overvalued currency

高估通货，定值过高的货币

双语例句

The cycles both countries experienced are extremely similar to the damage wrought by an overvalued currency in Greece, Italy, Spain, Portugal and Ireland. 阿根廷和拉脱维亚经历的经济兴衰与希腊、意大利、西班牙、葡萄牙和爱尔兰因货币高估而受到的冲击何其相似。

But South Korea, whose authorities frequently warn of an overvalued currency, has both added to reserves and built up long positions in foreign currency forwards against the won – a form of intervention that does not show up in headline reserves data. 但韩国既增加了外汇储备，又建立了外币兑韩元的多头头寸，后一种干预方式不会体现在整体储备数据之中。韩国外汇管理机构曾屡次警告韩元被高估。

The scale of modern speculative capital flows is such that there is probably no currency reserve large enough to sustain the price of a clearly overvalued currency. 当代投机资金流的规模极其庞大，可能没有任何一个国家的外汇储备大到足以维持一种明显被高估的货币的币值。

And those countries, notably Brazil, that have wound up holding the baby of an overvalued currency, are trying to restrict inflows. 而那些最终落得本币被高估的国家（特别是巴西）正试图限制资金流入。

To maintain an overvalued exchange rate, China in the mid-1980s introduced a foreign exchange certificate to ration foreign currency. 为了维持被高估的汇率，中国在上世纪80年代中期推出了外汇券来限量供应外汇。

That Beijing had maintained an overvalued renminbi for half a century may come as a surprise to westerners who have grown accustomed to grumbling that an undervalued currency gives Chinese manufacturers an unfair advantage. 中国在半个世纪的时间里维持被高估的人民币汇率，这一事实可能让已习惯于抱怨人民币汇率被低估赋予中国制造商不公平优势的西方人感到意外。

From a macro standpoint, a low savings rate and an overvalued currency are putting pressure on growth rates and on the competitive position of the economy hence the drive to push leverage into the system in order to prop up growth rates in line with BRIC peers. 从宏观角度看，低储蓄率和汇率高估正在对巴西的增长率和经济竞争力造成压力因此有必要推动金融体系举债经营，以支持增长率与其它金砖国家相符。

The exchange rate, adjusted for inflation, is now 47 per cent higher than its average rate over the past decade, making the Brazilian real the most overvalued currency in the world. 根据通胀因素调整后，巴西目前的汇率水平比过去十年的平均汇率上升了47%，使雷亚尔成为了全球被高估最多的货币。

First, it is dangerous to try to maintain an overvalued currency. 第一，试图将某种货币维持在被高估的水平上是危险的。

The rest of Europe would become competitive and could grow its way out of its difficulties but Germany would find out how painful it can be to have an overvalued currency. 欧洲其它国家将会变得具有竞争力，从而依靠增长摆脱困境，但德国将会发现，拥有一个币值过高的货币是多么地痛苦。

Mario Draghi, head of the European Central Bank, said last week that while the euro was not yet overvalued, the central bank was monitoring the strength of the currency, leading investors to expect a further rate cut in the eurozone. 欧洲央行行长马里奥德拉吉（mariodraghi）上周表示，虽然欧元目前尚未被高估，但央行一直在监测欧元币值，投资者由此预计欧元区将会进一步降息。

On the one hand, an overvalued currency would make the transition from an export-led strategy abrupt and painful. 一方面，由于货币被高估，转变出口导向战略将是突然和痛苦的。