“我去银行换汇时，工作人员对我说，由于金融危机，银行没有外汇现金，”马拉维的一位女企业主ZioneKamsinde说。
“When I went to the bank, I was told they had no cash for foreign exchange because of the financial crisis,” said Zione Kamsinde, a woman entrepreneur in Malawi.
没有其他国家像葡萄牙那样在外汇储备中拥有如此多的黄金。
No other country has that much precious metal in their foreign exchange reserves.
韩国认为这样的安全网对那么没有巨额外汇储备的新兴经济体能够经受住金融危机时是必要的。
South Korea argued, rightly, that such a safety net is essential if emerging economies are able to withstand financial crises without piling up ever-larger foreign-exchange reserves.
第三，在大部分国家建造外汇储备并没有大幅推高货币供给和通货膨胀。
Third, in most countries the build-up of foreign-exchange reserves has not hugely pushed up the growth of money and inflation.
第二，即使一国货币的汇率没有被高估，如果它没有大量外汇储备，也有可能受到外汇投机者的成功袭击。
Second, even if its exchange rate is not overvalued, a country could face a successful attack by forex speculators if it does not have a very large amount of foreign exchange.
比如印度似乎没有对外汇市场进行太多干预，但是它的货币去年也没有大的变动。
India, for example, seems not to have intervened much in the foreign-exchange market, but its currency has not moved much over the past year either.
同样，当中国拥有世界最大外汇储备时，假设为世界主要经济俱乐部的G7讨论其汇率问题就没有道理，况且中国都不是其成员。
Similarly, it does not make much sense for the G7, supposedly the world's main economic club, to discuss currencies when China, which holds the largest official reserves, is not a member.
波兰银行体系也十分稳固，基本上没有受到匈牙利、拉脱维亚等地外汇贷款坏账的影响。
Poland's banking system is solid, being largely unburdened by the rotten foreign-currency loans made in places such as Hungary and Latvia.
星期一，外汇市场上苹果公司的股票迅速下落，在德国达到了6个百分点，美国没有苹果的股票信息，因为星期一美国的股市休市。
Apple's stock immediately dipped on foreign exchanges Monday, falling 6 percent in Germany. Monday is a market holiday in the United States.
它们现在没有新兴市场国家那样的外汇储备。
They didn't have the kind of foreign exchange reserves that emerging market countries do now.
这可能使这些国家的央行在消除巨额外汇储备影响的同时又没有引发资本涌入的原因——国际热钱暂时还顾不上它们。
This may be why countries have been able to sterilise large amounts of foreign reserves without attracting yet more capital.
他说，“外汇限制没有完全解除但放松了不少，”“目前可以有效的且非常合法的把资金转移到国外。”
"Foreign exchange restrictions have not been entirely lifted but loosened," he said. "There is more ability to move funds offshore effectively and perfectly legally."
而且这些外汇很多都是美元。 因此直接的危险可能没有那么大。
实际上，一些对欧元区国家的麻烦表示担心的国家很显然受益于欧元，因为至少他们没有了来自外汇市场的压力。
Indeed, some of those fretting about the troubles of the euro area's weaker economies are publicly drawing comfort because they have at least been spared pressure from the foreign-exchange market.
艾奇林指出，美元在1914年还没有成为国际性货币，但是到1925年在各国外汇储备中就取代了英镑。
Mr Eichengreen points out that the dollar had no international role in 1914 but had overtaken sterling in governments' reserves by 1925.
事实证明他们的做法是明智的，因为那些有大量外汇储备的国家能比那些没有或者少有的国家更好地应对金融风暴。
They were wise to do so. Countries with larger reserves are weathering the storm relatively better than those who have bought less insurance.
使得外汇炒家不用担心日本央行会卖出日元的一个原因就是：他们没有见过国家政策制定机构象现在这样不统一。
There's a reason currency traders aren't living in fear that the Bank of Japan will sell yen: the nation's policymaking apparatus is more uncoordinated than ever.
首先，中国拥有巨额外汇储备，原则上讲，这意味着没有什么不可能的收购。
First, China's enormous foreign reserves mean that no takeover is in principle impossible.
贸易顺差没有得到改善，而外汇储备正在产生利息。
The trade surplus is likely to persist, and reserve assets, after all, are generating interest incomes.
部分的答案是，如果仅仅为了方便欧洲国家的话，没有理由期望这些国家中的任何一个改变它们的外汇政策。
Part of the answer is that there can be no reason to expect any of these countries to change their foreign exchange policies merely because they inconvenience Europeans.
（看上表）这是让卢比没有陷得更深的一个原因，也是中央银行外汇储备还能支持6个月的进口总价。
This is one reason why the rupee has not sunk further, and why the central bank's reserves still cover six months' worth of imports.
根据Setser的数据在过去三个月是这些年来首次中国的美国资产没有增长——尽管外汇储备有适度的增长。
According to Mr Setser’s figures, over the past three months China’s American assets showed no growth for the first time in many years—despite the modest increase in reserves.
因此，总体来看，中国没有积累很大的外汇储备。
Overall, therefore, the country did not accumulate substantial foreign currency reserves.
与此相反，在08年第四季度，尽管经常账户盈余达到历史最高值，中国的外汇储备几乎没有增长。
On the contrary, in the fourth quarter of 2008, China's reserves barely rose, despite a record current-account surplus.
与此同时，IMF对于那些没有从它那借款的国家却没有丝毫的影响力，即使那些国家的政策危害了全球经济(比如过度的外汇储备，尤其是中国)。
At the same time the fund still has no clout over countries it does not lend to, even if their policies hurt the global economy (as the excess build-up of reserves, especially in China, surely did).
外汇是一种银行与机构的场外交易市场，所以没有绝对的交易区间。
Foreign Banks and institutions is an OTC market, so there is no absolute ranges.
没有比中国、韩国和日本更大更稳定的适应需求的市场，因为它们在低风险地安置其不断增长的外汇储备。
No other market is large or stable enough to accommodate demand from countries such as China, South Korea and Japan for a low risk haven to park their swelling foreign reserves.
没有比中国、韩国和日本更大更稳定的适应需求的市场，因为它们在低风险地安置其不断增长的外汇储备。
No other market is large or stable enough to accommodate demand from countries such as China, South Korea and Japan for a low risk haven to park their swelling foreign reserves.
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