远期结售汇业务的实证调查及启示:以汕头为视角

Investigation of and Insights from the FX forwards business:Shantou case

文章以汕头远期结售汇业务的实证调查为例,介绍了外汇指定银行远期结售汇业务的运行特点,从市场定价角度分析了制约远期结售汇业务发展的主要问题,指出定价偏差、交易成本较高等因素影响了企业对这一避险品种的认可,并从企业、银行、外汇管理部门三个层面提出相应建议,以期有效发挥远期结售汇的避险功能。

This paper investigates the foreign exchange forwards business in Shantou, and summarizes the performance features of FX forwards by designated FX banks. It analyzes the major problems affecting the development of FX forwards from the view of market pricing, and concludes that inappropriate pricing and high transaction costs impact enterprises＇ acceptance of this anti-risk product. It finally makes some suggestions for enterprises, banks and FX administration authority pertaining to a better use of this risk control product.