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孙甘迪 · 2018年11月28日

问一道题:NO.PZ201601050100000302 第2小题

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问题如下图:

    

选项:

A.

B.

C.

解释:


韩国出口下降,是不是韩币升值,美国出口上升,美元贬值?那KRW/USD应该下降? 解释里说是KRW/USD升值? 麻烦解释一下,谢谢。

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Shimin_CPA税法主讲、CFA教研 · 2018年11月28日

韩国出口下降,面临贸易赤字,韩币是会贬值的。相对的美元就会增值。

或者你换个角度,美国出口上升,美国的外汇储备也会上升,但是美国企业家更希望把外币,例如韩币换成美元,所以美元的需求量大,美元升值。

因此 KRW/USD 升值 。

NDF可以看成是一种特殊的forward,根据DC/FC的形式,KRW/USD 升值,所以买KRW/USD 的NDF。

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