A real exchange rate takes account of price movements in each country.
实际汇率考虑到了每一个国家的价格变动。
To calculate the real exchange rate, you need a gauge of prices in each country.
计算实际汇率，你需要每个国家的物价指标。
The last thing it now needs is a further appreciation of the real exchange rate.
中国现在最不需要的就是人民币实际汇率的进一步升值。
This leads to an appreciation of the real exchange rate.
这就导致了实际汇率的升值。
The paper examines the impact of trade costs on real exchange rate volatility.
文章重点论述了交易成本对真实汇率波动性的影响。
Liangbei: the impact of exchange rate changes on the real estate Morgan money?
梁蓓：汇率变化对房地产的影响摩根缺钱？
Liangbei: the impact of exchange rate changes on the real estate Morgan money?
梁蓓：汇率变化对房地产的影响摩根缺钱？
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