flexible exchange rate; flexible rate

简明释义

伸缩汇率

英英释义

例句

1.The central bank intervened to stabilize the flexible exchange rate during a financial crisis.

中央银行在金融危机期间干预以稳定灵活汇率。

2.A flexible rate allows for automatic adjustments based on market conditions.

灵活汇率允许根据市场条件进行自动调整。

3.Investors may prefer countries with a flexible exchange rate due to potential higher returns.

投资者可能更喜欢拥有灵活汇率的国家，因为潜在的回报更高。

4.A flexible rate can help a country respond quickly to economic shocks.

灵活汇率可以帮助一个国家迅速应对经济冲击。

5.Countries with a flexible exchange rate often experience more volatility in their currency values.

拥有灵活汇率的国家，其货币价值通常会经历更多波动。

作文

The concept of a flexible exchange rate, also known as a flexible rate, plays a crucial role in the global economy. In essence, a flexible exchange rate is a system where the value of a currency is determined by the market forces of supply and demand relative to other currencies. This system contrasts with fixed or pegged exchange rates, where a currency's value is tied to another major currency or a basket of currencies. Understanding the implications of a flexible exchange rate is vital for both businesses and investors alike.One of the primary advantages of a flexible exchange rate is its ability to absorb shocks from external economic changes. For instance, if a country experiences a sudden increase in inflation, the value of its currency may depreciate naturally in a flexible exchange rate system. This depreciation can help stabilize the economy by making exports cheaper and more competitive on the international market, thus potentially increasing demand for those exports. Conversely, if a country faces a recession, a flexible exchange rate might appreciate, making imports cheaper and providing consumers with more choices.Moreover, a flexible exchange rate provides central banks with greater autonomy in conducting monetary policy. Central banks can adjust interest rates without the immediate pressure of maintaining a fixed exchange rate. For example, if inflation is rising, a central bank might increase interest rates to cool off the economy. In a fixed exchange rate system, such a move could lead to capital inflows, putting upward pressure on the currency, which could counteract the intended effects of the interest rate hike.However, there are also notable disadvantages associated with a flexible exchange rate. One significant drawback is the potential for increased volatility in exchange rates. Fluctuating rates can create uncertainty for businesses engaged in international trade, making it more challenging to price goods and manage costs. Companies may face difficulties in forecasting expenses and revenues when exchange rates are unstable, which can lead to financial losses.Furthermore, countries with a flexible exchange rate may experience speculative attacks on their currencies. Investors might bet against a currency they believe is overvalued, leading to rapid depreciation. Such scenarios can create panic in the markets and lead to economic instability. As a result, governments may need to intervene to stabilize their currencies, which can undermine the benefits of having a flexible system.In conclusion, while a flexible exchange rate offers several advantages, including the ability to absorb economic shocks and greater independence in monetary policy, it also presents challenges such as volatility and susceptibility to speculation. Understanding this balance is essential for policymakers, businesses, and investors navigating the complexities of the global economy. As we move forward in an increasingly interconnected world, the implications of a flexible exchange rate will continue to shape economic strategies and decisions across borders.

灵活汇率的概念，也称为灵活汇率，在全球经济中发挥着至关重要的作用。实质上，灵活汇率是一种系统，其货币的价值由相对于其他货币的供求市场力量决定。这一系统与固定或挂钩汇率形成对比，在固定汇率制度下，货币的价值与另一种主要货币或一篮子货币挂钩。理解灵活汇率的影响对企业和投资者来说都是至关重要的。灵活汇率的主要优势之一是其能够吸收来自外部经济变化的冲击。例如，如果一个国家经历了突然的通货膨胀增加，其货币的价值可能在灵活汇率系统中自然贬值。这种贬值可以通过使出口变得更便宜并在国际市场上更具竞争力，从而潜在地增加对这些出口的需求，帮助稳定经济。相反，如果一个国家面临衰退，灵活汇率可能会升值，使进口变得更便宜，并为消费者提供更多选择。此外，灵活汇率还为中央银行在实施货币政策时提供了更大的自主权。中央银行可以调整利率，而不必立即承受维持固定汇率的压力。例如，如果通货膨胀上升，中央银行可能会提高利率以冷却经济。在固定汇率制度下，这样的举动可能导致资本流入，对货币施加上行压力，从而抵消利率上调的预期效果。然而，灵活汇率也存在显著的缺点。一个主要的缺点是汇率波动性可能增加。波动的汇率可能会给从事国际贸易的企业带来不确定性，使其更难以定价商品和管理成本。当汇率不稳定时，公司在预测支出和收入方面可能面临困难，这可能导致财务损失。此外，拥有灵活汇率的国家可能会经历对其货币的投机攻击。投资者可能会对他们认为被高估的货币进行做空，导致快速贬值。这种情况可能在市场上造成恐慌，并导致经济不稳定。因此，政府可能需要干预以稳定其货币，这可能会削弱灵活系统的好处。总之，虽然灵活汇率提供了几项优势，包括吸收经济冲击的能力和货币政策的独立性，但它也带来了诸如波动性和易受投机影响等挑战。理解这种平衡对政策制定者、企业和投资者在应对全球经济复杂性时至关重要。随着我们在日益互联的世界中前进，灵活汇率的影响将继续塑造跨国界的经济战略和决策。