Nguyễn Ngọc Phan Văn

1. DApAN
HQC PHAN: TAl cHiNH ouoc TE
Ma hoc phAn: 4023310
Khoa:Ol
- SBtin chi: 03
- D~i hQch~chinh quy
Cfiu 1:(2 di~m) (chamthea y)
Nguon v6n ODA la mt)t nguonngoai 19cquantrong giup cacmroc ti6p nhanthirc hien cacchien
hroc phattrien kinh t6 xii ht)i cuaquoc gia minh.Tuy nhien, cacnguonv6n ODA cling co nhirngmat
trai cuano boi vi ngoai tinh iru diii ra r~t ve thai hanchoyay dai, thai han anhan lau, mire Hii su§.t
th§.p...thi banch§.tcuaODA la mQt khoan yay clnr khong phai khoan vi~n trQ'khdng hoan I~i hoan
toan va vi~c yay nQ'ODA doi khi kern theo nhfrng di~u ki~n rang bUQckhi~n cai gia phai tra tang
len dang k~ n~u ODA khdng dU'Q'csu dung hi~u qua nhir: lam tang ganhnangng qu6cgia, l~ thut)c
chinh trj vao nhatai trg.(O,Sdi€m)
Nhfrng bit IQ'ikhi nh~n ODA th~ hi~n a ch6 khi cac nU'O'cgiau vi~n trQ'mQtkhoan vBn
ODA d~u g~n v6'i nhfrng IQ'iich va chi~n IU'Q'cco IQ'icho hQnhU'rna rQngthi trU'Ong,rna rQnghQ'p
tac theo hU'6'ngco IQ'icho minh, dam bao mlc tieu v~ an ninh - quBcphong hoic theo duai mlc
tieu chinh tri ...Vi v~y, cac nU'O'cvi~n trQ'd~u co chinh sachrieng hU'6'ngVaGmQtsBlinh V1}'Crna
hQquan tam hay hQco IQ'ith~ t~i cac nU'O'cnh~n vi~n trQ'(nhUngmlc tieu uu tien naythay d6i cung
vai tinh hinh phattri€n kinh t6 - chinh tri - xii ht)i trong nuac, khu vgc va tren th6 giai) chu chU'ahin
la co IQ'ihoan toan cho cac nU'O'cnh~n vi~n trQ'.(O,Sdiem)
.:. Cho vi du din chung: (ldi~m) (chim theo y, tuy din chung)
• V8 kinh t~, nuae ti~p nh~nODA phai ch~p nh~n dO'bi) din hang rao thu~ quan bao hi) cae
ngimh cong nghi~p non tre va bang thu~ xuit nh~p khiu hang hoa cua nU'O'ctai trQ'.Nuac ti6p
nh~nODA cling dugc yeu cAutirng buac mo cirathj truang baoht) chonhUngdanhmlc hanghoamai
cuanuac tai trg; yeu d.u co nhUnguu diii d6i vai cacnha dAutu trgc ti6p nuac ngoai nhu ehophephQ
dAutu vao nhUnglinh vgc h~nch6,co kha nangsinh lai cao.
• NguAn vBn ODA tir cac nU'O'cgiau cung c§p cho cac nU'O'cngheo cling thU'Ongg~nv6'i vi~c
mua cac san phim tir cac nU'O'cnay rna khong hoan toan phil hQ'P,th~m chi la khong cAnthi~t dBi
vO'icac nU'O'cngheo. Vi nhu cacdg an ODA trong linh vgc daot~o, l~p dg anva tu v§.nky thu~t,phAn
tra cho cac chuyengia nuac ngoai thuang chi6m d6nhcm90% (ben nuac tai trg ODA thuang yeu cAu
tra luang cho cac chuyengia, c6 v§.ndg an cuahQqua cao so vai chi phi thgc t6 cAnthue chuyengia
nhu v~y tren thj truang lao dt)ngthe giai).
• NguAn vBn vi~n trQ'ODA con dU'Q'cg~n v6'i cac di~u khoan m~u dich dic bi~t nh~p khiu
tBi da cac san phim cua hQ.Cl thS,nuac c§.pODA but)c nuac ti6p nh~n ODA phai ch§.pnh~nmt)t
khoanODA lahanghoa,djchvldo hQsanxu§.t.
• NU'O'cti~p nh~n ODA tuy co toan quy~n quan Iy su dlng ODA nhU'ngthong thU'Ong,cac
danh mlc d1}'an ODA cling phai co S1}'thoa thu~n, dAng y cua nU'O'cvi~n trQ', du kh6ng trgc tiep
diSuhanhdg annhunghQco thStham gia gian tiep duai hinh thuc nhathAuho~ch6 trg chuyengia.
• Tac dQngcoa y~u tBtY gia hBi doaico th~ lam cho gia tri vBn ODA phai hoan I~i tang len.
• Ngoai ra, tinh tr~ng thit thoat, lang phi; xay d1}'Dgchi~n IU'Q'c,quy ho~ch thu hut va su
dlng vBn ODA VaGcac linh v1}'cchU'ahQ'PIy; trinh dQquan ly thip, thi~u kinh nghi~m trong qua
trinh ti~p nh~n cling nhU'xu Iy, di~u hanh d1}'an.•• khi~n cho hi~u qua va chit IU'Q'Dgcac cong
TRANG21S MD 090S14001_ _TCCO_TCQT_DHCQ_A2,4

2. trinh d§u tu bing ngu6nvan nay con th§p... co th~ d§y nunc ti~p nhin ODA vao tinh trangno
n§n.
Tom lai, viec sir dung ODA la m<)tsu danhd6i, viec ti~p nhanODA nhieu hon cangcanphai di doi
voi su dung hop ly, ti~t kiem va hieu quanguon v6n nay. Cac nha quan ly va cacdan vi sir dungv6n
ODA dn phai co nhttng chinh sachva hanh d<)ngcu th€ nhamphat huy nhimg th~ manh,han ch~toi
rmrcthApnhAtnhtrnganhhuang bAtIQ'icuaODA.
Cau 2: (1 di~m)
a/ Khoan d~uilltren cuaViet Nam vaothi wang CamBodiasinh liii chonendi€n giai viec
hachtoanvao BOP cuaViet Nam va CamBodianhu sau:
D6i voi Vi~t Nam, phantiSn g6c dauilltai CamBodiathShi~n lu6ng tiSnchayra, nenduQ'Cghi
NQ'(-) vao cancanv6n va tai chinh. Phanlai thu duQ'ctil d~uillt~i CamBodiath€ hi~n lu6ng tiSnchay
vao, nenduQ'cghi Co (+) vao cancanvang lai (ClthS:cancanthu nh~p).(0,25diSm)
D6i vai Campodia,phantiSn g6cnh~nduQ'cd~uilltil Vi~t Nam th€ hi~n lu6ng tiSnchayvao,
nen dUQ'cghi Co (+) vao cancanv6n va tai chinh.Phanlai thu duQ'ctil dauillphai tra l~i choVi~t Nam
thShi~n lu6ng tiSnchayra, nenduQ'cghi NQ'(-) vao cancanvang lai (ClthS:cancanthu nh~p).(0,25
diSm)
bl N~u co m<)th~ngmlc trong cancanvang lai (CA) clla Vi~t Nam co gia tri la -100 tri~u U8D,
ruc la phan aM lu6ng tiSn duQ'cchi ra kh6i Vi~t Nam nen duQ'cghi NQ'(-) trong BOP. DiSu nay phan
anhcaungo~it~ (cung n<)it~) tang tren FX, diSuco tac d<)nglam tang gia tri d6ngngo~it~ va giam gia
tri d6ngn<)it~.Do do, lam ty gia h6i doai giua U8DIVND tang.(0,5diSm)
Cau 3: (2 di~m)
NHTW canthi~p tren FX thong qua hallh vi mua ban i1go~it~ (d6i ung lein<)it~). Khi NHTW
thlc hi~nhanhvi banngo~it~ lam tang cung ngo~it~ (8) tren FX, diSunay la dich chuySnduang cung
ngo~it~ (8) sangphai.(0,5 diSm)
Khi NHTW thlc hi~n hanhvi mua ngo~it~ lam tang caungo~i t~ (D) tren FX, diSunay la dich
chuySnduang cau(D) ngo~it~ sangphai.(0,5 diSm)
Nhu v~y, vai hanhvi mua banngo~it~,NHTW dacanthi~p vao thi truang FX va chi co thSlam
tang cung(8) ngo~it~ va cau(D) ngo~it~, chu khongthSlam giam cung (8) ngo~it~ hay du (D) ngo~i
t~.(ldiSm)
Cau 4: (2,5 di~m)(niu dung 1 trong 2 ty gia, kltong tinll diim o' dlly)
Cilu a:
.:. Ty gia giao ngay:
8(U8DIVND) = 8(U8D/CHF) x 8(CHFIVND)
= 1,1080x 18.903_ 1,1116x 18.990
= 20.945_ 21.109(0,25 diSm)
.:. Ty gia kY h~n6 thang:
-Ty gia ban:
F = 8 * (1+r&v*t)
o 0 (1+rf'G *t)
-Ty giamua
TCCO_TCQT_DHCQ_A2,4 TRANG3/5 MD 090514001_ _

3. (1+ rTG*t)
F = S * D
B B (1+rFv -t)
Voi ky han6 thangt = 1'2 (0,5)
F = 21.109 * (1+8,00%*0,5) = 21.451
o (1+4,68%*0,5)
F =20.945 * (1+7,68%*0,5) = 21.219
B (1+5,00% *0,5)
F6(USD/VND) = 21.451- 21.219(0,25diem)(l1iu dung 1 trong 2 tj gid, khiing tinh mim 0' day)
Ctiu b: Ngan hangVCB ban di SpotVND de lAy USD nen apdung tY gia ban giao ngay (USDIVND):
1USD= 21.109VND.
S6USD thu duoc la: 100.000tr/21.109= 4.737.316USD(0,5 diem)
Cdu c: VCB dfrutu USD tren thi tnrong ti~n t~ thea mire lai suAtthi tnrong nen ap dung liii suAtti~n
goi bangd6ngUSD thai han6 thang, d€nhan g6cvft liii thu duoc saudfrutu la:
4.737.316 USD x (1 + 4,68%) = 4.848.169 USD(0,5 diem)
2
Theod~,d€nhan chuyeng6cva liii b&ngd6ngUSD sangd6ngVND, nen ap dungtY gia bangiaongay
tai thai diem sau6 thang.
Ty gia ban giaongay sau6 thang:
S(USD/VND) = 1,1096x 19.012= 21.096(0,5diem)
V~y thu nhapb&ngVND tai thai diem sau6 thang la:
4.848.169USD x 21.096= 102.276.973.224VND(0,5 diem)
Cfiu 5:(2,5 di~m)
a, Ty gia ky han 9 thangcuahop d6ng:
. -_. 9
1+25%*- ,
F(NZDIVSD) = 0,5024x ' 1~ = 0,5015(0,25diem)
1+2,75%*12
- N€u congty thirc hi~n hqp d6ngky h~ thi s6NZD nh~nduqc 1ft:
100.000= 199.402(NZD)(O 25di€m)
0,5015 '
- N€ucongty thvc hi~n hqp d6ng quy~nch9nthi s6NZD nh~nduqc 1ft:
100.000_ 109= 169.182(NZD)(O 25di€m)
0,5907 '
V~y, congty nen Iva ch9n hqp d6ng ky h~n,vi s6ti~n NZD nh~nduqc khi thvc hi~n hqp d6ngky
h~nnhiSuhan hqp d6ng quy~nch9n 1ft:
199.402- 169.182= 30.220 (NZD) (0,5diem)
b, Sosanhfiii (/6) cua cclhai h9P d6ng tren so vai vi¢c th1!Chi¢n h9Pd6nggiao ngay tc;zithili didmdin
hc;zn:
- N€u thvc hi~n hqp d6ng giao ngay t~i thai di€m hai hqp d6ngtren d€nh~, s6ti~n NZD congty
nh~nduqc 1ft:
100.000= 149.970(NZD)(O 25di"m)
~6668 ' e
Sovai h9'Pd6nggiao ngay,n€uthvc hi~n hqp d6ngky h~n9 thangthi congty selai 1khom 1ft:
199.402 - 149.970 = 49.432(NZD)(0,5 diem)
Sovai h9'Pd6nggiao ngay,n€u thvc hi~n hqp d6ngqUYSnch9n 9 thangthi congty lai 1khoan1ft:
169.182- 149.970= 19.212(NZD)(0,5 diem)
TCCO_TCQT_DHCQ_A2,4 TRANG4/5_MD_090514001

4. BIEU DIEM CHI TIET
MD _090514001
(D,i hQcchinh quy)
Call y Di@m T6nediSm
Y 1(trong dapan) 0.5
1 Y 2 (trong dapan) 0.5 2.0
Vi du d~nchirng 1.0
Caua,y 1(trong dapan) 0.25
2 Caua,y 2 (trong dapan) 0.25 1.0
Caub 0.5
Y 1(trong dapan) 0.5
3 Y 2 (trong dapan) 0.5 2.0
Y 3 (trong dapan) 1.0
Caua 0.5
4 Caub 0.5 2.5
Cauc 1.5
5
Caua 1.25
Caub 1.25
2.5
T6ng diem 10.0
TCCO_TCQT_E>HCQ_A2,4 TRANG5/5 ME> 090514001_ _