exchange rate of U.S. and china that account for a large proportion of exports in the export-dependent Korean economy cause Korean company’s sales decreasing and trade frictions in the international trade of Korea. What is worse is that exchange rate frictions occur all around the world as well as between U.S. and China. And also protectionism of exchange rate is current global trend. Therefore
exchange rate depending on supply and demand of markets
• Limited flexible exchange rate system: A system that is in a middle of fixed and flexible. It limited the range of exchange rate fluctuation about certain currency within certain range(1~2.25%).
2. 2. Since the flexible exchange rate system was adopted as a new international monetary system in IMF conference held in Kingston,
International Bank for Reconstruction and Development : IBRD)을 창설하였다. 미국의 White안을 기초로 하여 성립된 IMF 협정문에 의하면 브레튼우즈체제는 미달러화를 기축통화(vehicle currency)로 하는 금환본위제도(gold exchange standard system)이다. 즉, 미달러화는 금 1온스당 $35의 금평가를 유지하고 회원국들은 기축통화
I. 들어가며
스위스 바젤에 본부를 둔 국제결제은행 (BIS: Bank for International Settlements) 에서는 매 3년마다 세계 각국의 중앙은행을 대상으로 ‘외환 및 장외파생상품’ 시장조사를 실시하고 있다. 가장 최근 조사인 2004년 자료에 따르면 외환거래를 포함한 세계 외환 및 장외파생상품의 일평균 거래규모
Agreement sets out the IMF's main responsibilities:
promoting international monetary cooperation;
facilitating the expansion and balanced growth of international trade;
promoting exchange stability;
assisting in the establishment of a multilateral system of payments; and
making its resources available (under adequate safeguards) to members experiencing balance of payments difficulties.
The principle survey target
Smart phone users in Kookmin Univ.
More easier to do the communication activity
Increase the frequency of the communication activity
The use of smart phone has been increasing significantly
Recognition about the international news, cultural and information exchange
Class Object!
Understand and be able to explain the concept of exchange rates as they are used in international trade
Be able to predict and take advantage of the relationship between the balance of payments and the exchange rates.
Reasons of altered Exchange Rate
Why Exchange Rate altered ?
→ To exchange Korean money with other nation’s money means that we are buying othe
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exchange risk, which is the possibility that unpredicted changes in future exchange rates will hurt the profitability of business.
The Functions of the Foreign Exchange Market
Currency Conversion
To convert the currency of one country
into that of another country
Ex) $1=₩1,100
Tourists are minor participants
International businesses are major ones
what we want to measure is exchange rate change related to USD.
Although the empirical result cannot support our theoretical expectation, we did not give up the expectation because we do know the insufficiency of the data which is used in regression analysis. If we have enough data, we might find the result which coincides with our expectation. Thus, we prudently conclude that oil price