Vocabulary on the text

banknote, n – банкнота

be equal to – равняться ч-л

be in circulation – быть в обращении

body, n – совокупность

coin, n – монета

currency rate – курс валюты

denomination, n – достоинство

feature, v, – изображать

foreign exchange market – рынок иностранной валюты

mint, v, – чеканить

portray, v, – рисовать портрет, изображать

Phonetic and lexical exercises

1. Classify the words according to the type of their reading.

Trade, such, there, exist, world, term, use, first, serve, far, rate, based, more, long, just, due, gross, whole, spend, since, force, back, close, hard, take, drop, plan, space, jump, peg.

2. Read the following words and word combinations. Be sure you know their meaning.

Intermediary, medium of exchange, medium of payment and credit, unit of account, foreign, foreign exchange market, forex market, exchange rate, transaction demand, speculative demand, synthetic futures, gross domestic product (GDP), fraction, downward, peg, express, retain, correlate, adjust, accommodate, undermine, announce, dismiss, uncertainty, deliberately.

3. Complete the table with the derivatives.

Verb	Noun	Adjective	Adverb

Money, possible, current, able, possibly, speculate, currently, monetary, speculative, day, speculation, value (2), press, ability, daily (2), be able to, speculatively, possibility, valuable, pressure, currency, speculator, make possible.

4. a) Study the following information.

Для описания изменений в каких-либо показателях в английском языке используются следующие глаголы:

Колебаться – float, fluctuate

Расти, подниматься – rise, increase

Резко возрасти, подскочить – jump

Понижаться – reduce, decrease, decline

Резко снизиться, упасть – drop, fall

b) Complete the sentences with the verbs from (a) in the appropriate form.

1. Analysis shows that total revenues ____ from US$1.5 trillion to $1.9 trillion.

2. Foreign exchange rates ___ .

3. Gross domestic product ___ dramatically.

4. The average daily trade ___ .

5. Inflation ___ greatly compared to the previous year.

6. Living standards ___ .

7. Transaction demand for money ___ .

8. Production and output also ___ .

9. All the other indicators ___ .

10. The whole economic system ___ .

Grammar exercises

5. Translate word combinations paying attention to nouns as attributes.

Currency relations, world economy, currency systems, currency functioning, foreign exchange markets, currency speculations, forex markets, exchange rate, two components currencies change, transaction demand for money, business activity, employment level, money supply, business transactions, interest rate, space mission.

6. Change the sentences from Active into Passive.

1. The enterprise issued two kinds of securities last month.

2. Stock exchanges provide services and markets for their clients.

3. The London Stock exchange has been buying and selling securities for two centuries.

4. Legal forms implemented in 1986 have changed the Exchange.

5. The use of computers and telephones links stock markets all over the world.

6. The client implemented a transaction efficiently and left the Exchange.

7. In the text “FOREIGN EXCHANGE” 1) State the functions of non-finite forms of the verb. 2) State the tense forms of the predicates.

8. Read the text “FOREIGN EXCHANGE” and translate it into Russian.

Vocabulary and Comprehension Exercises

9. Give Russian equivalents.

As a result; world economy; open economy; currency system; a unit of account; a medium of payment; medium of exchange; national currency; foreign exchange markets; currency rate of exchange, monetary units; pound sterling.

10. Give English equivalents.

Чеканить, достоинство, регулироваться, способность служить, обменивать, финансовый рынок, равняться чему-либо, изображать, двадцатифунтовая банкнота, находиться в обращении, создавать, на всех банкнотах написано.

11. Choose synonyms (antonyms) from the following list.

Intermediary, operation, to exist, to show, essential, to establish, legal, necessary, demand, relation, minor, to found, to hide, middleman, supply, needed, important, illegal, to be, action, unnecessary, to demonstrate, connection, to create, to unsettle.

12. Insert prepositions.

A. 1. Relations … economies … different states are performed … trade.

2. To pay … import … goods it is necessary to have foreign currency.

3. It is possible to exchange national currency … a foreign one … foreign exchange markets.

4. The demand and supply … a currency depend … its price.

5. Currency rate of exchange is expressed … monetary units of some other country.

6. One pound sterling is equal … 100 pence.

7. … the face of English banknotes one can read the denomination given both … figures and … words.

8. American dollar is subdivided … 100 cents.

B. The foreign exchange market is a worldwide decentralized over-the-counter financial market … the trading of currencies. Financial centers around the world function … anchors of trading … a wide range of different types … buyers and sellers around the clock, … the exception … weekends. The foreign exchange market determines the relative values of different currencies.

The primary purpose … the foreign exchange market is to assist international trade and investment, … allowing businesses … convert one currency to another currency.

… a typical foreign exchange transaction a party purchases a quantity… one currency … paying a quantity … another currency.

Keys:B., for, as, between, of, with, of, of, by, to, in, of, by, of.