chương 3 tỷ giá hối đoái

Nhóm A+ - dh28nh04
Tài chính quốc tế


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 !
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"#$%& !
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'( ) !
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*+,-!.#/
1. Khái niệm tỷ giá hối đoái
 
"$#/012/3- !
/4!
1.1 Khái niệm
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5+/3-!6 %'/ !12 )789:;
<=/3- ) >5-?!,@ )<-
AB=C"DDDD<=
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/E(FG0H!"///GI?-G

)J K,#9)JL
<=AB=9<="DDDD

)JL9)J K,#
<=<="DDDD9AB=
1.2 Giá trị cân bằng của Tỷ giá hối đoái
-MGJ

N
$! OPQ$#/3-AB= !12<=
RQS%'/GAB=

L/T
Cầu tiền tệ là một đường dốc xuống
H!,L.UN
Q/.!-(<-?V/OWG%@G-+O-/3-%@/XLKY
$#/3-AB=$Z[/OQ\G/MG<-,JAB=F
Q%'/56].!-(<-?VG-+O-%@/XJGKY$#/3-
AB=$Z[$^ Q\MG<-,JAB=_
`a$+YPFWGP"NR/b_5[R"
1GJ
N"
$! O8P;Q/3-AB=L12<=
B5%'8R;QS%'/GAB=

L/T
Cung ngoại tệ là một đường dốc lên
H!N"
Q AB=/-!]%&X?V/OWG%@GG-+O-<-JGK
Q\GAB= E c5Td<=Q\_/GAB=
Q AB=$^ ]%&X6/eG-+<-56Q\F/GAB=
//012
N
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/GAB=-!,@/MGAB=?V6!$-$-$#/012/3- )
AB=L12<=8/012;

eG$[ E/012]/G\/MGQ\N$6eGUAB=


eG.%@ E/012]/MG\/GQ\N$6.%f-AB=
Q/012?V1e 7,+ 6 %'//012>gG--!.#/$[:!$HW
QGd[7deGF%Z YE e/0125+TÍNH THANH
KHOẢN CỦA ĐỒNG TiỀN
-L-Y!F/3- )J$[#$%&!6AB=]hG$!]i
)J/OL-Y!FT(<=]j-
- 7 )J/OL-/-!?VL6d,@?kWGT/3-5%'G--d1
K5^5!6J O,@gGd>5@%i )J/OL-Y!FT(?V
/#GF%Z$T5@YWGTgGd>-!.#/5@
1.3 Tỷ giá chéo
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$#/3- )1FlL12 >5-X8 m$[/
7/3-%&<-]O %'/n5+/4!(UG7/,+!/MG
/3-%&X e1Fl,+/G1Flf%@/l
<=lC*DDDD<=9hG$!]jC"DDDD<=9AB=
Q\$#/3- )1FlL12 >5-XBCl9jC
"AB=9hG$!0d5+/4!$!Y mZ/ 7
<-

eGl,+j_8F;7m/%-GQ\/4!BY> c8/3-
)1Fl,+AB=%-G

eGl_7m/5@KjQ\/4!B_8/3- )1Fl/O
KAB=;

eGl_7m/oKjQ\/4!BF8/3- )1Fl1#
F?!,@AB=;

eGl_8F;$!YjY> cQ\/4!B_8F;12m/

_8F;/3-l8/3- )1Fl/O81#F;?!,@AB=12 71e
[/3-l;

eGl_+jFQ\/4!B_8/3- )1Fl/OK
AB=;

Bk1e c/4!
Bk1[ cC
Bk1[ c !/4!(UG7/,+!%K6gG/e,+.p
,+/Li-"gG/-"deG+dF%Z/G/MGJQ\
5+-d c/012/3-" )JQ\/4!/b-d c
Pqr`s
Tình trạng tỷ giá hối đối Việt Nam

Chủ động định hướng thị trường
ftgGut<9"D] EYE?!Yvt,n]O((Mtct #t]t%&
WGd[ %-$-///-Ye,J,/e(U/.Gd$Nc #$!f&Yv
,@m/1e 7$!Y!Fw- !6/G_"D,+"Qw9_/!//
_"D",+"D
S

Giảm dần tình trạng đô la hóa
Q $!K"_gG-] x JG+/L?/J7///y
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Tài liệu tham khảo
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