Europe started a long process towards monetary union, via an exchange-rate mechanism, which resulted in a single and free floating currency 30 years later.
欧洲开始了通过一项汇率机制迈向货币统一的漫长过程，30年后，它们拥有了一种自由浮动的单一货币。
Mr Bernanke calls for greater exchange rate flexibility in the long run but acknowledges that it cannot be achieved overnight.
伯南克呼吁最终提高汇率的灵活性，但他承认，这不可能一蹴而就。
Mr Gourinchas doubts that depressing the exchange rate could sustain a high rate of saving for long.
Gourinchas对此提出质疑，并表示压制汇率将会使高储蓄水平长久地维持下去。
On your second question, China adopts a managed floating exchange rate regime, which serves the long-term and fundamental interests of China.
关于第二个问题，中国实施有管理的浮动汇率制度，这一机制符合中国长远和根本的利益。
They learned how such arrangements could backfire long before investors fled Asia in 1997, spreading turmoil and eventually forcing Brazil to abandon its exchange-rate peg.
早在1997年投机客逃离亚洲以前，他们就学会了怎样安排可能会产生不良后果，前次亚洲金融风暴蔓延快速，最后还迫使巴西放弃紧钉美元的汇率。
The yuan has risen 3.2% against the dollar since June 19, when China pledged to increase exchange-rate flexibility, effectively ending a two-year-long peg to the dollar.
人民币对美元懂6月19日以来已经升值了3.2%，当时中国承诺提高汇率灵活性，事实上结束了长达两年的盯住美元策略。
In view of this project payment in US Dollar, a long payment period and flexiable exchange rate, I propose that every payment should be effected according to the actual exchange rate on that day.
由于业主本次工程款全额支付美金，考虑到整个付款周期跨度较长及汇率浮动的因素，本司建议每个阶段的工程款按照当日银行规定的汇率进行兑换支付。
All this indicates that the long-term trend of the RMB exchange rate against the US dollar will be steady (small step) appreciation.
这些都预示着，人民币对美元汇率的长期变化趋势，也是稳步(小步)升值的。
Exchange rate fluctuations on UNHCR operations are in the long run "neutral".
从长远来看汇率波动对难民署的业务会起到“中和”作用。
The empirical analysis of domestic and international research show that rate of exchange has not effect on export over a long period of time.
国内外的一些实证研究表明，汇率对出口没有长期的显著影响，对中国出口数据所做的经济计量分析也证明了这一结论。
A devaluation leads to a real depreciation in the short run but has no effect on the real exchange rate in the long run.
贬值导致了短期内真实的跌价，但是它对长期实际汇率并无影响。
Then, the paper analyzes the harm of RMB exchange rate misalignment, the reason of long-run undervaluation, and sustainability.
然后，本文分析了汇率失调的危害、长期低估的原因和可持续性。
The RMB is now included in the IMF SDR basket of currencies and the RMB exchange rate will remain basically stable at an adaptive and equilibrium level for the long run.
人民币已经加入国际货币基金组织特别提款权货币篮子，人民币汇率将长期在合理均衡水平上保持基本稳定。
With adaptation of global economy's unification, global exchange rate institution has undertaken the evolution for a long time and formed a certain system.
与全球经济的一体化相适应，全球汇率制度经过漫长的演变而形成一定的体系。
Thee Asian financial crisis of the late 1990s taught emerging markets a lesson: Trying to maintain a fixed exchange rate can lead to catastrophe if a country holds on too long.
上世纪90年代末的亚洲金融危机给新兴市场国家上了一课：如果一个国家实行固定汇率制的时间太长，会因此而走向灾难。
I want you to advise the forecast on the foreign exchange market and on how long America's high interest rate will be keep.
我希望你能就外汇市场及美国的高利率将持续多久的预测提出建议。
For a long time, the forming and regulating mechanism of RMB exchange rate are short of equilibrium exchange rate.
长期以来，人民币汇率的形成与调节缺乏均衡汇率。
But in the trend of long-term appreciation of the RMB, only financial hedging can not deal with exchange rate risks, which will be long-standing challenges.
但是在人民币长期升值的趋势下，仅使用金融性对冲，已不能应对汇率风险长期存在的挑战。
The higher exchange rate of the euro should have a moderating effect on inflation developments which will mainly materialise over a fairly long period of time.
欧元升值则会缓和通货膨胀的压力，但需经过一个相当长的时期，其效果才能充分显现出来。
Throughout this long period, China ran a large current account surplus, and a private sector capital surplus, but did not want the exchange rate to rise too rapidly.
在这段很长的时期内，中国运行着巨大的经常账户顺差以及私人部门资本盈余，但不希望汇率升高得过快。
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。
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。
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