远期差额 Forward Margin，Forward differential：即期汇率与远期汇率之间存在一差额，即远期差额。远期差额的表示方法有:升水、贴水、平价 .
报远期差额，不报远期汇率是有其道理的。
Quoting for ward differentials rather than forward rates has its reasons.
首先，即使即期汇率海浮动时，远期差额通常保持不变，报升水、或贴水而不是远期汇率，所需变动较少。
First, forward differentials very often remain unchanged even when the spot rates experience fluctuations, quoting premiums or discounts rather than the forward rates thus require fewer changes.
期率是指远期交易率和即期交易率之间的差额。
The swap rate is the margin between the forward exchange rate and the spot rate.
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