That is why high-interest currencies trade at a discount to their current or "spot" rate in forward markets.

这就是为什么在远期合同中高利率货币交易总是在现时价格或点数上打折扣的原因了。

youdao

So spot rate is for immediate delivery and forward rate is for delivery later.

所以即期汇率就是在即期交易时的汇率，而后者就是在期货交易付的汇率。

youdao

That is to say, estimation of the FX rate in the future by spot rate has a better effect than that by forward rate.

也就是说，用即期汇率预测未来汇率变动的效果要比远期汇率预测回来汇率变动的效果更好。

youdao

So pessimistic are traders about that currency that the forward is priced at a 9% discount to the spot rate.

FORBES: Short the West