“套利交易”对于从事国际外汇市场交易者来说已经烂熟于心了,但对于国内投资者而言基本是一个新概念。人民币实行有管理的浮动汇率制才过两年,升值趋势与日强化,波动区间不断扩大,看似平静的市场为投机者留下了套利的空间。“套利交易”这个被投机者作为逐利的赚钱工具看准的是货币利率还是货币币值?面对国际套利趋势的强化,我们将如何防范? “Carry trade” is well known to traders working in international foreign exchange markets, but is basically a new concept for domestic investors. The implementation of a managed floating exchange rate system of the People’s Bank of China only took two years. The trend of appreciation and the strengthening of Japan have kept expanding the range of fluctuation. Seemingly calm market has left room for speculators arbitrage. “Arbitrage transaction ” This speculation as a profit-making profit-making tool is targeted at the monetary interest rate or currency value? Faced with the strengthening of the international arbitrage trend, how will we prevent?