Exchange rates float, far more debt is denominated in domestic currency and reserves are fatter.

汇率浮动，更多的债务以本币计价，并且，外汇储备充裕。

Direct quotation is the price in a unit of foreign currency expressed in domestic currency.

直接报价是以本国货币表示的外币单位的价格。

Indirect Quotation is the price in foreign currency for a fixed amount of domestic currency.

间接报价是指固定金额本币的外币价格。Reraluation 升值 Devaluation 贬值。

And inflation, already rising in emerging markets, may become more sensitive to any falls in domestic currencies.

新兴市场已经上升的通胀可能对本国货币的任何贬值变得更加敏感。

Currency substitution refers to a monetary phenomenon in which foreign currency enters the domestic circulation and acts as all or part of the functions of domestic currency.

货币替代是指外国货币进入国内流通，承担本国货币全部或部分功能的货币现象。