自由浮动汇率制的时代到来。
由于采取固定汇率制，它们无法将货币贬值。
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.
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.
因此，金本位制导致各参与国之间形成固定汇率制。
Thus, the gold standard resulted in a system of fixed exchange rates among participating nations.
银本位制是国际金融史上最早、最纯粹的浮动汇率制。
Silver standard is the earliest and sheer floating exchange rate system in the international finance history.
当前，我国实行以市场供求为基础的、有管理的浮动汇率制。
Presently, our country implements take the market supply and demand as the foundation, has the management the floating exchange rate system.
中国实行浮动汇率制后，企业面临着对外汇风险的度量和控制。
Under floating exchange rate, Chinese enterprises are in an urgent need to measure and control foreign exchange risks.
全球化背景下浮动汇率制将以货币联盟的形式向固定汇率制复归。
In the background of globalization, the float exchange rate system will return to the fixed one, in the form of currency unions.
全球化背景下浮动汇率制将以货币联盟的形式向固定汇率制复归。
In the background of globalization, the float exchange rate system will return to the fixed one,...
中国放弃了稳守11年的8.28元人民币兑换1美元的固定汇率制。
China abandoned the 11-year-old peg of its currency, the yuan, at 8.28 to the dollar.
MrSpence想以一种“新混合体”替代通用的浮动汇率制和固定汇率制。
Mr Spence wants to replace the current hybrid of floating and fixed exchange rates-with "a new hybrid".
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.
布雷顿森林体系的解体，导致各国货币和美元脱钩，并建立了浮动汇率制。
The disintegration of the Bretton Woods system, resulting in national currencies getting away from the dollar link, and establishing the floating exchange rate system.
从中国实际出发，人民币汇率是要实行面向市场需求的、有管理的浮动汇率制。
Based on the reality in China, China will adopt a manageable floating exchange rate system for RMB according to the demands of the market.
本文首先对外汇市场结构进行分析，提出固定汇率制下，货币冲击可蓄意制造的特征。
This paper first analyses the structure of the exchange rate market and points out that characteristics of currency shock can be purposely made under the fixed foreign exchange rate.
汇率政策信誉机制，被看作是当前分析固定汇率制可维持问题上最具说服力的一种研究思路。
The reputation mechanism of the exchange rate policy, has considered as the most convincing research idea about the current analyzing issue of the maintenance of the fixed exchange rate regime.
重要问题是在其它方面：亚洲决策者经过总结认为，重大错误不是盯住汇率制，而是汇率高估。
The big event has been elsewhere: the great mistake, Asian policymakers concluded, was not pegged, but overvalued, exchange rates.
作为货币学派的领军人物，米尔顿·弗里德曼坚信在浮动汇率制里可以更容易地进行经济调整。
Milton Friedman, a monetarist economist, argued that adjustments were easier in a floating-rate system.
人民币汇率实行有管理的浮动汇率制，可以避免人民币汇率大起大落，有利于台湾经济的稳定增长。
Therefore a managed floating exchange rate system should be set up to keep the RMB exchange rate from abrupt rises and falls, which will also favor a stable growth for the economy in Taiwan.
世界汇率制度的历史告诉我们，世界各地的社区(在多数)事实上已经从固定汇率制转向浮动汇率制度。
The history of world exchange rate systems shows us that the world community (in its majority) has in fact shifted from the system of fixed exchange rates to floating exchange rate system.
上世纪30年代实行的“金本位制”是一种固定汇率制度，赤字国家必须通过通缩、而非汇率贬值的方式进行调整。
The 1930s gold standard was a fixed exchange rate system in which deficit countries were required to adjust by way of deflation rather than devaluation.
无奈事与愿违，货币危机并未因此而远去。从某种程度上讲，这是因为此次向浮动汇率制的转变并不彻底。
However, currency crises didn't go away. In part, that was because the move to floating rates was not complete.
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.
或许我们从这过去的40年里所得到的教训就是：无论是固定汇率制还是浮动汇率制，它们都不能包治百病。
Perhaps the lesson of the past 40 years is that neither a fixed nor a floating-rate system is a panacea.
或许我们从这过去的40年里所得到的教训就是：无论是固定汇率制还是浮动汇率制，它们都不能包治百病。
Perhaps the lesson of the past 40 years is that neither a fixed nor a floating-rate system is a panacea.
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