2. Who are the main participants in the foreign exchange market? Participants in the foreign exchange market mainly include central banks, commercial banks, non-bank financial institutions, brokerage companies, self-dealers and large multinational enterprises. They trade frequently and the transaction amount is huge, each transaction is in the millions of dollars, even exceeding10 million dollars. Participants in foreign exchange speculation can be divided into investors and speculators according to their trading purposes.
How did the foreign exchange market come into being? In the contemporary world economy, any country is inseparable from international economic and trade exchanges. With the international flow of goods, services and capital, it is inevitable that all kinds of money will flow across national borders for payment. International economic exchanges form the supply and demand of foreign exchange, which leads to foreign exchange speculation. The place engaged in foreign exchange speculation is called the foreign exchange market. With the globalization of the world economy, the international foreign exchange market is increasingly closely linked. (concern: what kind of stocks will perform beyond imagination? )
What are the major foreign exchange markets in the world? At present, there are about 30 major foreign exchange markets in the world, which are distributed in different countries and regions on all continents. According to the traditional geographical division, it can be divided into Asia-Pacific region, Europe and North America, among which London, Frankfurt, Zurich and Paris in Europe, new york and Los Angeles in North America, and Sydney, Tokyo, Singapore and Hong Kong in Asia-Pacific region are the most important.
Each market has its own fixed and unique characteristics, but all markets are * * *. Separated by distance and time, markets are sensitive and independent. After one center closes its business every day, it will pass the order to another center, sometimes setting the tone for the opening of the next market. These foreign exchange markets are centered on their cities and radiate to other neighboring countries and regions. Due to different time zones, the foreign exchange market is open and closed during business hours, and it is listed for business one after another. They are interconnected by advanced communication equipment and computer networks, and market participants can conduct transactions all over the world. Foreign exchange funds flow smoothly, and the exchange rate difference between markets is very small, forming a global unified and all-weather international foreign exchange market.
5. What is the largest foreign exchange market in Asia? Tokyo is the largest foreign exchange speculation center in Asia. Before the 1960s, Japan implemented strict financial control, and it was not until 1964 that Japan joined the International Monetary Fund that the Japanese yen was freely convertible, and the foreign exchange market in Tokyo began to take shape gradually. After the 1980s, with the rapid development of Japan's economy and the gradual rise of its position in international trade, Tokyo's foreign exchange market has also grown.
Since 1990s, affected by the collapse of Japan's bubble economy, transactions in Tokyo's foreign exchange market have been in a downturn. Trading in Tokyo's foreign exchange market is dominated by US dollars against Japanese yen. Japan is a big trading country, and the trade demand of importers and exporters has a great influence on the fluctuation of Tokyo's foreign exchange. Because the exchange rate fluctuation is closely related to Japan's trade situation, the Bank of Japan is extremely concerned about the exchange rate fluctuation of the US dollar against the Japanese yen and frequently intervenes in the foreign exchange market. This is an important feature of the Tokyo foreign exchange market.
6. Where is the largest foreign exchange speculation center in the world? In London. As the oldest international financial center in the world, the formation and development of London's foreign exchange market is also the earliest in the world. Long before the First World War, the foreign exchange market in London had begun to take shape. 1979 10 in June, Britain completely abolished foreign exchange control, and the foreign exchange market in London developed rapidly.
7. Where is the most active foreign exchange market in North America? In new york. After World War II, with the US dollar becoming the world reserve and settlement currency, new york became the world dollar settlement center. New york's foreign exchange market has rapidly developed into a completely open market and is the second largest foreign exchange speculation center in the world. At present, more than 90% of the world's US dollar receipts and payments are made through new york's "inter-bank clearing system", so new york's foreign exchange market has irreplaceable functions of clearing and allocating US dollars, and its position is increasingly consolidated. At the same time, the importance of new york's foreign exchange market is also reflected in its important influence on the exchange rate trend. There are three main reasons for the drastic change of exchange rate in new york market: the economic situation in the United States has a decisive impact on the world; Various financial markets in the United States are developed, and the stock market, bond market and foreign exchange market interact and are interrelated; Speculative forces, mainly American investment funds, are very active, causing exchange rate fluctuations. Therefore, the exchange rate changes in new york market have attracted the special attention of foreign exchange speculators all over the world.
8. Why is the buying price of the bank lower than the selling price? The bank's bid price refers to the quotation for the bank to buy the benchmark currency. Bank selling price refers to the quotation that the bank sells the benchmark currency. The difference between the bid price and the bid price represents the bank's return on taking risks. The bid-ask spread of frequently traded euro, yen, pound and Swiss franc is relatively small, while the bid-ask spread of lightly traded currencies is relatively large.
9. How many ways are there to express the exchange rate in the international foreign exchange market? Generally speaking, there are two kinds, direct quotation method and indirect pricing method.
10. What is direct pricing? Direct quotation is also called the price method. It is a way to express a unit's foreign currency exchange rate in domestic currency. Generally speaking, foreign currency of 1 unit or 100 unit can be converted into local currency. The more valuable the local currency is, the less local currency can be exchanged for one unit of foreign currency, and the smaller the exchange rate value is; On the other hand, the less valuable the local currency is, the more it can be converted into foreign currency, and the greater the exchange rate value. In direct quotation, the fluctuation of foreign exchange rate is negatively related to the change of domestic currency value: the local currency appreciates and the exchange rate declines; The local currency depreciates and the exchange rate rises. Most countries use direct quotation. Most of the exchange rates in the market are also directly quoted exchange rates. Such as: US dollar against Japanese yen, US dollar against Hong Kong dollar, US dollar against RMB, etc.