But exchange rates mattered more.
外汇会出现更多的问题。
Time for freely floating exchange rates.
自由浮动汇率制的时代到来。
Exchange rates are shifting travel patterns.
汇率改变了旅游模式。
Surrogate exchange rates have their problems too.
替代汇率也有自身的问题。
But this is mainly a world of floating exchange rates.
但这是个汇率浮动的世界。
That makes exchange rates an especially sensitive topic.
这也就使得汇率成为一个极为敏感的话题。
The answer depends on how the exchange rates are calculated.
答案取决于如何计算汇率。
Furthermore, shifts in exchange rates, when they came, tended to be big.
此外，所产生的汇率变动往往幅度较大。
Even in quiet times, predicting the paths of exchange rates is a fool's errand.
即便在市场平稳的时候，预测汇率走势也是一件费力不讨好的事。
That is a sign of very adept marketing, as exchange rates and incentives change.
这是一个市场运作非常娴熟的迹象，伴随着汇率和激励措施的变动。
Worries about exchange rates, he argues, cause central Banks to veer off course.
他认为，对于汇率的担忧已经使央行们偏离了正轨。
Even Milton Friedman, a fervent advocate of floating exchange rates, thought so.
即使是浮动汇率的狂热拥趸米尔顿·佛里德曼，也这样认为。
European nations, in particular, maintained a hankering for fixed exchange rates.
尤其是欧洲诸国，一直希望应用固定汇率制度。
In fact, exchange rates have been more volatile than Friedman might have expected.
实际上，汇率比弗里德曼预想的更加不稳定。
The rise in Latin America’s exchange rates has been more dramatic—indeed excessive.
拉美国家汇率上升的更加引人注目——实在有点过度。
The end of Bretton Woods I was followed by a period of floating exchange rates.
在布雷顿森林体系I终结后，随之而来的是一个浮动利率时期。
Central Banks in many countries intervene in currency markets to manage exchange rates.
很多国家的央行都通过干预外汇市场来管理汇率。
The issues surrounding foreign exchange rates are making a lot of headlines these days.
近日来，围绕外汇汇率的话题持续受到媒体的争相报道。
Giving up the ability to adjust exchange rates, they warned, would invite future crises.
他们警告说，放弃调节汇率的能力会招致将来的危机。
Many of them are absorbing US inflation as well, and need to raise their exchange rates.
这些国家之中很多也吸收了美国通胀影响，并且需要提高他们的汇率。
Second, the company needs to reduce its exposure to fluctuating euro-dollar exchange rates.
其次，该公司需要减少由欧元兑美元汇率浮动带来的损失。
As countries get richer and their productivity rises, their real exchange rates appreciate.
随着国家变得富裕，生产力水平提高，实际汇率也会水涨船高。
We argued that floating exchange rates would cause less disturbance than the fixed-rate regime.
我们认为，浮动汇率引发的动荡会比固定汇率少。
We argued that floating exchange rates would cause less disturbance than the fixed-rate regime.
我们认为，浮动汇率引发的动荡会比固定汇率少。
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