The International Monetary Situation (1)
國際貨幣制度(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,第一國民銀行的高級職員,正和她的一位經(jīng)商的顧客哈羅德·布萊克討論國際貨幣制度。
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、
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以及國際貨幣制度的材料。
While I generally understand the way foreign exchange markets work,I am not sure exactly what the International Monetary System is.
雖然我對于外匯市場的機(jī)制有了大概的了解,但是對于什么是國際貨幣制度這個問題還是不十分清楚。
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,“國際貨幣制度”這一術(shù)語實際上是指為了維護(hù)國際外匯市場的秩序和穩(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,您是說由這些協(xié)定來管理國際匯率嗎?
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)定確實起著這樣的作用。在當(dāng)時,國際外匯匯率是以黃金和美元的固定價值來定價的,
which was considered to be the key currency .
黃金和美元被分認(rèn)為當(dāng)時的主要通幣。
B:What happened in 1971 to change this ?
布萊克:那么,1971年時,什么原因改變了這一點呢?
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外的美元過剩,資本的輸出和長期的國際收支逆差迫使美國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。