III. Answer the questions:

When was hryvnia introduced?

What was the name of a temporary bill in Ukraine?

How old is the name of "hryvnia"?

Who and when tried to introduce new hryvnia currency?

What do you know about hryvnia protection?

What is there on the face side of bills of all denominations?

What can you see on the backside of hryvnia?

IV. Translate into English:

День Незалежності, рубльова зона, валюта, зробити спробу, обіг, вільноконвертована валюта, пункт обміну валют, захисні шари, захист від підробки, водяні знаки, номінал, мати цінність.

Financial centres (markets)

I. Study the vocabulary:

trade (v)		торгувати (чимсь- in;)
stock market		фондова біржа
commodity market		товарна біржа
foreign exchange (forex) market		валютна біржа
interest rate		позиковий процент/відсоток
raise capital (v)		збільшувати капітал, залучати капітал
securities		цінні папери
market-maker		дилер, який проводить операції з цінними паперами
stockbroker		біржовий маклер/брокер
bond		облігація
bull market		ринок акцій, на якому підвищуються ціни; ринок “биків”
bear market		ринок акцій, на якому знижуються ціни; ринок “ведмедів”

II. Read and translate the text.

Financial centres bring together investors and the businesses that need their investment.

Things traded in financial centres include: securities on the stock markets; commodities such as cereals, coffee and precious metals on the commodity markets, currencies on the foreign exchange or forex markets.

The stock market is the financial centre of any country. It reflects any change in the economy. It is sensitive to interest rates, inflation and political events. In a very real sense, it has its fingers on the pulse of the entire world.

The stock exchanges exist to allow investors to buy and sell shares, and companies to raise capital. They also provide a market for government loans and securities. On the market, the main operators are the market-makers who trade in a group of shares, and stockbrokers who act as agents for their clients. Market-makers sell to stockbrokers.

A share (BrE) or stock (AmE) is any of the equal parts into which the capital of a company is divided. Securities are shares and bonds (official papers given by a company or the government, to prove that you have lent them money and that they will pay it back with interest).

When prices in a stock market or currency market are rising people talk about a bull market. When prices are falling people talk about a bear market.