At that time, the main currency for arbitrage transaction was yen, because the interest rate was low for yen then, and many objects of arbitrage transaction were AUD and NZD.
当时进行套利交易的货币主要是日元,因为当时日元的利率很低,有很多套利交易的标的是澳大利亚元和新西兰元。
Despite that modern option pricing theory can give an accurate describe of the interest rate movement, no arbitrage model, the equilibrium model, the martingale model all have deficit.
尽管现代期权理论能对利率运动给出“精确”描述,然而,无论是无套利模式、均衡模式还是鞅模式,均存在一定的缺点。
To arbitrage the two markets, these companies accept renminbi as payment from Chinese importers, then swap the cash into dollars at the more attractive offshore exchange rate.
为了在两个市场间进行套利,这些公司从中国进口商那里接受人民币付款,然后以更具吸引力的离岸汇率将其兑换成美元。
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