Foreign exchange is by definition
foreign to the holder; otherwise, it would be domestic exchange or in modem
practice, local currency and legal tender. Foreign exchange typically is not
legal tender and is therefore not acceptable in exchange for goods and services
to whom it is being offered; hence, the desire to exchange it into something
closer to home in terms of acceptability. Foreign exchange markets are nearly
always markets that convert issues of foreign money for local units. The New
York foreign exchange market, for example, is essentially a market for exchange
foreign currencies against the US dollar. It is possible in New York to exchange
French francs for Swedish kronor, but the normal practice would be to sell
French francs for U.S. as a first step and then to sell US dollars and buy
Swedish kronor as a second step in order to complete the transaction. Markets in
other countries would be similar in structure and mechanical
operation.
单选题
Foreign exchange is convertible currency but foreign to the holder.
【正确答案】
A
【答案解析】文中一开始就说出Foreign exchange is by definition foreign to the holder...，接着第三句指出Foreign exchange markets...that convert issues of foreign money for local units.
单选题
The reason that foreign exchange markets exist is because people have a strong desire to get foreign currencies to travel round the world, to buy goods produced in other countries.
【正确答案】
C
【答案解析】第二句末尾部分the desire to exchange it into something closer to home in terms of acceptability , 并没有提及题中的to travel round the world, to buy goods produced in other countries.
单选题
The New York foreign exchange market is a market for exchanging foreign currencies against any convertible currencies.
【正确答案】
B
【答案解析】文中第四句The New York foreign exchange market, for example, is essentially a market for exchange foreign currencies against the US dollar. 可以看出。