因此，人民银行实际上采取爬行钉住汇率制。
As a result, the PBOChas de facto adopted a crawling-peg exchange-rate regime.
换句话说，设计的是钉住汇率制度和关键环节。
In other words, the design of the pegging and exchange rate system is the crucial element.
第二，拉脱维亚也可以选择贬值，降低对欧元的钉住汇率。
Second, Latvia could devalue and re-peg against the euro at a lower rate.
不切实际的水平上钉住汇率造成了强烈的黑市外汇交易。
The unrealistic levels at which exchange rates were pegged led to a strong black market in currency transactions.
亚洲金融危机过后，僵化的钉住汇率制被认为是导致危机的原因之一。
After the Asia financial crisis, the rigescent pegged exchange rate has been regarded as one of the reasons that inducing this crisis.
钉住汇率制度是导致东南亚国家近年爆发货币与金融危机的一个重要原因。
The fixing exchange system is one of the reasons for financial crisis in southeastern Asia. Therefo…
中国利率政策的行为表明，钉住汇率下的独立性是以利率政策的有效性损失为代价。
The action of China's interest rate policy shows that the independence of interest rate policy is won by the effectiveness losses under the pegged exchange rate.
指完全由自由市场供求因素决定的货币汇率，与受官方管制的有管理的浮动汇率制度或爬行钉住汇率制不同。
A currency exchange rate that is allowed to be set completely by market forces, differ from the managed floating exchange rate system regulated by the government or pegged exchange rate system.
但是对其他一些实行钉住汇率制的国家来说，情况就不是如此了。最明显的是中国和一些波斯湾石油出口国。
Nor should it be for some of the other countries that maintain pegs, notably China and several of the Persian Gulf's oil exporters.
许多经济学家都认为拉脱维亚就是2001年阿根廷经济危机的翻版，那时阿根廷不切实际的试图采取钉住汇率制，但最终导致货币贬值，并拖欠债务。
Many economists reckon Latvia is simply a replay of Argentina's mess in 2001, when a quixotic effort to keep a pegged exchange rate ended in devaluation and default.
大家所熟知的1992年英镑钉住汇率制事件中，外汇交易市场的操盘手实际上已经挑战了英国央行(BankofEngland)，不仅如此，他们甚至迫使英镑贬值并从中获利达数十亿英镑。
In the well known case of the GBP peg in 1992, the major players in the FX market actually challenged the Bank of England, no less, and forced a devaluation of the GBP, making billions in the process.
假以时日，随着各国以钉住混合货币篮子取代钉住美元的汇率机制，它们也可能重新调整外汇储备的资产组合。
Over time, as countries replace a dollar peg with a mixed basket peg, they are likely to readjust reserve portfolios as well.
昨日，中国央行暗示会调整人民币钉住美元的汇率机制，表明在这个问题上中国可能会提供一些帮助。
Yesterday China's central bank indicated it may prove helpful in that regard when it dropped hints about moving beyond the remninbi's peg to the dollar.
华盛顿和布鲁塞尔均抱怨，钉住美元的汇率制度使中国出口企业获得了不公平的优势。当时，这些中国企业的海外销售出现了飞速增长。
Washington and Brussels complained that the us dollar peg gave Chinese exporters, whose sales overseas at the time were soaring, an unfair advantage.
那些拥有大量美元资产，又钉住美元汇率的国家正在和通货膨胀斗争。
Many of the countries that have built large stocks of dollar assets by pegging their currencies to the greenback are now battling with inflation.
不过，自北京3年多前放松了钉住美元的政策以来，人民币兑欧元汇率实际上出现了下跌，自2005年以来欧元兑人民币升值了约2.6%。
Yet since Beijing loosened its peg to the dollar more than three years ago, the yuan has actually fallen against the euro, pushing the European currency up about 2.6% against the yuan since 2005.
现行的人民币＂软钉住＂美元的汇率政策应是当前以及未来相当长时期内中国的最佳选择。
The current exchange rate regime of "soft pegging"to dollar is the best choice for China both currently and in the near future.
现阶段，东亚各国应共同钉住特别提款权(SDR)，以SDR作为名义锚平抑汇率的剧烈波动。
In present stage, the East Asian countries or areas together should peg to the Special Drawing Rights (SDR) so as "nominal anchor" to stabilize the exchange rate violent fluctuation.
将这些特征与美国近几年的经济走势、美元的下跌联系起来，很容易产生怀疑：东亚国家又回到钉住美元的汇率安排了吗?。
These characteristics, together with the trends of US economy and US dollar, have showed some implication: Has East Asian countries returned to US dollar pegging system?
这是本文想要考察的第一个问题，即探寻东亚国家的汇率安排在危机之后是变得更灵活了呢，还是滑回到危机前的钉住美元制了呢?。
This is the first question which this article wants to inspect, namely inquiring about East Asian country exchange rate arrangement after crisis.
汇率制度表现为单一钉住美元制，利率仍受管制。
And exchange rate regime shows as single-pegged dollar (exchange rate) regime, and interest rate is still restricted.
例如，海湾地区的石油输出国，其货币汇率是钉住美元的：沙特阿拉伯的里亚尔与美元的汇率被固定为3.75。
The Gulf's oil exporters, for instance, tie their currencies to the dollar: the Saudi riyal is fixed firmly at 3.75 to the greenback.
在钉住美元的汇率政策下，海湾国家为了不让自己的货币升值，只能买入美元。
These links have obliged them to buy dollars, so as to prevent their own currencies from rising.
人民币汇率错位自我修正能力较强，钉住“一篮子”货币能较好地反映人民币实际有效汇率的波动。
RMB can modify misalignment by itself and pegging to a basket currency can reflect the fluctuation of REER of RMB preferably.
这标志着钉住一篮子货币汇率制度成为下一阶段人民币汇率形成机制。
Pegging a basket of currencies has been becoming the underlying mechanism of RMB exchange rate.
布雷顿森林会议1944年召开的国际会议，国际固定汇率以美元为基础确定，美元钉住黄金价格。
Bretton Woods Conference1944 conference at which an international fixed exchange rate was created based on the U. S. dollar pegged to the price of gold.
布雷顿森林会议1944年召开的国际会议，国际固定汇率以美元为基础确定，美元钉住黄金价格。
Bretton Woods Conference1944 conference at which an international fixed exchange rate was created based on the U. S. dollar pegged to the price of gold.
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