The International Monetary Situation (1)
國(guó)際貨幣制度(一)
Situation 4
情景 4
Mary Johnson ,an officer of the First National Bank, is discussing the International Monetary System with one of her businessman clients ,Harold Black.
瑪麗·約翰遜,第一國(guó)民銀行的高級(jí)職員,正和她的一位經(jīng)商的顧客哈羅德·布萊克討論國(guó)際貨幣制度。
Black:I have been reading a great deal recently about exchange-rate fluctuations ,
布萊克:最近,我讀了大量有關(guān)外匯匯率浮動(dòng)、
payment balances ,clean and dirty floats ,and the International Monetary System .
收支平衡、不受限制的和受限制的匯率浮動(dòng)以及國(guó)際貨幣制度的材料。
While I generally understand the way foreign exchange markets work,I am not sure exactly what the International Monetary System is.
雖然我對(duì)于外匯市場(chǎng)的機(jī)制有了大概的了解,但是對(duì)于什么是國(guó)際貨幣制度這個(gè)問(wèn)題還是不十分清楚。
Johnson:Well,Mr.Black,the term International Monetary System actually refers to a series of agreements among the major governments and their central banks to bring order and stability to the international exchange markets.
瑪 麗:噢,布萊克先生,“國(guó)際貨幣制度”這一術(shù)語(yǔ)實(shí)際上是指為了維護(hù)國(guó)際外匯市場(chǎng)的秩序和穩(wěn)定,一些影響較大的政府和中央銀行之間所簽定的一系列協(xié)定。
The most important ,signed in 1944,is called the Bretton Woods Agreement .
最為重要的一個(gè)協(xié)定是1944年簽定的布雷頓森林的協(xié)定,
It established the World Bank and the International Monetary Fund.
根據(jù)該協(xié)定而建立了世界銀行和國(guó)際貨幣基金組織。
B:Oh ,so you mean these agreements regulate international exchange rates?
布萊克:那么,您是說(shuō)由這些協(xié)定來(lái)管理國(guó)際匯率嗎?
J:They did until 1971.Up until that time international foreign exchange rates were pegged to fixed values for gold and the U.S.dollar,
瑪 麗:直到1971年,這些協(xié)定確實(shí)起著這樣的作用。在當(dāng)時(shí),國(guó)際外匯匯率是以黃金和美元的固定價(jià)值來(lái)定價(jià)的,
which was considered to be the key currency .
黃金和美元被分認(rèn)為當(dāng)時(shí)的主要通幣。
B:What happened in 1971 to change this ?
布萊克:那么,1971年時(shí),什么原因改變了這一點(diǎn)呢?
J:The surplus of dollars abroad from foreign aid,capital exports and chronic balance of payments deficits forced the U.S. to formally suspend gold convertibility .
瑪 麗:由于外援而造成的國(guó)外的美元過(guò)剩,資本的輸出和長(zhǎng)期的國(guó)際收支逆差迫使美國(guó)正式中止了黃金的可兌換性,
This brought an end to the old Bretton Woods System.
致使舊的布雷頓森林體系宣告結(jié)束。