1. premium: in the money market, premium refers to adding points to the spot price to judge the forward or futures price. Corresponding discount. That is, when the quoted currency interest rate is less than the quoted currency interest rate. SwapPoint is a positive number at this time. In this case, the arrangement of exchange rate points is small left and large right.

Premium means that the forward exchange rate is higher than the spot exchange rate. In direct quotation, the premium represents the depreciation of the local currency. On the contrary, under indirect pricing method, premium represents the appreciation of local currency. For example, the spot exchange rate of RMB against the US dollar is 100 USD = 8 10.02 RMB, and if the futures exchange rate rises by 10 point, the futures exchange rate is 65438 USD = 810.2 RMB, which means RMB depreciation/kloc. or vice versa, Dallas to the auditorium

2. Discount: It means that the forward exchange rate is lower than the spot exchange rate, corresponding to "premium". Under normal circumstances, the discount of bank quotation is only two or three digits. If it is a two-digit number, it is the third and fourth digits after the decimal point. If you quote three digits, it is the second, third and fourth digits after the decimal point.

The size of the premium number and the arrangement order of the two numbers are also different according to the premium or the premium. Under the direct quotation, the large number comes first and the decimal number comes last, which is the discount. Under the indirect pricing method, the decimal number comes first and the large number comes last, which is the discount.