{"id":30567,"date":"2023-12-07T09:33:36","date_gmt":"2023-12-07T09:33:36","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phi-qua-dem-rollover-rate-la-gi-su-khac-biet-giua-phi-qua-dem-va-ty-gia-hoan-doi.html"},"modified":"2023-12-23T06:13:32","modified_gmt":"2023-12-22T23:13:32","slug":"phi-qua-dem-rollover-rate-la-gi-su-khac-biet-giua-phi-qua-dem-va-ty-gia-hoan-doi","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phi-qua-dem-rollover-rate-la-gi-su-khac-biet-giua-phi-qua-dem-va-ty-gia-hoan-doi.html","title":{"rendered":"Ph\u00ed qua \u0111\u00eam (Rollover Rate) l\u00e0 g\u00ec? S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa Ph\u00ed qua \u0111\u00eam v\u00e0 T\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i"},"content":{"rendered":"
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Hi\u0300nh minh ho\u0323a. Ngu\u00f4\u0300n: Tickertape.tdameritrade.com<\/p>\n<\/figcaption><\/figure>\n

Ph\u00ed qua \u0111\u00eam<\/font><\/h2>\n

Kha\u0301i ni\u00ea\u0323m<\/b><\/p>\n

Ph\u00ed qua \u0111\u00eam <\/b>hay c\u00f2n g\u1ecdi l\u00e0 l\u00e3i su\u1ea5t qua \u0111\u00eam<\/b> trong ti\u00ea\u0301ng Anh la\u0300 Rollover Rate.<\/b><\/p>\n

Ph\u00ed qua \u0111\u00eam <\/b>trong giao d\u1ecbch ngo\u1ea1i h\u1ed1i l\u00e0 l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a m\u1ed9t v\u1ecb th\u1ebf ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c gi\u1eef qua \u0111\u00eam b\u1edfi m\u1ed9t nh\u00e0 giao d\u1ecbch. Trong giao d\u1ecbch ti\u1ec1n t\u1ec7, nh\u00e0 \u0111\u1ea7u t\u01b0 m\u01b0\u1ee3n m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 \u0111\u1ec3 mua m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 kh\u00e1c.\u00a0<\/p>\n

Ti\u1ec1n l\u00e3i ph\u1ea3i tr\u1ea3 ho\u1eb7c ti\u1ec1n l\u1eddi ki\u1ebfm \u0111\u01b0\u1ee3c \u0111\u1ec3 gi\u1eef v\u1ecb th\u1ebf ti\u1ec1n t\u1ec7 qua \u0111\u00eam \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ph\u00ed qua \u0111\u00eam.\u00a0<\/p>\n

M\u1ed9t v\u1ecb th\u1ebf ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c nh\u1eadp sau 5 gi\u1edd chi\u1ec1u theo chu\u1ea9n gi\u1edd mi\u1ec1n \u0110\u00f4ng M\u1ef9 (EST) s\u1ebd \u0111\u01b0\u1ee3c gi\u1eef qua \u0111\u00eam.\u00a0<\/i><\/p>\n

C\u00f4ng th\u1ee9c t\u00ednh Ph\u00ed qua \u0111\u00eam\u00a0<\/font><\/h2>\n

Rqua \u0111\u00eam<\/sub> = (R\u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf <\/sub>\u2212 R\u0111\u1ed3ng ti\u1ec1n \u0111\u1ecbnh gi\u00e1 <\/sub>) \/ (365*E)\u00a0\u00a0<\/b><\/p>\n

Trong \u0111\u00f3:\u00a0<\/p>\n

– Rqua \u0111\u00eam<\/sub> l\u00e0 ph\u00ed qua \u0111\u00eam\u00a0<\/p>\n

– R\u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf <\/sub>l\u00e0 l\u00e3i su\u1ea5t c\u1ee7a \u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf\u00a0<\/p>\n

– R\u0111\u1ed3ng ti\u1ec1n \u0111\u1ecbnh gi\u00e1 <\/sub>l\u00e0 l\u00e3i su\u1ea5t c\u1ee7a \u0111\u1ed3ng ti\u1ec1n \u0111\u1ecbnh gi\u00e1\u00a0<\/p>\n

– E l\u00e0 t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i\u00a0<\/p>\n

\u0110\u1ed3ng ti\u1ec1n \u0111\u1ea7u ti\u00ean c\u1ee7a m\u1ed9t c\u1eb7p ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf v\u00e0 \u0111\u1ed3ng ti\u1ec1n th\u1ee9 hai trong c\u1eb7p \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 \u0111\u1ed3ng ti\u1ec1n \u0111\u1ecbnh gi\u00e1.\u00a0<\/p>\n

L\u00e3i su\u1ea5t c\u1ee7a \u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf v\u00e0 \u0111\u1ed3ng ti\u1ec1n \u0111\u1ecbnh gi\u00e1 l\u00e0 l\u00e3i su\u1ea5t cho vay ng\u1eafn h\u1ea1n gi\u1eefa c\u00e1c ng\u00e2n h\u00e0ng \u1edf n\u01b0\u1edbc c\u00f3 \u0111\u1ed3ng ti\u1ec1n \u0111\u00f3 l\u00e0 ti\u1ec1n t\u1ec7 qu\u1ed1c gia. \u00a0 \u00a0\u00a0<\/p>\n

C\u00e1ch t\u00ednh ph\u00ed qua \u0111\u00eam c\u00f3 hai b\u01b0\u1edbc: \u00a0\u00a0<\/p>\n

\u00a01. Tr\u1eeb l\u00e3i su\u1ea5t c\u1ee7a \u0111\u1ed3ng ti\u1ec1n c\u01a1 s\u1edf kh\u1ecfi l\u00e3i su\u1ea5t c\u1ee7a \u0111\u1ed3ng ti\u1ec1n b\u00e1o gi\u00e1.<\/p>\n

\u00a02. Chia gi\u00e1 tr\u1ecb tr\u00ean cho 365 nh\u00e2n v\u1edbi t\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i c\u01a1 s\u1edf.\u00a0<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m Ph\u00ed qua \u0111\u00eam\u00a0<\/font><\/h3>\n

Ph\u00ed qua \u0111\u00eam<\/b> chuy\u1ec3n \u0111\u1ed5i l\u00e3i su\u1ea5t ti\u1ec1n t\u1ec7 r\u00f2ng, \u0111\u01b0\u1ee3c bi\u1ec3u di\u1ec5n d\u01b0\u1edbi d\u1ea1ng ph\u1ea7n tr\u0103m, th\u00e0nh ti\u1ec1n l\u00e3i cho v\u1ecb th\u1ebf n\u00e0y. M\u1ed9t kho\u1ea3n ph\u00ed qua \u0111\u00eam \u0111\u01b0\u1ee3c t\u00ednh b\u1eb1ng ch\u00eanh l\u1ec7ch gi\u1eefa hai m\u1ee9c l\u00e3i su\u1ea5t c\u1ee7a c\u00e1c lo\u1ea1i ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c giao d\u1ecbch.\u00a0<\/p>\n

– N\u1ebfu ph\u00ed qua \u0111\u00eam d\u01b0\u01a1ng, th\u00ec n\u00f3 l\u00e0 m\u1ed9t m\u1ee9c t\u0103ng l\u1ee3i nhu\u1eadn cho nh\u00e0 \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n

– N\u1ebfu ph\u00ed qua \u0111\u00eam \u00e2m, th\u00ec n\u00f3 l\u00e0 m\u1ed9t kho\u1ea3n chi ph\u00ed cho nh\u00e0 \u0111\u1ea7u t\u01b0. \u00a0\u00a0<\/p>\n

Ph\u00ed qua \u0111\u00eam ch\u1ec9 m\u1ed9t v\u1ecb th\u1ebf \u0111\u01b0\u1ee3c gia h\u1ea1n th\u00eam v\u00e0o cu\u1ed1i ng\u00e0y giao d\u1ecbch. \u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 giao d\u1ecbch, h\u1ea7u h\u1ebft c\u00e1c v\u1ecb th\u1ebf \u0111\u01b0\u1ee3c gia h\u1ea1n h\u00e0ng ng\u00e0y cho \u0111\u1ebfn khi h\u1ecd \u0111\u00f3ng giao d\u1ecbch.\u00a0<\/p>\n

Ph\u1ea7n l\u1edbn c\u00e1c v\u1ecb th\u1ebf gia h\u1ea1n n\u00e0y x\u1ea3y ra tr\u00ean th\u1ecb tr\u01b0\u1eddng giao d\u1ecbch T\/N (Tom-next market). C\u00f3 ngh\u0129a l\u00e0 c\u00e1c v\u1ecb th\u1ebf \u0111\u01b0\u1ee3c th\u1ef1c hi\u1ec7n v\u00e0o ng\u00e0y mai (N+1) s\u1ebd \u0111\u01b0\u1ee3c k\u00e9o d\u00e0i sang ng\u00e0y kia (N+2).\u00a0 \u00a0\u00a0<\/p>\n

M\u1eb7c d\u00f9 l\u1ee3i nhu\u1eadn hay chi ph\u00ed l\u00e3i su\u1ea5t h\u00e0ng ng\u00e0y t\u01b0\u01a1ng \u0111\u1ed1i nh\u1ecf, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 nh\u00e0 giao d\u1ecbch \u0111ang mu\u1ed1n gi\u1eef m\u1ed9t v\u1ecb th\u1ebf trong th\u1eddi gian d\u00e0i n\u00ean t\u00ednh \u0111\u1ebfn m\u1ee9c ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t r\u00f2ng (Interest rate differential).\u00a0<\/p>\n

Vi\u1ec7c mua m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 sau \u0111\u00f3 b\u00e1n v\u1edbi t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t th\u1ea5p h\u01a1n v\u1eabn c\u00f3 th\u1ec3 ki\u1ebfm \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn n\u1ebfu \u0111\u1ed3ng ti\u1ec1n nh\u00e0 giao d\u1ecbch s\u1edf h\u1eefu c\u00f3 t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t cao h\u01a1n so v\u1edbi \u0111\u1ed3ng ti\u1ec1n m\u00e0 nh\u00e0 giao d\u1ecbch \u0111ang thi\u1ebfu. \u00a0\u00a0<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 Ph\u00ed qua \u0111\u00eam\u00a0<\/font><\/h3>\n

H\u1ea7u h\u1ebft c\u00e1c s\u00e0n giao d\u1ecbch ngo\u1ea1i h\u1ed1i \u0111\u1ec1u hi\u1ec3n th\u1ecb ph\u00ed qua \u0111\u00eam<\/b>, tuy nhi\u00ean vi\u1ec7c t\u00ednh to\u00e1n t\u1ec9 l\u1ec7 n\u00e0y kh\u00f4ng b\u1ecb b\u1eaft bu\u1ed9c.\u00a0<\/p>\n

Xem x\u00e9t c\u1eb7p ti\u1ec1n t\u1ec7 c\u1ee7a New Zealand v\u00e0 \u0111\u00f4 la M\u1ef9 (NZDUSD) c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 A mu\u1ed1n mua NZD v\u00e0 b\u00e1n USD. T\u1ef7 gi\u00e1 h\u1ed1i \u0111o\u00e1i t\u00ednh \u0111\u1ebfn ng\u00e0y 30 th\u00e1ng 1 n\u0103m nay l\u00e0 0.69.\u00a0<\/p>\n

L\u00e3i su\u1ea5t qua \u0111\u00eam c\u1ee7a \u0111\u1ed3ng NZD l\u00e0 1.75%. T\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t qua \u0111\u00eam \u0111\u1ed3ng USD c\u1ee7a Fed l\u00e0 2.4%. Ph\u00ed qua \u0111\u00eam cho NZDUSD = (1.75% – 2.4%) \/ (365*0.69) = -0.0026%. \u00a0\u00a0<\/p>\n

K\u1ebft qu\u1ea3 th\u01b0\u1eddng \u0111\u01b0\u1ee3c hi\u1ec3n th\u1ecb b\u1eb1ng \u0111i\u1ec3m pip n\u00ean ph\u00ed qua \u0111\u00eam c\u1ee7a NZDUSD l\u00e0 -0.0026% hay 0.26 pip.\u00a0<\/p>\n

V\u1edbi 100,000 v\u1ecb th\u1ebf danh ngh\u0129a, ph\u00ed qua \u0111\u00eam s\u1ebd l\u00e0 -2.6 NZD.\u00a0<\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa Ph\u00ed qua \u0111\u00eam v\u00e0 T\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i\u00a0<\/font><\/h3>\n

Ph\u00ed qua \u0111\u00eam<\/b> l\u00e0 chi ph\u00ed gi\u1eef m\u1ed9t c\u1eb7p ti\u1ec1n t\u1ec7 qua \u0111\u00eam c\u00f2n t\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i\u00a0<\/i>(Swap rate) <\/i>l\u00e0 t\u1ec9 l\u1ec7 l\u00e3i su\u1ea5t c\u1ee7a m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 s\u1ebd \u0111\u01b0\u1ee3c trao \u0111\u1ed5i \u0111\u1ec3 \u0111\u1ed5i l\u1ea1i l\u00e3i su\u1ea5t c\u1ee7a m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 kh\u00e1c hay t\u1ef7 gi\u00e1 ho\u00e1n \u0111\u1ed5i l\u00e0 ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t gi\u1eefa c\u1eb7p ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c giao d\u1ecbch.\u00a0<\/p>\n

Ph\u00ed qua \u0111\u00eam c\u0169ng \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 ph\u00ed ho\u00e1n \u0111\u1ed5i (Swap fee). \u00a0\u00a0<\/i><\/p>\n

H\u1ea1n ch\u1ebf c\u1ee7a vi\u1ec7c s\u1eed d\u1ee5ng ph\u00ed qua \u0111\u00eam l\u00e0 ch\u00eanh l\u1ec7ch gi\u1eefa t\u1ec9 l\u1ec7 m\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ednh to\u00e1n v\u00e0 m\u1ee9c ph\u00ed tr\u00ean s\u00e0n giao d\u1ecbch ngo\u1ea1i h\u1ed1i c\u00f3 th\u1ec3 thay \u0111\u1ed5i d\u1ef1a tr\u00ean m\u1ee9c ch\u00eanh l\u1ec7ch l\u00e3i su\u1ea5t r\u00f2ng<\/i>\u00a0<\/i>c\u1ee7a c\u00e1c lo\u1ea1i ti\u1ec1n t\u1ec7 t\u01b0\u01a1ng \u1ee9ng. <\/p>\n

(Theo Investopedia<\/i>)<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u00ed qua \u0111\u00eam (ti\u1ebfng Anh: Rollover Rate) trong giao d\u1ecbch ngo\u1ea1i h\u1ed1i l\u00e0 l\u1ee3i nhu\u1eadn r\u00f2ng c\u1ee7a m\u1ed9t v\u1ecb th\u1ebf ti\u1ec1n t\u1ec7 \u0111\u01b0\u1ee3c gi\u1eef qua \u0111\u00eam b\u1edfi m\u1ed9t nh\u00e0 giao d\u1ecbch. Trong giao d\u1ecbch ti\u1ec1n t\u1ec7, nh\u00e0 \u0111\u1ea7u t\u01b0 m\u01b0\u1ee3n m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 \u0111\u1ec3 mua m\u1ed9t lo\u1ea1i ti\u1ec1n t\u1ec7 kh\u00e1c.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30567"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=30567"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30567\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}