financial risks.？Choose the best sentence to fill each of th

？Read the article below about financial risks.

？Choose the best sentence to fill each of the gaps,

？For each gap 8—12, mark one letter (A—a) on your Answer Sheet.

？De not use any letter more than once.

？There is an example at the beginning.

Financial Risks

Several types of financial risk are encountered in international marketing; the major problems include commercial, political and foreign exchange risks.

Commercial risks are handled essentially as normal credit risks encountered in day-to-day business. They include solvency, default, or refusal to pay bills. The major risk, (8) which can only be dealt with through consistently effective management and marketing. One unique risk encountered by the international marketer involves financial adjustments. Such risk is encountered when a controversy arises about the quality of goods delivered, a dispute over contract terms, or (9) . One company, for example, shipped several hundred tons of dehydrated potatoes to a distributor in Germany. The distributor tested the shipment and declared it to be below acceptable taste and texture standards. The alternatives for the exporter were reducing the price, reselling the potatoes, or shipping them home again, each involving considerable cost. Political risk relates to the problems of war or revolution, currency inconvertibility, expropriation or expulsion, and restriction or cancellation of import licenses. Political risk is an environmental concern for all businesses. Management information systems and effective decision-making processes are the best defenses against political risk. As many companies have discovered, sometimes there is no way to avoid political risk, (10) .

Exchange-rate fluctuations inevitably cause problems, but for many years, most firms could take protective action to minimize their unfavourable effects. Floating exchange rates of the world's major currencies have forced all marketers (11) . International Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981. (12) , devaluations of major currencies were infrequent and usually could be anticipated, but exchange rate fluctuations in the float system are daily affairs.

A. After serious consideration

B. commercial, political and foreign exchange risks.

C. however, is competition

D. any other disagreement over which payment is withheld

E. to be especially aware of exchange-rate fluctuations and the need to compensate for them in their financial planning

F. so marketers must be prepared to assume them or give up doing business in a particular market

G. Before rates were permitted to float

(8)

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第7题
&8226;Read the article below about the financial risks. &8226;Choose the best sentence fro

&8226;Read the article below about the financial risks.

&8226;Choose the best sentence from the list A-G to fill each of the gaps.

&8226;For each gap (8-12), mark one letter (A-G) on your Answer Sheet.

&8226;Do not use any letter more than once.

Several types of financial risks are encountered in international marketing. The major problems include commercial, political and foreign exchange risks.

Commercial risks are handled essentially as normal credit risks encountered in everyday business. They include solvency, default, or refusal to pay bills. The major risk, (8) which can only be dealt with through consistently effective management and marketing. One unique risk encountered by the international marketer involves financial adjustments. Such risk is encountered when a controversy arises about the quality of goods delivered, a dispute over contract terms, or (9) One company, for example, shipped several hundred tons of dehydrated potatoes to a distributor in Germany. The distributor tested the shipment and declared it to be below acceptable taste and texture standards. The alternatives for the exporter were reducing the price, reselling the potatoes, or shipping them home again, each involving considerable cost.

Political risk relates to the problems of war or revolution, currency inconvertibility, expropriation or expulsion, and restriction or cancellation of import licenses. Political risk is an environmental concern for all businesses. Management information systems and effective decision-making processes are the best defenses against political risks. As many companies have discovered sometimes there is no way to avoid political risk, (10) .

Exchange-rate fluctuations inevitably cause problems, but for many years, most firms could take protective action to minimize their unfavourable effects. Floating exchange rates of the world's major currencies have forced all marketers (11) . International Business Machine Corporation, for example, reported that exchange losses resulted in a dramatic 21.6 percent drop in their earnings in the third quarter of 1981. (12) devaluations of major currencies were infrequent and usually could be anticipated, but exchange rate fluctuations in the float system are daily affairs.

A．Before rates were permitted to float

B．commercial, political and foreign exchange risks.

C．so marketers must be prepared to assume them or give up doing business in a particular market

D．Corporation can take some measure to avoid financial risks.

E．however, is competition

F．any other disagreement over which payment is withheld

G．to be especially aware of exchange-rate fluctuations and the need to compensate for them in their financial planning

(8)

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第8题
&8226;Look at the statements below and the 5 passages about the European Monetary System.&

&8226;Look at the statements below and the 5 passages about the European Monetary System.

&8226;Which passage (A, B, C, D or E) does each statement 1-8 refer to？

&8226;For each statement 1--8, mark one letter (A, B, C, D or E) on your Answer Sheet.

&8226;You will need to use some of these letters more than once.

A

The European Monetary System (EMS) has, since its inception in 1979, provided a fascinating example of policy coordination in practice. As concern about exchange-rate instability and global economic imbalances has grown, both academic researchers and policymakers have looked to the EMS for lessons about cooperation on a wider scale. European Monetary System, arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another, was organized in 1979. to stabilize foreign exchange and counter inflation among members.

B

Periodic adjustments raised the values of strong currencies and lowered those of weaker ones, but after 1986 changes in national interest rates were used to keep the currencies within a narrow range. In the early 1990s the European Monetary System was strained by the differing economic policies and conditions of its members, especially the reunified Germany, and Britain permanently withdrew from the system. In 1994 the European Monetary Institute was created as transitional step in establishing the European Central Bank (ECB) and a common currency.

C

The ECB, which was established in 1998, is responsible for setting a single monetary policy and interest rate for the adopting nations, in conjunction with their national central banks.

Later in 1998, Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain cut their interest rates to a nearly uniformly low level in an effort to promote growth and to prepare the way for a unified currency. At the beginning of 1999, the same EU members adopted a single currency, the euro, for foreign exchange and electronic payments.

D

The introduction of the euro (worth about $1.17 at its inception) four decades after the beginnings of the European Union was widely regarded as a major step toward European political unity. By creating a common economic policy, the nations acted to put a damper on excessive public spending, reduce debt, and make a strong attempt at taming inflation. The European Currency Unit (ECU), which was established in 1979, was the forerunner of the euro. Derived from a basket of varying amounts of the currencies of the EU nations, the ECU was a unit of accounting used to determine exchange rates among the national currencies.

E

Of the European Union members not adopting the euro (Denmark, Great Britain, and Sweden), perhaps the most notable is Britain, which continues to regard itself as more or less separate from Europe. Nonetheless, British Prime Minister Tony Blair announced plans to consider adopting the euro sometime in 2002-5. In all three nations there was strong public anxiety that dropping their respective national currencies would give up too much independence. Euro coins and notes were introduced into circulation in January, 2002, and local currencies were removed from circulation by July of that year.

Some member nations' specific strategy in economy made the System under pressure.

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第9题
Exchange Rates：A Brief History of Exchange RatesFor centuries，the currencies of the world

Exchange Rates：A Brief History of Exchange Rates

For centuries，the currencies of the world were backed by gold．That is，a piece of paper currency issued by any world government represented a real amount of gold held in a vault by that government．In the 1930s，the U.S.set the value of the dollar at 8 single，unchanging level：l ounce of gold was worth $35．After World War II，other countries based the value of their currencies on the U.S.dollar．Since everyone knew how much gold a U.S.dollar was worth，then the value of any other currency against the dollar could be based on its value in gold．A currency worth twice as much gold as a U.S.dollar was，therefore，also worth two U.S.dollars．

Unfortunately，the real world of economics outpaced this system．The U.S.dollar suffered from inflation(its value relative to the goods it could purchase decreased)，while other currencies became more valuable and more stable．Finally，in 1971，the U.S.took away the gold standard altogether．This meant that the dollar no longer represented an actual amount of a precious substance-market forces alone determined its value．

Today，the U.S.dollar still dominates many financial markets．In fact，exchange rates are often expressed in terms of U.S.dollars．Currently，the U.S.dollar and the euro account for approximately 50 percent of all currency exchange transactions in the world．Adding British pounds，Canadian dollars，Australian dollars，and Japanese yen to the list accounts for over 80 percent of currency exchanges altogether．

Methods of Exchange：the Floating Exchange Rate

There are two main systems used to determine a currency's exchange rate：floating currency and pegged currency．The market determines a floating exchange rate．In other words，a currency is worth whatever buyers are willing to pay for it．This is determined by supply and demand，which is in turn driven by foreign investment，import/export ratios，inflation，and a host of other economic factors．

Generally，countries with mature，stable economic markets will use a floating system．Virtually every major nation uses this system，including the U.S.，Canada and Great Britain．Floating exchange rates are considered more efficient，because the market will automatically correct the rate to reflect inflation and other economic forces．

The floating system isn't perfect，though．If a country's economy suffers from instability，a floating system will discourage investment．Investors could fall victim to wild swings in the exchange rates，as well as disastrous inflation．

Methods of Exchange：the Pegged Exchange Rate

A pegged，or fixed system，is one in which the exchange rate is set and artificially maintained by the government．The rate will be pegged to some other country's dollar，usually the U.S.dollar．The rate will not fluctuate from day to day．

A government has to work to keep their pegged rate stable．Their national bank must hold large reserves of foreign currency to mitigate changes in supply and demand．If a sudden demand for a currency was to drive up the exchange rate，the national bank would have to release enough of that currency into the market to meet the demand．They can also buy up currency if low demand is lowering exchange rates．

Countries that have immature，potentially unstable economies usually use a pegged system．Developing nations can use this system to prevent out-of-control inflation．The system can backfire，however，if the real world market value of the currency is not reflected by the pegged rate．In that case，a black market may spring up，where the currency will be traded at its market value，disregarding the government's peg．

When people realize that their currency isn’t worth as much as the pegged rate indicates，they may rush to exchange their money for other，more stable currencies．This can lead to economic disaster，since the sudden flood of cur

A．After World War I

B．After World Wat II

C．In 1930s

D．In 1960s

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第10题
The Treaty on European Union also set out the economic criteria Member States must meet to
complete Europe's economic and monetary union (EMU), the ultimate goal of economic partnership envisaged by the architects of the Treaty of Rome. EMU means a single monetary policy operating within a single economic market and is therefore the logical completement to the Single Market in Europe today. The EMU will be run by a European Central Bank independent of both national governments and European union institutions.

A major aspect of EMU is the single currency, to be known as the cure. The cure will enter into circulation in January 1999 in those Member States which meet the criteria for entry to the EMU, and by mid-2002 the changeover from national currencies to the cure in those countries will be complete. The introduction of the cure will be the most visible measure of integration to date in the daily lives of citizens of the European Union.

The rights of European citizens were further extended by the Maastricht Treaty, m that today citizens of the Member States may travel, reside, work and carry out transactions in any country of the EU without hindrance and with full protection of the law. The European Union's fields of responsibility were extended to include areas such as consumer protection, public health policy, environmental protection, education and culture and the creation Of major transport, communications and energy.

Since the signing of the Treaty of Rome in 1957, Europe has been witness to a remarkable growth in its vitality, homogeneity and strength as a democracy. The first union of six Member States has been enlarged to its present number of fifteen. Added to the original six are Denmark, Ireland, the United Kingdom, Greece, Spain, Portugal, Austria, Sweden and Finland, the last three countries being admitted to the European Union in 1995. The next century will see the inclusion in the Union of a number of countries, mostly from central and Eastern Europe. Today the European Union is one of the world's greatest single trading powers. Its present population of 370 million has many freedoms and choices, both as citizens and as consumers. Its companies have entered new markets and formed new partnerships to exploit economic opportunities at home and abroad. As the century draws to a close, the vision of a united Europe; made manifest by the Treaty of Rome, is closer to realization than even before.

How many Member States are there now in the European Union？

A．18.

B．12.

C．6.

D．15.

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