(2) If the spot exchange rate of USD/RMB is 6. 1250, the three-month forward exchange rate is 6. 1650.

(3) If it is expected that the US dollar will greatly appreciate against RMB in the future after 3 months, you can make a forward contract to buy the US dollar delivered after 3 months, and the transaction exchange rate is 6. 1650.

(4) After 3 months, no matter what exchange rate the US dollar rises to, customers will buy US dollars at the exchange rate of 6. 1650. Because of the difference between the forward exchange rate and the spot exchange rate, in this example, the cost of buying dollars in the forward direction is relatively high.

1. Spot foreign exchange transaction: Also known as spot foreign exchange transaction, it refers to the foreign exchange transaction mode in which both parties agree to handle the delivery within two working days after the transaction.

2. Forward transactions: also known as forward foreign exchange transactions, foreign exchange transactions are not delivered after the transaction, but are delivered at the time agreed in the contract.

3. Arbitrage: Arbitrage refers to a foreign exchange transaction that uses different foreign exchange markets, different currencies, different delivery times and differences in exchange rates and interest rates of some currencies to buy from the low-priced party and sell from the high-priced party to earn profits.

4. Arbitrage trading: a trading method that uses the interest rate difference between the two countries' money markets to transfer funds from one market to another to earn profits.

5. Swap transaction: refers to a transaction that combines two or more foreign exchange transactions with the same currency but opposite trading directions and different delivery dates.

6. Foreign exchange futures: The so-called foreign exchange futures refer to futures contracts with exchange rate as the subject matter to avoid exchange rate risks. It is the earliest financial futures product.

7. Trading of foreign exchange options: foreign exchange options are traded in foreign exchange, that is, the option buyer obtains a right after paying the corresponding option fee to the option seller, that is, after paying a certain amount of option fee, the option buyer has the right to buy and sell the agreed currency at the exchange rate and amount agreed by both parties in advance on the agreed expiration date, and the buyer with the right also has the right not to execute the above-mentioned sales contract.

8. In the future, there will be a foreign exchange trading platform jointly established by banks and Internet investment companies to reduce unnecessary costs for personal investment.