Purchasing power parity (PPP) is a basic exchange rate determinant theory. However, due to the numerous short and long term factors that affect PPP, the real exchange rates frequently deviate from it.
购买力平价说是一种基本的汇率决定理论，但影响购买力平价关系成立的短期或长期经济因素众多，从而使得实际汇率经常偏离平价关系。
A commentary in a central bank-owned newspaper on Thursday said that maintaining the "basic stability" of the exchange rate was "advantageous."
一家央行直属的报纸在周四的报刊中评论道，保持人民币汇率的“基本稳定”是一种“优势”。
Interest rate parity theory is the basic theory describing the decisive role of divergence in domestic and foreign interest rates to currency exchange rate of a country.
利率平价理论是阐述国内外利率水平差异对一国货币汇率起决定作用的基本学说。
The exchange rate dislocation is a phenomenon which the exchange rate trend deviates basic economical essential factors and exchange rate changes unreasonably.
汇率错位是汇率走势偏离基本经济要素的一种不合理变化的现象。
Correspondently, we also can not give a reasonable explanation to the linkages between the micro basic theory and the macro law for the exchange rate.
与之相对应，汇率理论中微观基础和宏观规律之间的联系也一直没有得到合理的说明。
Based on the basic theory and empirical results, this part analyzes the reason and policy implication of incomplete exchange rate pass-through effect.
基于对前文基础理论和实证结果的综合分析，这一部分探讨了人民币汇率不完全传递的原因和政策含义。
Based on the basic theory and empirical results, this part analyzes the reason and policy implication of incomplete exchange rate pass-through effect.
基于对前文基础理论和实证结果的综合分析，这一部分探讨了人民币汇率不完全传递的原因和政策含义。
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