| NDF市场对境内人民币汇率的影响 |
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| 引用本文： | 吴先智,Lan Qingfa.NDF市场对境内人民币汇率的影响[J].广东金融学院学报,2008,23(4):81-88. |
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| 作者姓名： | 吴先智 Lan Qingfa |
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| 作者单位： | 华东师范大学,商学院,上海,200241 |
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| 摘 要： | 境内即期汇率与NDF汇率之间有较强的引导作用,且境内即期汇率占主导地位;1年期的NDF汇率与境内远期相互引导,而其他期限品种只存在境内远期汇率对NDF汇率的引导作用。国内市场应进一步放开对于衍生品交易的限制。加大非银行金融机构和非金融企业的引入力度,会扩展市场的容量,促进参与主体间的竞争。
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| 关 键 词： | 人民币衍生品 无本金交割远期 远期汇率 |
Study of the Effect of the NDF Market on the Onshore RMB Exchange Rate |
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| Wu Xianzhi,Lan Qingfa.Study of the Effect of the NDF Market on the Onshore RMB Exchange Rate[J].Journal of Guangdong University of Finance,2008,23(4):81-88. |
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| Authors: | Wu Xianzhi Lan Qingfa |
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| Abstract: | The domestic spot exchange rate and the NDF exchange rate have a fairly strong influence on each other and the domestic spot exchange rate is predominant.The one-year NDF exchange rate and the domestic long-term exchange rate impact each other,while with other term products the domestic long-term exchange rate only has a guiding effect on the NDF exchange rate.More restrictions should be lifted on the domestic market for derivative transactions.Increasing the participation of non-banking financial institutions and non-financial enterprises would increase the volume of the market and promote more competition among traders in the market. |
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| Keywords: | RMB derivatives Non-Deliverable Forwards long-term exchange rate |
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