Giáo trình lý thuyết tài chính - tiền tệ / Lê Thị Tuyết Hoa cb., [và những người khác...].

Voi y nghTa quantrpng nhir vay, khong kho hieu vi sao Ly thuyet tai chinh - tien te tro thanhmpt mon hpc nen tang hien dien d rat nhieu truong dai hpc co sinh vienchuyen nganh tai chinh

-GIAO TRINH LY THUYET TAI CHINH - TIEN TE

PGS.TS LE THITUYET HOA - TS DANG VAN DAN (Dong chu bien)

va Tap the tac gia

GIAO TRINH

| &AI HOC NGAN HANG j

LOl m 6 DAU

Thye te cho thiy hau h6t edc qu6c gia thupc nhom cac nude phat trien trenthe gidi d6u co ging xay dyng cho minh mpt he thong tai chinh, tien te ondinh virng chiic Do la ly do tai sao hien nay nguoi ta luon dong nghTa mpth? thong tai chinh tien tp on dinh vod mpt nln kinh te phat trien cao va xa hpitien bp d m6i quoc gia Chinh vi vay, cac van de lien quan den tai chinh, tien

tp ngay mpt xuat hien phd bi£n va dirge binh luan rpng rai bcri da dang cacthanh phan tham gia trong xa hpi Tat ca nhung dieu nay cho thay, ly thuyet

ve tai chinh, tien te da tro thanh mpt ITnh vyc can dirge nghien cuu, tim hieuvdi day du yeu to hap dan va tinh chat thoi dai, tinh chat ban le de tao nentang tiep can chuyen sau hon o cac ITnh vyc co lien quan Voi y nghTa quantrpng nhir vay, khong kho hieu vi sao Ly thuyet tai chinh - tien te tro thanhmpt mon hpc nen tang hien dien d rat nhieu truong dai hpc co sinh vienchuyen nganh tai chinh noi rieng va sinh vien khoi nganh kinh te noi chung.Giao trinh “Ly thuyet Tai chinh - Tien te” cua Truong Dai hpc Ngan hangTP.HCM la mpt tai lieu chuyen khao, trang bi nhung ki6n thuc co ban ve taichinh, tien te, tin dung, ngan hang, vl cac quy luat kinh t6 trong ITnh vyc taichinh tien te Day dugc xem la nhung kien thuc can thiet va cue ky quantrpng lam nen tang cho qua trinh nghien cuu cac v4n dl ve ky thuat nghiep

vy chuyen mon sau trong ITnh vyc kinh te, tai chinh ngan hang

GiAo trinh “Ly thuyet Tai chinh - Tien te” do PGS.TS Le Thi Tuyet Hoa

va TS Dang Van Dan dong chu bien Giao trinh dugc bien soan boi mptdpi ngu giang vien giau nang luc va nhilu kinh nghiem: PGS.TS Le ThiTuySt Hoa, TS Dang Van Dan, PGS.TS Nguyin Thi Nhung, PGS.TS D6Linh Hiep, TS Le Van Hai, ThS Nguyln Van Nghien, ThS Dang ThiQuynh Anh, ThS Nguyln Trim Phuoc Bao, ThS Huynh Qu6c Khiem

Npi dung cua giao trinh dupe cau true g6m 4 phlin, chia lam 15 chuong (1)

Phan I: “Tong quan ” bao gom hai chuong, trinh bay nhung kiSn thuc tdngquan mang tinh nen tang co ban nhit ve tien tp vA tai chinh (2) Phan II: “Ly thuyet tai chinh ”, bao gdm 3 chuong, tap trung trinh bay cac v4n dl vl tai

chinh doanh nghiep, tai chinh cong va chinh sAch tAi khoa (3) Phdn III:

"Thj tru&ng tai chinh va cac djnh che tai chinh ”, bao gom 6 chuong, t£ptrung cAc vAn di vi tin dung, lai suit, hoat dpng co ban cua mpt thi trudngtai chinh, cac dinh chi tai chinh trung gian, trong do tap trung vAo djnh chetai chinh trung gian 1A ngan hang thirong mai Ben c^nh do, di dam bao tinhlogic va giup cho viec tiip can cac vAn di tai phAn IV cua giAo trinh mpteach di dang, trong phAn nay cung trinh bay kha chi tiet vi mpt djnh che tAichinh dac biet d6 1A ngan hang trung iromg (4) Phan IV: “Ly thuygt tien te ”,

bao gim 4 chuong, tap trung trinh bay cac van di vi cung cAu tiin te, lamphat, chinh sAch tien te va he thong tiin te quic ti

Di dem lai hieu qua truyin dat tot nhat, nhom tac gia da ci gAng triin khainhung kien thuc co ban vi tai chinh - tiin te sao cho dam bao tinh he thing

va mach lac cao, tung khai niem, tung vAn di cung diu dupe trinh bay mpteach chi tiet va ro rang, huong toi mong muon rang sir co gang cua nhom tacgia se giup cho nguoi doc dat dupe nhirng Ipi ich nhat dinh Tin tuong ring,tir nhung trang sach dupe nhom tac gia cham chut nay, nguoi doc co thi timdupe nhung gi huu ich mA minh can va qua do, ho trp thiit thirc cho cong tachoc tap, nghien cuu va thuc tien cong tac cua minh

Mac du da rAt ci gAng, song nhom tac gia biet rAng voi mpt ITnh vuc nghiencuu rAt rpng, luon khong ngimg van dong va bien doi, giAo trinh kho tranhkhdi nhung sai sot Voi n6 lire de cuon sach ngay mpt hoan thien hon, nhomtac gia rAt mong nhan dupe nhung dong gop xay dung quy bAu cua ngudridoc qua dia chi hoaltt@buh.edu.vn hoac dandvl978@yahoo.com Nhungdong g6p d6 thuc sir la mpt nguin dpng vien Ion lao danh cho nhom tAc giA.Xin dupe tri an sAu sAc su quan tarn mA nguoi doc danh cho quyin sAch nay

Tp Ho Chi Minh, ngay 10 thdng 03 nam 2017

DONG CHU BIEN PSG.TS Le Thi Tuyet Hoa - TS Dang VAn Dan

DANH SACH BIEN SOAN

Dong chu bien: PGS.TS Le Thi Tuyet Hoa - TS. Dang Van Dan

PGS.TS Le Thj Tuyet Hoa Chuomg 1, chuomg 7, chuomg 8

PGS.TS Nguyen Thj Nhung Chuang 14

PGS.TS Do Linh Hi?p Chuomg 15

TS Dang Van Dan Chuang 5 (1/2), chuomg 10, Chuang 11

TS Le Van Hai Chuomg 6, chuomg 13

ThS Nguylin Van Nghi?n Chuomg 9

ThS DSng Thj Quynh Anh Chuomg 3, chuomg 12

ThS Huynh Qu6c Khiem Chuomg 2, chuomg 4

ThS Nguyen Tran Phuroc Bao Chuomg 5 (1/2)

MUC■ BLUC

LOl MODAU 5

DANH SACK BIEN SOAN 7

MUC LVC 8

PHAN I: TONG QUAN 21

CHlTONG 1: DAI CUONG TIEN TE 22

1 SU* RA DOl VA PHAT TRIEN CUA TIEN TE 22

1.1 Sy ra doi cua tien te 22

1.2 Su- phat trien cua tien te 23

2 BAN CHAT TIEN TE ’ 29

3 CAC HINH THAI TIEN TE 29

3.1 Can cur vao gia tri cua tien te 30

3.2 Can cur vao tinh vat chat cua ti£n te 30

4 CHU*C NANG CUA TIEN TE 32

4.1 Chirc nang thuoc do gia tri 32

4.2 Chuc nang phurong tien trao doi 34

4.3 Churc nang phirong tien ti'ch luy 35

5 VAI TRO CUA TIEN TE TRONG NEN KINH TE 37

5.1 Gop ph£n thuc ddy tinh hipu qua cua nen kinh t6 37

5.2 Cong cu tich luy va tap trung von cho xa hpi 38

5.3 Gop phin phat trien cac quan he kinh te quoc te 38

5.4 Cong cu quan ty kinh te vT mo , 39

6 CHE DO TIEN TE ; 39

6.1 Khai niem va npi dung cua che dp tien te 39

6.2 Cac ch6 dp tien te 42

Giao trinh Ly thuyet tai chinh — tien te

6.3 Che dp tien tp b Vipt Nam 53

t 6 m TAT CHlTONG 1 54

CAU HOI THAO LUAN 56

CHlTONG 2: DAI ClTONG TAl CHINH 57

1 KHAI NIEM VA SlT HINH THANH CUA TAI CHINH 57

1.1 Khdi niem tai chinh 57

1.2 Sy hinh thanh va phat trien cua tai chinh 58

2. BAN CHAT CUA TAI CHINH 59

3. CHtTC NANG CUA TAI CHINH 60

3.1 Chnc nang phan phoi 60

3.2 Chuc nang giam doc 61

4 VAI TRO CUA TAI CHINH 62

4.1 Cong cu phan ph6i tong san pham quoc dan 62

4.2 Cong cu quan ly va dieu tiet vT mo nen kinh te 63

5. HE THONG TAI CHINH TRONG NEN KINH TE THI TRIT6NG ; 63

5.1 Khai niem he thong tai chinh 63

5.2 Cac thanh phan cua he thong tai chinh 64

6 CHINH SACH TAI CHINH QUOC GIA 66

6.1 Khai niem chinh sach tai chinh quoc gia 66

6.2 Mpc tieu cua chinh sach tai chinh 67

T6MtAt CHlTONG 2 68

CAU HOI THAO LUAN 69

PHAN II: LY THUYET TAl CHINH 70

CHlTONG 3: TAl CHINH DOANH NGHIEP 71

1. KHAl NIEM VA PHAN LOAI DOANH NGHIEP 71

1.1 Khai niem doanh nghipp 71

Giao trinh Ly thuyet tai chinh — tien t?

1.2 Phan logi doanh nghi?p 72

2 KHAI NI$M VA VAI TRO CUA TAI CHINH DOANH NGHIEP 74

2.1 Khai niem tai chinh doanh nghi?p 74

2.2 Vai trd cua tai chinh doanh nghi?p 76

3 NGUON VON VA TAI SAN CUA DOANH NGHIEP 77

3.1 Nguon von cua doanh nghiep 77

3.2 Tai san ciia doanh nghiep 79

4 DOANH THU VA CHI PHI CUA DOANH NGHIEP 83

4.1 Doanh thu cua doanh nghiep 83

4.2 Chi phi cua doanh nghiep 84

4.3 Gia thanh san pham 86

5 LOINHUAN VA PHAN PHOI LQI NHUAN CUA DOANH NGHIEP 86

5.1 Lgi nhuan 86

5.2 Phan phoi Igi nhuan 87

TOM TAT CHlTONG 3 88

CAU HOI THAO LUAN 89

f CHITONG 4: TAI CHINH CONG 90

1 TONG QUAN VE TAI CHINH CONG 90

1.1 Khai niem tai chinh cong 90

1.2 Dac di8m cua tai chinh cong 91

1.3 Vai trd cua tai chinh cong 92

2 NGAN SACH NHA NU*6C 95

2.1 Khai niem ngan sach nh& nude 95

2.2 Thu ngan sdeh nh& nude 96

2.3 Chi ngan s&ch nha nude 100

Giao trlnh Ly thuyet tai chinh - tien t?

2.4 Trpng thdi cua ngan sdch nha nude 102

2.5 Tham hpt ngan s&ch va nguon tai trg 103

2.6 To chore h? thong ngan s&ch nha nude va phan c£p quan ly ngan sach nha nude 106

2.7 Chu trlnh ngan s&ch nha nude 108

3. KHO BAC NHA NlTOC 109

3.1 Khdi ni?m kho bac nha nude 109

3.2 M6 hinh to chuc kho bac nha nude 110

3.3 Chuc nang cua kho bac nha nude 112

TOM TAT CHLTONG 4 113

CAU HOI THAO LUAN 114

CHUXD^SpCHfNH SACK TAI KHOA 115

1 £ 1 KHAINIEM CHINH SACK TAI KHOA 115

f— ; 2 MVC TIEU CUA CHINH SACK TAI KHOA 116

,k3- 3 CONG CU CUA CHINH SACH TAI KHOA 117

|5~ 3.1 Chinh sach thu ngan sach 117

3.2 Chinh sdeh chi ngan sach 120

—3.3, Chinh sach can doi ngan sach 122

4 PHAN LOAI CHINH SACH TAI KHOA 125

4.1 Chinh sdeh tai kh6a can bang, md rong va that chpt 125

4.2 Chinh sdeh tai khoa cung chieu va chinh sach tai khoa ngugc chieu 128

4.3 Chinh sach tai khoa thuan chu ky va chinh sach tai khoa ngugc chu ky 128

5 TAC DQNG CUA CHINH SACH TAI KH6a 130

5.1 Chinh sdeh tai khoa va thu nhpp 130

5.2 Chinh sdeh tai khoa va tang trudng kinh tl 131

5.3 Chinh sdeh tai khda va 1pm phat 131

Giao trinh Ly thuyet tai chinh — tien t?

5.4 Chinh sach tai kh6a ng cong 132

5.5 Chinh sach tai khda va chu ky kinh doanh 134

TOM TAT CHlTONG 5 135

CAU HOI THAO LUAN 136

PHAN III: THI TRlTONG TAI CHINH VA DINH CHE TAI CHINH 137

U CHlTONG 6: TIN DUNG 138

1 CO SO HINH THANH VA PHAT TRIEN TIN DUNG 138

1.1 Khai niem tin dung 138

1.2 Cor scr khach quan cua sur hinh thanh va phat trien cua tin dpng 138

2 BAN CHAT CUA TIN DUNG 140

3 CAC LOAI HINH TIN DUNG 142

3.1 Tin dung thiromg mai 142

3.2 Tin dung ngan hang 144

3.3 Tin dung nha nude 148

3.4 Cac loai hinh tin dung khac 150

4 VAI TRO CUA TIN DUNG 151

4.1 Tin dung gop phan thuc diy qua trinh tai san xuat cua xa hpi 151

4.2 Tin dung la kenh truyBn tai anh hudng cua nha nude den cac muc tieu vT mo 151

4.3 Tin dung la cong cu thuc hien cac chinh sach xa hpi cua nha nude 152

TOM TAT CHlTONG 6 153

CAU HOI THAO LUAN 154

J CHlTONG 7: LAI SUAT 155

1 KHAI NIEM VA BAN CHAT CUA LAI SUAT 155

2 VAI TRO CUA LAI SUAT 157

Gido trinh Ly thuyet tai chinh — tien t?

2.1 Lai suit Id phuong ti?n kich thich Igi ich vat chat de thu hdt

mpi ngu6n von nhan rSi trong nen kinh ti 157

2.2 Lai suit Id cong cy kich thich diu tu phdt trien kinh te 157

2.3 Lai suat Id ddn bay kich thich su dyng v6n c6 hi?u qua 157

2.4 Lai suit la mpt trong nhung cong cy dy bao tinh hinh nen kinh te 157

2.5 Lai suit la cong cy dieu tiit vT mo nen kinh ti 158

3. PHtfONG PHAP TINH LAI 158

3.1 Phuong phdp lai suat don 158

3.2 Phuong phdp lai suat kep 159

4 PHAN LOAI LAI SUAT 160

4.1 CSn cur vao gid trj cua tien lai 160

4.2 Can cu vao thcri han tin dyng 164

4.3 Can cu vao tinh linh boat cua lai suat 164

4.4 Cdn cu vao phuomg phdp tra lai 165

4.5 Can cu vdo nghiep vy ngan hang ; 165

5 CAC NHAN TO ANH Hl/ONG DEN LAI SUAT 171

5.1 Nhan to tryc tiep 171

5.2 Nhan ti gian tiep 175

6 TAC DQNG CUA CAC CHUYEN DQNG LAI SUAT 178

6.1 Lai suit vd dau tu 178

6.2 Lai suit vd chi tieu tieu ddng 180

6.3 Lai suit vd xuit khiu rdng 181

6.4 Lai suit vd lam phdt 183

7. CAU TRUC RUI RO CUA LAI SUAT .184

7.1 Khdi ni?m ciu true rdi ro eda lai suit 184

7.2 Nhan to anh hudng den ciu true rdi ro eda lai suit 184

Giao trinh Ly thuyet tai chinh — tien t?

8 CAU TRUC KY HAN CUA LAI SUAT 188

8.1 Khai ni?m 188

8.2 Ly thuyet dy tinh 189

8.3 Ly thuyet thj tnrdng phan cdch 190

8.4 Ly thuySt moi tnrdng mi tien 191

TOM TAT C HUONG 7 193

CAU HOI THAO LU AN 194

g CHUONG 8: THI TRUONG TAI CHINH 196

1 CO SO KHACH QUAN HINH THANH VA THAT TRIEN THI TRUONG TAI CHINH 196

1.1 Sir hinh thanh cung cau v6n trong nln kinh t£ 196

1.2 Sir xuat hi?n quan he mua bin cic tai san tai chinh 198

2 CHUC NANG CUA THI TRUONG TAl CHINH 201

2.1 Khai niem thj tnrang tai chinh 201

2.2 Chuc ning cua thj tnrang tii chinh 201

3 CAU TRUC CUA THI TRUONG TAI CHINH 203

3.1 Thi trirang sa cip va thi tnrang thur cap 203

3.2 Thi tnrang ngin han va thj tnrang dai han 206

3.3 Thi tnrang ng, thi tnrang von co phan va thj tnrdmg phii sinh 207

3.4 Thi tnrang npi t? va thj tnrdng ngoai te 209

4. CAC CHU THE THAM GIA TREN THI TRUONG TAI CHINH 211

4.1 Chu the cung von 211

4.2 Chu the cau v6n 212

4.3 Cac dinh che tai chinh 213

4.4 Nha nude - vdi churc ning quin ty vi giim sit 214

5 HANG Il6A CUA THI TRUONG TAI CHINH 216

Gido trinh Ly thuyet tai chinh — tien t?

5.1 Khdi ni?m vA dac diem tai san tai chinh 217

5.2 Cdc lo^i t£i san tai chinh 217

6 VAI TRO CUA THI TRlTdNG TAl CHINH 224

6.1 T^o diiu kien thuan Igi cho cac giao djch tai chinh 224

6.2 G6p pltan nang cao nSng suat va hi?u qua cua nen kinh ta 225

6.3 Tao moi tnrfrng thu£n Igi de dung hoa cdc Igi ich kinh te cua c&c chu the 226

6.4 Kich thich cac doanh nghi?p san xuat kinh doanh lanh manh c6 hi$u qua 226

TOM TAT CHlTONG 8 „ 227

CAU HOI THAO LU AN 228

CHlTONG 9: CAC DINH CHE TAI CHINH TRUNG GIAN 229

1 KHAI NIEM VA CAC DAC DIEM CUA D{NH CHE TAl CHINH TRUNG GIAN 229

1.1 Khdi ni?m 229

1.2 Dac diem cua dinh che tai chinh trung gian 231

2 DINH CHE TAl CHINH NGAN HANG 232

2.1 Ngan hang thircmg mai 232

2.2 Ngan hang d£c biet 232

3 DINH CHE TAl CHINH PHI NGAN HANG 234

3.1 Cong ty bao hiem 234

3.2 Quy trg cdp 237

3.3 Quy diu tur 239

3.4 Cong ty tai chinh 240

3.5 Cong ty cho thue tai chinh 243

4 VAI TRO CUA CAC DINH CHE TAl CHINH TRUNG GIAN 244 4.1 Kich thich tap trung cdc nguon von tiet ki^m trong nen kinh te 244

Giao trinh Ly thuyet tai chinh — tien

4.2 Tao co hpi dau tir sinh Ifri cho cdc nhd dau tur nhd va vua 245

4.3 Thue day dAu tir, canh tranh vd cai tien sang tao trong ITnh vpc tai chinh 245

4.4 Han ch6 rui ro trong dau tur tai chinh 245

4.5 Kich thich sir phat trien cua thj trurong tai chinh 246

TOM TAT CHLTONG 9 246

CAU HOI THAO LU AN 247

Z CHUONG 10: NGAN HANG THU*ONG MAI 248

1 LICH SU* HINH THANH VA PHAT TRIEN NGAN HANG 248

1.1 Ljch sir hinh thanh ngan hang 248

1.2 Cac giai doan phat trien cua ngan hang 249

1.3 He thong ngan hang 251

2 KHAI NIEM NGAN HANG THU*ONG MAI 256

3. CHU*C NANG CUA NGAN HANG THlTONG MAI 257

3.1 Chirc nang quan ly tien guri 257

3.2 Chirc nang trung gian thanh toan 257

3.3 Chuc nang trung gian tin dying 258

I 4 PHAN LOAI NGAN HANG THtfONG MAI 259

4.1 Can cu' vao ITnh vpc hoat dong 259

4.2 Can cur vao hinh thurc so huu 260

5 NGHIEP VV CUA NGAN HANG THU*ONG MAI 262

5.1 Nghiep vp tai san ng 262

5.2 Nghiep vp tai san co 268

5.3 Nghiep vp trung gian hoa hong 272

6 NGAN HANG THU*0NG M^I TAO TIEN 276

6.1 Qua trinh tao tiin cua ngan hang thurong mpi 276

6.2 Dieu kien tao but t? toi da 280

16

Giao trinh Ly thuyet tai chinh — tien te

t 6M TAT CH VONG 10 281

CAU HOI THAO LUAN 282

g CHVONG 11: NGAN HANG TRUNG VONG 283

1 KHAI NIEM NGAN HANG TRUNG VONG 283

2 MO HINH VI TRI PHAP LY CUA NGAN HANG TRUNG VONG 284

2.1 Mo hinh ngan hang trung iromg tryrc thupc chinh phu 284

2.2 Mo hinh ngan hang trung irong dpc lap vdi chinh phu 286

3. CHVC NANG CUA NGAN HANG TRUNG VONG 288

3.1 Churc nang doc quyen phat hanh tien 289

3.2 Chile nang ngan hang cua cac ngan hang 293

3.3 Churc nang ngan hang cua nha nude 294

3.4 Churc n^ng quan ly nh& nude ve tien te va cac hoat dpng ngan hang 294

TOM TAT CH VONG 11 296

CAU HOI THAO LU AN 297

PHAN IV: LY THUYET TIEN TE 298

1 CHVONG 12: CUNG CAU TIEN TE 299

1 CAU TIEN TE 299

1.1 Khdi niem mure ciu tiln te 299

1.2 Cac hoc thuyet ve ciu tien te 299

1.3 Cac nhan to anh hudng dSn ciu tiln te 309

2 CUNG TIEN TE 312

2.1 Khai niem muc cung ti6n te 312

2.2 Cac phep do muc cung tiSn t$ 312

2.3 Qu A trinh cung ung ti£n t? 316

2.4 Mo hinh luomg cung ti£n 319

Gido trinh Ly thuyet tai chinh — tien ty

2.5. Cac nhan td &nh hirorng den cung tien te 325

3 QUAN HE CUNG CAU TIEN TE 329

3.1 Tong ciutien te 329

3.2 Tong cung tien t<? 330

3.3 Can bang cung cau tien t$ 331

3.4 Sur dung tien te di kich thich, diiu tiet hoat d$ng kinh te 331

TOM TAT CHlTONG 12 335

CAU HOI THAO LUAN 336

’J CHtfONG 13: LAM PHAT 337

1. CAC QUAN DIEM VE LAM PHAT 337

2 PHEP DO LUONG LAM PHAT 338

2.1 Chi so gid ca hang hoa tieu dCmg MX.i 338

r 0 f-r 2.2 Chi so gia san xuat./ i.^» 341

2.3 Chi so giam phat tong san pham quoc npi ? ; 341

3. CAC LOAI LAM PHAT ’ 342

3.1 Lam phat vira phai 342

3.2 Lam phat phi ma 343

3.3 Lam phat sieu toe 343

4 NGUYEN NHAN LAM PHAT 344

4.1 Nguyen nhan ve phia cau 344

4.2 Nguyen nhan ve phia cung 346

5 HIEU UNG CUA CAC CHUYEN DQNG LAM PHAT 347

5.1 Lam phat va lai suat 347

5.2 Lam phat va thu nhap 348

5.3 Lam phat va dau tir 348

5.4 Lam phat va thdt nghiep 349

Giao trlnh Ly thuyet tai chinh - lien t?

6 cAC BIEN PHAP KIEM CHE VA KIEM SOAT LAM PHAT 353

6.1 Biyn phdp that chat cung tien ty 353

6.2 Bien phdp ma rpng cau tien t$ 354

T6M TAT CHlTONG 13 355

CAU HOI THAO LUAN 356

CHlTONG 14: CHINH SACH TIEN TE 357

1 KHA1 NIEM VA PHAN LOAI CHINH SACH TIEN TE 357

1.1 Khai niym chinh sach tien te 357

1.2 Phan loai chinh sach tien te 359

2 MVC TIEU CUA CHINH SACH TIEN TE 362

2.2 Muc tieu trung gian 370

2.3 Myc tieu hoat dong 372

3 CO CHE TRUYEN DAN CHINH SACH TIEN TE 374

3.1 Co chi truyen dan chinh sach tien te la gi? 374

3.2 Kenh dan truyen chinh sach tiin te 376

4 CAC CONG CV DIEU HANH CHINH SACH TIEN TE 378

4.1 Ty 1? dy trQ- bat buyc 379

4.2 Chinh sdch chiet khiu (Tai cip v6n) 387

4.3 Nghiep vy thi trudmg mor 390

4.4 Han muc tin dyng 396

4.5 Qui dinh lai suat 397

TOM TAT CHlTONG 14 400

CAU HOI THAO LUAN 401

U CHlTONG 15: TAI CHINH TIEN TE QUOC TE 402

1 TdNG QUAN VE TIEN TE QUOC TE 402

1.1 Tien quoc gia va tien quoc ti 402

1.2 Kh£ nang de mot ding tiin quoc gia tra thanh d6ng tiin qu6c ti 404

Giao trinh Ly thuyet tai chinh — lien t?

2 THI TRUONG NGOAI H6l VA TY GIA H6l DOAl 407

2.1 KhAi niem thi truong ngo^i hoi 407

2.2 D$c diem cua thj trurfrng ngo^i h6i 407

2.3 Cac chu thS tham gia thj truong 409

2.4 Vai trd cua thj trirang ngo^i hdi 410

2.5 Ty gia hoi doai 411

3 CAN CAN THANH TOAN QUOC TE 415

3.1 Khai niem can can thanh toan quoc te 416

3.2 Phan loai can can thanh toan qu6c t£ 416

3.3 Noi dung cua can can thanh toan qudc t£ 417

3.4 Tac dong cua can can thanh toan quoc te 419

4 QUAN HE THANH TOAN VA TIN DUNG QUOC TE 420

4.1 Quan he thanh toan quoc te 421

4.2 Quan he tin dung quoc te 427

5 CAC DINH CHE TAI CHINH QUOC TE 432

5.1 Quy tien te quoc te (IMF) 432

5.2 Nhom Ngan hang The giai (World Bank Group —WB) 436

5.3 Cac ngan hang phat trien khu virc 441

5.4 Vai net vl quan he giffa Viet Nam vai cac to churc tai chfnh-tien te quoc te 443

TOM TAT CHlTONG 15 445

CAU HOI THAO LU AN 446

PHAN I

TONG QUAN

Chuong1 DAI CUONG TIEN TE

Muc tieu cua chicang nay la truyen tai cac kien thicc nen tang ve Hen te Thong qua chicang nay, ngicai Hoc cd the hieu rd ban chat cua tien te, cac hinh thdi tien te Giai thich dirge tai sao tien te cd vai tro quan trong trong nen kinh te nhic vay, tai sao khong the thu tieu tien te trong dieu kien cua nen kinh te hang hoa phat trien Thong qua chicang nay, ngicai doc cung biet dirge cac che do tien te da trai qua trong lich sic nhic the nao va tai sao cd sic thay doi cac che do tien te nay Tat cd nhimg van de nay la khai dau quan trong cho viec nghien ctni tiep theo cac van de ve tien te ngdn hang trong nen kinh te hien dai a cac chicang sau.

1 SlJ RA DCfl VA PHAT TRIEN CUA TIEN TE

1.1 Sur ra doi cua tien te

Tien te la mot pham tru kinh te khach quan, la san pham tat nhien cua nenkinh te hang hoa Sy ra doi cua tien te la mot qua trinh phat trien, xuat phattur sy phat trien khong ngirng cac hoat dong kinh te dirdi nhimg hinh thurckhac nhau cua san xuat va trao doi san pham Viec trao doi san pham xuathien ngay trong long xa hoi cong dong nguyen thuy, vao giai doan cuoi cua che do cong xa nguyen thuy Do la sy trao doi giira cac cong xa vai nhau,mang tinh ngau nhien ca biet

Khi cuoc phan cong lao dong xa hoi ldn Ian thu nhat xuat hien, chan nuoitach khdi trong trot, trinh do san xuat trong cac cong xa phat trien hon, solirong va chung loai san pham san xuat ra nhieu han, tao kha nang trao doingay cang ldn han Di doi vai viec cai tien cong cu lao dong va sy phat triencua hai nganh chan nuoi va trong trot, san xuat ca nhan cung dan dan thaythe cho san xuat cong dong, che do sa hiru tir nhan ra doi dan dan thay theche do sa hiru cong xa ve tir lieu san xuat va san pham lao dong, viec trao

Gido trinh Ly thuyet tai chinh - tien te

doi giua cac cong xa dirge thay the dan bing viec trao doi giua cac ca nhan

Do do nhu cau trao doi ngay cang phat trien han, trao doi ngay cang co ynghTa quan trong doi vai ban than m6i nguai san xuat hang hoa Den giaidoan nay, trao doi khong con mang tinh chat ngau nhien va ca biet nua ma

co tinh chat thirong xuyen han, phurc tap hem va mang tinh quy luat han

Tuy nhien, mac du quan he trao doi da phat trien, nhimg quan he trao doi vanchi dirnc thuc hien duai hinh thuc trao doi true tiep: trao doi dien ra true tiepgiira hang va hang (H-H) Nhung de quan he trao doi true tiep co the thuchien dirge doi hoi phai co sir phii hop ve nhu cau giira nhung nguai tham giatrao doi: phii hop ve thoi gian trao doi, phu hap ve dia djem trao doi, phii

hap v'e gia tri su dung cua san pham trao doi Do do, doi vai quan he trao

ddi true tiep, kha nang thuc hien cac quan he trao doi rat han che Quan hetrao d6i nay chi phii hap trong dieu kien san xuat va luu thong hang hoachua phat trien, nhu cau trao doi hang hoa chua phai la nhu cau buc thiet cuasan xuat va dai song

San xuat va trao doi hang hoa ngay cang phat trien, lam cho so lugng vachung loai hang hoa trao doi ngay cang nhieu va da dang, do do quan he traodoi tra nen rat kho khan va phurc tap Mat khac trinh do phan cong lao dong

xa hoi ngay cang cao lam cho san xuat va doi song bi le thuoc vao trao doi

Do do nhu cau trao doi ngay cang tra nen buc thiet han Vi vay, trao doi truetiep Hang-Hang khong con phii hop nua, doi hoi phai thay the bang hinhthuc trao doi hoan thien han, do la trao doi gian tiep thong qua mot vat trunggian Sir xuat hien ciia vat trung gian trong trao doi da khac phuc dugcnhung han che cua trao doi true tiep H-H, gop phan day nhanh qua trinh traodoi hang hoa, tiet kiem chi phi trao doi hang h6a, nang cao hieu qua san xuat

xa hoi Vat duoc chap nhan lam vat moi giai trung gian trong trao doi va lamphuong tien thanh toan cac khoan ng, dirge xa hoi dat ten la TIEN TE Nhuvay, su phat trien cua quan he trao doi hang h6a lam thay doi hinh thuc traodoi hang hoa va la dong lire thuc day sir ra doi cua tiSn te (Ngudn: Le Thi

Tuyet Hoa va Nguyen Thi Nhung 2012)

x 1.2 Sir phat trien cua tien te

Cling voi sir phat trien ciia san xuat va trao doi hang hoa, tien te cung ngaycang phat trien Sy phat trien ciia tien te trai qtia nhieu hinh thai khac nhauphii hop voi nhu can luu thong hang hoa trong timg thoi ky

Chiccmg 1: Dcii ctromg tien t<>

1.2.1 Hoa te

Trong thoi ky dau, khi tien te moi xuat hipn, d nhung thbi gian khac nhau,nhung dia phuong khac nhau, nhung dan tpc khac nhau co nhieu hang hoakhac nhau ke tiep dong vai tro tien te Trong thoi co dpi 6 Trung Quoc datung dung luc thi da, luc thi vd trai, luc thi chau ngQC, vang, bac, gao, vailam tien te Ci Hy Lap, La Ma da tung dung sue vat, dong lam tien te CiTay Tang, Mong Co, Indonesia da tung dung che lam tien te Ci Bac My conoi dung thuoc la, co noi dung ngo lam tien te Ci cac vuong quoc Maya vaAztec dung vai det va hat ca cao Cac vuong quoc mien Tay Chau Phi thidung 6c tien va vang

(Nguon: Nguyen Thanh Chau 2006)

Bang 1.1: Mot so tien te bang hang hoa tren the gidi

Tien te bang hang hoa Noi sir dung

MarianasDao Snta Gruz (din tan nam 1961)Phillippines

Nhieu quoc gia

Quin dao Samtra (Indonesia)

Barbados Nhieu vimg chau ALuc dia chau Phi, Nigeria,Ireland

Mot so vung d nude Nga

Ai cap, VietNamTrung quoc Norway Ph^p va Y

Uc

An dp

Giao trinh Ly thuyet tai chinh — tien te

Theo da phat triin cua san xuat va trao doi hang hoa, su hinh thanh thi trurongdan toe va thi trirang the giai doi hoi phai co mot vat trung gian trao doi codinh, cimg chat, do do tien te dan toe va sau do la tien te the giai xuat hien.Trong th ye te lich sir, c6 rat nhieu hang hoa thong thirang da dirge sir dungvai muc dich nay Trong do, kim loai co vi tri dac biet, vi nhung thupc tmhtir nhien cua no, thich hgp nhat cho viec phat huy tac dung xa hpi cua tien te,nen trai qua nhieu giai doan lich sur, nhieu thu thach thuc te, cac loai hangh6a khac deu dan dan bi dao thai, kim loai dan dan dirge chgn lam tien te,thay cho cac hang hoa thong thirang khac

1.2.2 Kim te

Bude qua do tir gia sue va cac vat khac chuyen sang kim loai lam tien te bitdau tir khi cuoc phan cong lao dong xa hoi Ion lan thu hai dugc thuc hien:thu cong nghiep tach khdi nong nghiep Dau tien kim loai dugc sir dung lamphuang tien trao doi duoi dang thoi, sau do no dugc due duoi dang “tiendue” va dugc dua vao su dung rat som nhu d vung Tieu a va Hy Lap vao the

ky thu VII truoc Cong nguyen, a Trung Quoc vao cuoi the ki thu TV truacCong nguyen, a Chau Au vao the ki thu nhat truac Cong nguyen Nhinchung cac kim loai lam tien te co nhieu uu diem han cac hang hoa phi kimloai nhu chat lugng va trong lugng co the xac dinh de dang han, ben vathuin nhat vi chat han Do do gia tri it bien doi han

Ban dau cac kim loai sat, thiec, kern, dong dugc su dung de due tien, dindan nhung kim loai nay bi dao thai, thay the bang cac kim loai quy la bac vavang Vang va bac dugc tro thanh tien te khong phai la mot hien tugng ngiunhien ma chinh la do vang bac co nhung thupc tinh tu nhien ly tudng phuhgp vai vai tro cua tien te trong thai ky diu, ma khong mot thu hang hoa nao

co dugc, do la: pham chat thuan nhit, ben dep, cd gia tri cao, di chuyen chacat tru, de chia nhd, de hgp nhat Vi vay, vang bac thich hop vdi chuc nang

xa hoi lam tien te han bat cu mot hang hoa nao khac Din diu thi ky 19,vang da dugc su dung pho biin di due tiin a cac nude (Ngudn: Marx 1964)Tien vang da ton tai mot thdi gian dai trong lich su Dieu do chung to vai tro

va hieu qua to Ion ma tien vang mang lai cho nen kinh ti cac quoc gia Hethong luu thong tiin te dua tren vang dugc duy tri cho din cuoi thi ky 20.Din nam 1971, khi he thing tien te quoc te Bretton Woods lay vang lam tient? chuan quoc te bi sup do, luu thong tien vang cung bi sup do hoan toan

_ Chiromg 1: Dai cirang tien N

Den the ky 20, giay bac ngan hang thay the hoan toan cho cac loai tien duebang kim loai quy nhu vang va bac, khong dupe dam bao bang vang vakhong dupe chuyen doi ra vang - gpi la tien giay bat kha hoan (cd nhieu tailieu gpi la tien giay phap dinh)

Nguyen nhan chu yeu khien cho ca the gioi lan lupt chuyen sang su dung tiengiay bat kha hoan pho bien cho den ngay nay la do hau qua cua cupc chientranh the gicri Ian thu nhat (1914-1918), cac nude tham chien da dung vang demua sam vu khi, lam cho du tru vang tro nen can kiet, khong con du lire lupngvang de doi cho cong chung Cupc khung hoang kinh te the gidi (1929-1933)lam cho hang ngan ngan hang bi pha san va hang loat cac ngan hang roi vaothe khung hoang, dan tdi tarn ly lo sp cua cong chung Lan song doi tien giaylay vang cua cong chung dang Jen ao at, khien cac ngan hang be tac khong cd

du vang de dap ung nhu cau chuyen doi cua cong chung Trude tinh hinh do,cac ngan hang cac nude Ian lupt tuyen bo ngimg chuyen doi tien giay lay vang

va tien giay trd thanh tien giay bat kha hoan d Anh vao thang 09/1931, d Myvao thang 04/1933, d Bi vao thang 03/1935, d Phap, Ha Lan, Thuy ST vaothang 10/1936 (Nguon: Le Thi Tuyet Hoa va Nguyen Thi Nhung 2012)

Hien nay, tidn giay cua tat ca cac quoc gia deu la tien giay bat kha hoan Mac

du gia tri npi tai cua nd rat thap, khong dupe dam bao bang cac kim loai quy,nhung nd van dupe luu thong voi gia tri cao hon nhieu so vdi gia trj npi taicua nd la vi tien giay la tien phap dinh, dupe luat phap nha nude quy dinhlam phuong lien trao doi va dupe cong chung chap nhan

Giao trinh Ly thuyet tai chinh — tien te

1.2.4 But te va tien dien tic

Song song voi sir xuat hien cua tien giay, tien guri tai cac ngan hang the hienmQt quyen nSm gitr tien giay, co the chuyen nhugng va thanh toan bing cacbut toan don gian tren tai khoan tai ngan hang cung bit dau xuat hien.Nhirng dong tien nay thuc chat chi la nhirng con so ghi tren tai khoan taingan hang, nen dirge goi la tien ghi so hay but te Tir the ky 19 diroi sur anhhirong cua sir phat trien trao doi mau dich va anh hirong cua str thay doi cac

ky thuat thanh toan bii trir, dong tien ghi so ngay cang phat trien manh me vagitr mpt vi tri quan trong trong liru thong tien te cua cac quoc gia

Dac biet, cac tien bo ve cong nghe cung nhir sir phat trien cua he thong thongtin vien thong da cho phep cac ngan hang thay the cac hinh thurc va phirongthurc thanh toan truyen thong bang thu cong voi cac churng tir bang giay bangphirong thuc thanh toan dien tur Theo phirong thurc thanh toan nay, cac giaodich thanh toan chuyen tien dirge thuc hien thong qua he thong dien tur duatren he thong mang may tinh, internet: he thong thanh toan SWIFT (Societyfor Worldwide Interbank Financial Telecommunication), the rut tien (ATMcard, bank card), the tin dung (Credit card), the ghi ng (Debit card), tien matdien tur (Electronic cash), sec dien tur (Electronic check)

Voi phirong thurc thanh toan tren, giup cho viec thanh toan dirge tien hanhvoi toe do nhanh chong gap nhieu lan voi chi phi giam dang ke Nhirng dongtiSn loai nay dirge goi la tien dien tur, liru trir trong he thong may tinh cuangan hang diroi hinh thurc so hoa Nhir vay, khai niem tien te da vurgt len trenkhai niem ve vat chat cua tien te Sir thay the nay da cho phep cac quoc giacong nghiep dat den mot giai doan quan trong ve thay doi kinh te

Tom lai, chinh sir phat trien cua san xuat va trao doi hang hoa da dan toi surxuat hien ciia tien te, va cung chinh sir phat trien cua san xuat va trao doi hanghoa ciing voi sur can thiep cua nha niroc, da dan toi sur thay the phirong tientrao doi nay bang phirong tien trao doi khac Mot cong cu nao do diroc lirachon lam phirong tien tien te tiiy thuoc chu yeu vao mure do phat trien cua sanxuat, trao doi hang hoa va long tin cua cong chung vao cac co quan co trachnhiem quan ly no Do do, khong the co mot hang hoa nao doc chiem vai trotien te trong suot qua trinh phat trien cua san xuat va trao d6i hang hoa

Chtromg 1: Dai ctrang lien te

BAI DQC THEM

Tien Viet Nam qua cdc giai do an

Han 1000 nam Bae thuoc, nicac ta chiu anh huang cua nen van hoa Trung qudc Nhung dong tien tie thai Hdn-Dicang da khai thong y nipm lien tp ciia dan tpc Sau khi dep loan 12 sir qudn, Dinh B q LTnh len ngoi Hoang de va nam 970 da cho due tien Thai Binh Hung Bao, ma dau cho ky nguyen tien te Dai Viet.

The ky 15, Ho Quy Ly phat hanh tien giay dau tien thay the tien kim loai dong a nuac ta Ton tai trong 4 nam, cho den khi qudn Minh xam luqc, nha Ho sup do, che dp tien giay cung sup do theo, cdc trieu dai sau tra lai hcu thong tien kim loai dong va kem.

Trong sudt thai ky Phdp thuoc, nicac ta sic dung dong tien Dong Dicang ciia Phap (1874-1945).

Ngay 1/12/1945, sau 3 thang thanh lap nuac Viet Nam Dan Chu Cong Hoa, dong tien dau tien duac phat hanh a Viet Nam: dong tien bang nhom do B q tai chinh phat hanh.

Ngay 31/1/1946phat hanh giay bac Viet Nam dau tien tai mien trung, 13/8/1946phat hanh a mien bac, 11/1946phat hanh tren toon qudc Tdt cd deu la tien tai chinh Ngay 6/5/1951 Ngan hang Qudc gia Viet Nam duac thanh lap Phat hanh giay bac ngan hang thay the tien tai chinh theo ty Ip doi (10 dong tien cu = 1 dong tien mai) cuoc doi tien dien ra trong 20 thang.

Thang 2/1959 doi lien ngan hang theo ty le 1000 dong tien cu = 1 dong tien mai Ngay 22/9/1975 sau 5 thang mien nam giai phong, tien hanh doi tien che do cu Idy tidn ngan hang Viet Nam con goi la "Tien giai phong" theo ty Ip 500 dong tidn cu =1 dong tien mai (tuang duang 1 USD).

Ngay 2/5/1978 - ky niem 3 nam giai phong mien nam, thuc hien doi tien tren loan quoc nhdm thdng nhdt tien te theo ty Ip 1 dong tien cu (Mien bac) hope 0,8 dong tidn cu (Mien nam) = 1 dong tien mai.

Nam 1985 thuc hien cai each tien tp nhdm nang cao va on dinh gid tri tien tp, thuc hien doi tien theo ty le 10 dong tien cii = 1 dong tien mai.

Ngay 17/12/2003 phat hanh them tien Polimer va tien bang kim loqi nham bo sung ca cdu mpnh gid dong tien hpp ly han va chong tien gid.

(Nguon: Tdc gid tong hop)

Giao trinh Ly thuyet tai chinh - lien te

2 BAN CHAT TIEN TE

Qua xem xet nguon goc ra ddi cua tien t? cho thay, chinh qua trinh phat sinhphat trien cua san xuat va trao doi hang hoa da nay sinh ra tien te va tien tethyc chat cung chi la mgt loai hang hoa, tach ra khoi the gioi hang hoa mathoi Khi tro thanh tien te, no van mang day du thugc tinh cua hang hoa, dola: gia tri va gia tri su dung Gia tri cua tien te, do la hao phi lao dong xa hoican thiet ket tinh trong tien te Gia tri sur dung cuajien te do la gia tri str dungdac biet: co kha nang trao doi true tiep voi moi hang hoa, do do, co the thoaman nhu cau nhieu mat cua nguoi so hiru no

Theo Marx (1962), Tien te la mot loai hang hoa dac biet, doc quyen giu vai

tro la vat ngang gia chung de phuc vu cho qua trinh trao doi va liru thonghang hoa

Cac nha kinh te hoc hien dai dinh nghTa tien te theo each khac, khong duavao ban chat cua tien te ma dira vao cong dung cua tien te Theo each tiepcan nay, tien te la bat cu vat gi dirge chap nhan chung de lam phuong tien

trao doi, phuong tien do luong va phuong tien tich luy gia tri Theo Mishkin

(2001) “Tien te la bat cur cai gi dirge chap nhan chung trong viec thanh toan

de nhan hang hoa hoac dich vu hoac trong viec tra ng”

Voi gia tri sir dung dac biet do, tien te tro thanh vat dai bieu chung cho cuacai xa hoi Do do tien te phai dam bao: on dinh gia tri (ii) Tinh de

phjmchia fzv^Tinh lau ben, (v) Tinh-de-van chuyen (vi) Tinh thuan nhat.

Vang bac la nhung hang hoa thoa man cac tinh chat tren mot each ly tuong,nen da dirge lira chgn lam tien te trong mot thoi gian dai Tuy nhien, sir phattrien cua san xuat va trao doi hang hoa, sur khan hiem cua vang bac va nhucau ngay cang cao sir dung vang vao cac muc dich phi tien te da dan toi sirthay the tien vang va bac bang cac loai tien giay, la loai tien dirge sur dungpho bien ngay nay

3 CAC HINH THAI TIEN TE

Xuyen suot qua trinh hinh thanh va phat trien cua tien te, co the khai quat laicac hinh thai tien te ve phirong di?n ly thuyet nhu sau:

Chiron g 1: Dai wrong lien te

3.1 Can cu vao gia tri cua tien te

Can cur vao gia tri cua tien te, co the chia hinh thai tien te thanh 2 loai: Tienthurc va dau hieu gia tri

va bac thay doi, do do gia tri trao doi cua no cung thay doi theo Nguroc lai,neu gia tri noi tai cua vang khong thay doi thi gia tri trao doi cua no se ondinh Trong truong hop do cung cau hang hoa, lam thay doi gia tri trao doicua tien thuc thi cung chi mang tinh chat tarn thai, vang bac se tu phat dieutiet de tra ve the on dinh

• Dau hieu gia tri (tin te) £ ° Co

Dau hieu gia tri la hinh thai tien te, liru thong dugc khong phai nho gia tri cuaban than, ma la nho str tin nhiem, sirquyuac cua xa hoi hoac cua luat dinh doivoi ban thanjia Goi la dau hieu gia tri, vi ban than no khong co gia tri hoacgia tri rat nho nhung no la daibieu cua gia tri, no co the mua dirge gia trj Ion.Di£n hinh cua loai hinh thai tien te nay do la tien_giay va tien due bing cackim loai thirang nhu: tjen dong, tien nhom, tien kern Doi vai loai tien tenay, liru thong khong phai nha vao gia tri ngi tai cua ban than no Gia tri traodoi cua no hoan toan tach rai gia tri noi tai cua no Gia tri noi tai cua loai hinhthai tiin te nay thuang nho han nhieu so vai gia tri trao doi, tham chi la rat nho

vi du nhu tien giiy, nen doi vai tien giay, nguai ta thuang coi nhu no khong

co gia tri noi tai Do do trong dieu kien luu thong cac dau hieu gia tri, dac bi?t

la tien giay, vai tro quan ly cua nha nuac, cua ngan hang trung uang la ratquan trong, giup cho viec han che tien gia va on dinh tien te

3.2. Can cu vao tin I^v^TchlTc^a tien te

Neu can cu vao tinh vat chat cua tien te, co the chia hinh thai tien te thanh 2loai: Ti6n mat va but te

Giao trinh Ly thuyet tai chinh — tien te

Tien mat la tien vat chat, dirge guv dinh mot each cp the vr hinh dang,-kickt—tfyudc, trong lirgng, mau s5c, ten goj The manh Ion nhat cua tien mat d6 lakha nang thanh khoan cao nhat va jihanhjihat, nghTa la co mot sure mua cothe dirge sir dung tore thi, mac du no hoan toan khong sinh lai, tham chi giatri thyc cua no co the bi bao mon trong truong hgp co lam phat cao (neu ladau hieu gia tri)

• Tien ghi so (but te)

Tien ghi so la tien te phi vat chat, ton tai diroi hinh thuc nhung con so, ghitren tai khoan tai ngan hang Dong tien ghi so dirge cau thanh bdi nhirng so

du co tren tai khoan tien gui tai ngan hang Loai tien giri nao duoc coi la tienghi so tiiy thuoc vao muc cung tien te cua moi quoc gia dugc do luong theophep do nao (Ml, M2, M3, L) Viec sir dung ddng tien ghi so dugc thuc hienbang cac but toan ghi Ng va C6 tren cac tai khoan tien gui tai ngan hang.Cung voi su phat trien manh me cua ngan hang, thanh toan bang tien matgiam dan, qua trinh thanh toan dugc tap trung dai bp phan qua ngan hangthong qua cac but toan chuyen khoan hoac thanh toan bii trir tren tai khoan

ky thac Su ra ddi cua tien ghi so ciing voi cac phuong tien thanh toan nhusec, lenh chuyen tien, giay nho thu tao dieu kien da dang cac hinh thucthanh toan va phugng tien thanh toan, tiet kiem chi phi giao dich vi co nhieukhoan thanh toan co the bii trir cho nhau thong qua ngan hang, tang cuonghieu qua kinh te do tang nhanh toe dp luu thong hang hoa, giam chi phi liruthong tien mat nhu chi phi in an, chi phi phat hanh, kiem dem, bao quan, vanchuyen , bao dam an toan trong viec su dung dong tien, tao dieu kien thuanIgi cho ngan hang trung uong trong viec quan ly va dieu tiet tien te

Vi vay, viec su dung tien ghi so (tien qua ngan hang) ngay cang phat triBn,tro thanh xu the tat yeu cua nen kinh tB hien dai Dac biet, su phat triBnkhong ngirng voi toe dp nhanh cua cong nghe dien tu va tin hoc cung nhu sirung dung cua chung trong cong nghiep ngan hang, hua hen mot he thongthanh toan hieu qua trong do viec su dyng cac cong cu thanh toan dien tu tronen pho bien Hien nay, d nhung nude co nen kinh te thi truong phat trien,trinh dp cong nghe ngan hang hien dai, ddng tien ghi sd chiem tu 90% den95% trong tong lupng tien cung ung

Chtcang 1: £)(ii ctratig lien te

Nhir vay, sur phat trien cua tien ghi so da lam cho tien te ndi chung tro nonmem deo va da dang hon vi nd co the ton tai duoi d^ng phi vat chat Tuynhien cung luu y ring, viec sur dyng tien ghi so cung co nhung h^n che nhatdinh nhur: can phai co thoi gian de chuyen sec, thoi gian can thiet de cd thesir dung so dur tren tai khoan, chi phi danh cho viec xur ly cac chirng tir thanhtoan Do do, sur phat trien cua he thong ngan hang, su phat trien cua congnghe thanh toan qua ngan hang la rat can thiet va quan trong quyet dinh surphat trien cua tien ghi so

4 CHtfC NANG CUA TIEN TE

Du tien la bat cur vat gi trong nen kinh te, nd deu co^chuc nang co ban; do la:phirong tien do luong gia tri, phirong tien trap doi, phirong tien rich luy Trong

3 chirc nang nay, chirc nang phirong tien trao doi chinh la ban chat co ban dephan biet tien voi cac loai tai san khac nhir chirng khoan, bat dong san

4.1 Chirc nang thuro,c do gia tri -^.4',-. ■•?/; ico v - t *

' c

Day la churc nang dau tien co ban cua tien te, voi chirc nang nay, tien_duocsir dung de do luong va bieu hien.gia tri c.fiaxac hangjida_khac 5d di tien cdthe do luong dirge gia tri cua cac hang hda khac vj tien t^ ladiang hda, tir thegioi hang hoa tach ra lam tien te Dong tien khi do dugc gia tri hang hoa, ndhoan thanh dirge chirc nang thiroc do gia tri Neu nhin tir goc do nay, cd thedinh nghTa tien te la tai san ma qua do ngudi ta the hien gia cua tai san khac.Gia tri cua hang hoa la pham trii triru tirgng, do do viec do luong gia tri cuacac hang hoa khong nhat thiet phai cd tien thuc su trong tay moi cd the lamdirge viec nay Gia tri cua hang hoa sau khi do lirong dirge bieu hien bangnhirng don vi tien te goi la gia ca hang hoa Gia ca hang hoa chiu anh hirdngtrue tiep bdi hai nhan to do la gia tri cua hang hda va gia tri cua tien_te Gia

ca hang hda bieu hien bang so lugng nhirng don vi tien te, do do de do luonggia tri hang hda va bieu hien gia tri hang hda duoi hinh thai gia ca, doi hoiban than tidn te phai dugc quy dinh don vj tien t? va don vi tien te do phaidugc tieu chuin hda - goi la tieu chuan gia ca

Tieu chu5n gia ca la don vj tien te cua mot nude dung de bieu hien gia ca cuamot hang hda khac Nd bao gom hai yeu to: ten goi cua don vj tien te va ham

Giao^/rinh Ly thuyet tai chfnh — lien te

kim Iirgng quy dinh cho mot don vi tien te Dem vj tien te luc dau do congchung tir phat lira chon va quy iroc, ve sau do chfnh quyen quy dinh Gia cahang hoa tirong ung voi cai ma hang hoa ay cho phep co dirge thong qua traoddi Cac hang hoa voi nhCrng gia tri khac nhau doge qui ve cung mot don vi

do lirong la tien te thong qua gia ca, tao nen str de dang va thuan tien khi sosanh gia tri giira chung

De thay vi sao churc nang nay quan trong, chung ta hay nhin lai mot lan n&avao n6n kinh te hien vat trong do khong co vai tro cua tien te

Bang 1.2: So Iirgng gia trong mot nen kinh te hien vat irng vol so Iirgnggia trong mot nen kinh te tien te

(Ngiion: Mishkin 1999)

So hang hoa So lugng gia trong nen kinh

te trao doi hien vat

So Iirgng gia trongnen kinh te tien te

Neu trong mot nen kinh te hang hoa trao doi true tiep, co n hang hoa, thi se

co n(n-l)/2 gia ca lien quan Chi vai 100 hang hoa, tren thi trirang se cdgan 5000 gia ca tirang ung khac nhau, nhir vay rat phurc tap, thai gian dung

de doc cac bang gia hang hoa se dura den mot chi phi giao dich rat lan Giaiphap cho van den nay la dira tien vao nen kinh te va dinh gia tat ca cachang hoa bSng don vi tien te chung Neu tat ca gia ca hang hoa deu chidirge bieu hien bang mgt dan vj chung do la tidn te thi he thong gia ca trenthj trirdng se tra nen dan gian han nhieu, so Iirgng gia ca va so lugng hanghoa la nhir nhau

Nhir vay, chirc nang thirac do gia tri cua tien te cung gop phan vao viec tangcuang tinh hieu qua cua san xuat xa hgi

Chiconig 1: Dpi ciconig lien tf>

4.2 Chfrc nang phirong tien trap doi

Vai churc nang thuoc do gia tri, tien te moi chi la thuoc do, dimg de do luang

va bieu hien gia tri hang hoa trong quan niym va trong y thue Muon gia trihang hoa dirge thurc hien thgc sg, hang hoa bien thanh tien te thgc sg, tien tephai thgc hien churc nang trao doi

Tien te lam phtrong tien trao doi khi tien te lam moi giai trung gian cho quatrinh trao doi hang hoa Khi tien te lam phirong tien trao doi, sg van dgngcua tien te c6 the gan lien vdi sg van dong cua hang hda_, phuc vu cho sg.qhuyen dich quyen sd huu hang hoa tvr chu the nay sang chu the khac Tuynhien, san xuat va luru thong hang hoa cang ma rong thi vide mua hang hoa

va ban hang hoa cang tach rai nhau do thai gian san xuat cac loai hang hoadai ngan khac nhau, thoi vu san xuat, thi truong tieu thu cac loai hang hoacung khac nhau Co nhieu ngurai ban san sang ban hang vi ho can phai ban

ma nhung ngurai mua thi lai chua du tien hoac chura muon mua, hg phat sinhnhu cau mua hang trirac khi ban Do do xuat hien quan he mua chiu Jianghoa va tra tien sau Khoan tien mua hang tra thanh mot mon ng, trong triranghop nay lien tela cong cu de tra ng Vi vay, khi tien te lam phurang tien traodoi sg van dgng cua tien te cung cd the tach rai hoac doc lap tirang doi soCC3> Kai sg van dong cua hang hoa, bieu hien trong quan he mua ban chiu hanghoa, trong cac quan he tra tien vay ng, tra tien lirang, tien cong, tien thuenha, tien dien, tien nude, nop thue

Nhu vay khi co tien lam phirong tien trao doi, qua trinh trao doi hang hoadirge trai qua 2 giai doan: H-T bien hang hoa thanh tien te va T-H bien tien

te thanh hang hoa Qua trinh trao doi tien hanh lien tuc lam cho tien te vandong lien tuc va ngay cang bo xa diem xuat phat cua no “Sg van dong maliru thong hang hoa buoc tidn te phai theo, lam cho tien te luon luon xa raididm xuat phat cua nd de luon luon chuyen tir tay ngirai nay sang tay nguraikhac, do la cai ma ngirai ta ggi la liru thong tien t?” (Nguon: Marx 1962).

Dd tidn te cd thd dirge chap nhan pho bien lam phirong tien trao doi, doi hoitien te phai thoa man cac dieu kien: cd sire mua on dinh, so lirgng tien te dudap urng nhu cau trao doi, ca cau tien te phii hgp Dieu nay phu thuoc rat Ionvao vai tro cua ngan hang trung trong, dac bi?t la trong dieu kien liru thongtidn giay <*.') ro V

■* ?' 1 c - O -_ C

Giao trinh Ly thuyet tai chinh — lien te

Vai chuc nang phuang ti?n trao doi, tien te da tao dieu kien tiet kiem then

gian phai chi cho qua trinh mua ban hang hoa do do lam giam chi phi giao

djeh so vai qua trinh trao doi hang hoa true tiep (nai qua trinh mua ban chi

thyc hien dupe khi co su trung hgp kep ve nhu cau giua nguai mua va nguai

ban), thuc day qua trinh chuyen mon hoa va phan cong lao dong xa hoi Qua

do sy xuat hien cua tien te vai tu each la trung gian trong trao doi gop phan

thuc day tinh hieu qua cua nen kinh te Ngoai ra, tien te lam phuang tien

thanh toan con co tac dung giam luu thong tien mat, thuc hien thanh toan

khong dung tien mat, ma rgng hoat dong tin dung, tao dieu kien su dung von

hieu qua, tiet kiem dugc chi phi luu thong tien mat

4.3 Chuc nang phuang tien tich luy

Khi day chuyen mua ban trao doi hang hoa bi dut doan do nguai ban sau khi

ban hang giu tien lai chua muon mua hang ngay, tien nit khoi qua trinh luu

thong, day chinh la tien thuc hien chuc nang phuang tien tich luy

Tien te thuc hien chuc nang phuang tien tich luy gia tri khi tien te tarn thai tra

vg trang thai nam im de du tru gia tri, thuc hien cac chuc nang trao doi trong/tuang lai Nhu vay, khi tien thuc hien chuc nang tich luy, tien te la cong cu cat

giu sue mua qua thai gian, la sgi day noi lien hien tai va tuang lai

Khi san xuat hang hoa chua phat trien, nguai ta cat giu tien te chu yeu nham

muc dich giu lai nhung san pham thang du cua minh, hoac de co the tiep tuc

mua hang hoa trong truang hap khong ban dugc Trong nen kinh te hang hoa

phat trien, tien te ngay cang co quyen luc to Ion, long ham muon cat giu tien

te ngay cang tang va vai nhung muc dich da dang han

Trong thuc te, tien te khong phai la phuang tien duy nhat de clt tru gia tri

ma cd nhieu hinh thuc de cat giu gia tri nhu: co phieu, trai phieu, cac giay ta

co gid khac Mac du cac hinh thuc cat tru gia tri khac ngoai tien te co the

dem lai cho nguai sa huu mot muc sinh lai cao han, nhung cong chung van

cat tru gia trj dudi hinh thuc tien te vai mgt ty le nhlt dinh bcri tinh thanh

khoan cao cua tien te Vai chuc nang nay, tidn te da tao nen phuang tien clt

tru an toan vai tinh long cao Mac du khong phai la phuang tien cat giu gia

tri hap din nhat trong dieu ki$n kinh te thi truong vi chi phi ca hoi ma nguai

cat tru "phai tra", nhung Igi the han hdn cua tien te so vai cac phuang tien

khac la tinh long cua nd

Chiron g 1: Dpi circrng tien te

Tuy nhien, khi tien te thuc hipn chuc nang phuong tien tich luy, tien te duocdung lam phuong tien bao ton va dy trd gia trj, do do vice thyc hipn chucnang phuong tien tich luy cua tien te tot hay khong con phu thupc vao sy ondinh sue mua cua tien te Khi muc gia ca chung cua hang hoa tang len, suemua cua tien te giam, gia tri cua tien te se giam di va nguoc lai Sy mat gianhanh chong cua tien te se lam cho ngudi ta it muon giu no, dieu nay thuongxay ra khi lam phat cao Vi du sieu lam phat xay ra o Due sau the chien thu

I, voi ty le lam phat vuot qua 1000%/thang Nam 1923, sau 2 nam lam phat,gia ca hang hoa tang 30 ty lan (Nguon: Mishkin 2001) Khong ai muon giutien va nhu vay viec dung tien de thuc hien cac giao dich bi giam manh, viectrao doi bang hang hoa dan trd lai ngu tri, chi phi giao dich tang len, sanluong trong nen kinh te giam sut nghiem trpng Vi vay, tien te phai co suemua on dinh, day la dieu kien can ban de cho tien te co the thuc hien totchuc nang phuong tien tich luy cua minh

Qua nghien cuu cac chuc nang cua tien te, cho thay cac chuc nang cua tien te ,the hien ban chat cua tien te, chung khong the tach roi nhau ma co moi lienquan mat thiet trong mot the thong nhat Khi tien thuc hien chuc nang thuoc

do gia tri, tien moi do luong va bieu hien gia tri cua hang hoa, nghTa la laodong xa hoi ket tinh trong hang hoa moi chi duoc bieu hien Khi tien thuchien chuc nang phuong tien trao doi, khi do gia tri cua hang hoa moi hoantoan duoc thuc hien tron ven, nghTa la tinh chat lao dong xa hpi cua hang hoamoi duoc chung minh hoan toan day du Tien te thuc hien dupe ca hai chucnang thuoc do gia tri va phuong tien trao doi thi moi tro thanh vat true tiepdai bi£u cho gia tri, cho cua cai xa hpi, do do moi thuc hien dupe chuc nangphuong tien tich luy

Khi quan he trao ddi hang hoa dupe mo rpng ngoai pham vi thi truong dantpc, hinh thanh quan he ngoai thuong giua cac nuoc, khi quan hp kinh te chinhtri xa hoi giua cac nuoc phat trien, ddi hoi cd vai trd tien te tham gia phuc vucho nhung moi quan he do Khi tien te thuc hien dupe cac chuc nang cua notren pham vi the gioi, co nghTa la tien te da trd thanh tien tp the gioi

Nhu vay, khi lam tien te the gioi, tien te khong chi la phuong tien thanh toan

de tra nhung khoan mua chiu, nhung khoan no vay den han, nhung khoanchenh lech do chi Ion hon thu trong can can thanh toan quoc te m& con lam

Giao trinh Ly thuyet tai chinh - lien te

phurong ti?n de mua hang trong truong hap phai tra bang tien mat, phirangti?n di chuyen tai san tir nirac nay sang nude khac trong trurang hap cho vay,vien tra, boi thuong chicn tranh Vai vai tro nay, tien te tra thanh vat thehien tai san chung cua xa hoi loai ngirai

“Chinh a tren thi trurang the giai va chi co a tren thi trurang the giai thi tien

te moi lam chuc nang cua no mot each hoan toan day du nhur mot thu hanghoa ma hinh thai tu nhien dong thoi cung la sir hien than xa hoi cua lao dongcon ngirbi noi chung” (Nguon: Marx 1962)

Vd mat ly thuyet, muon thuc hien duoc chuc nang tien te the giai, tien tephai la tien thirc: tien vang tra ve dang nguyen the cua no la thoi nen nguyenchat “ Khi ra khdi Imh virc luu thong trong nude, tien te trut bo nhung hinhthai dia phirong cua nd: hinh thai tien due, tien phu, hinh thai tieu chuan gia

ca, dau hieu gia tri, de tra ve hinh thai dau tien cua nd la thoi nen ”

(Nguon: Marx 1962) Tuy nhien trong thirc te hien nay, trong giao dich quoc

te, nguoi ta thuong khong dung vang de thanh toan true tiep ma diing nhungdong tien quoc gia hoac dong tien tap the, la nhung ngoai tejnanh, cd suemua quoc te Ion nhu: USD, EURO Nhung dong tien do dang dong vai tro

la tjen te quoc te

Diem man chot la che do tien te hien hanh la che do tien dau hieu gia tri, masir dn dinh gia tri tien te cua nd phu thuoc vao kha nang kiem soat khdiluong tien te trong luu thong Muc do dn dinh cua gia tri tien te quyet dinhkha nang thuc hien cac churc nang cua nd, va vi the ma quyet dinh tinh hieuqua cua viec su dung tien te nhu la phuong tien do luong cac hoat dong kinh

te, giam chi phi giao dich trong luu thong hang hoa va day manh ty le tietkiem nham dap ung nhu cau dau tu cua nen kinh te Tinh trang do la hoa luuthong tien te la mot bieu hien sut kern trong kha nang dam duong churc nangtien te cua dong noi te

5 VAI TRO CUA TIEN TE TRONG NEN KINH TE

5.1 G6p phan thuc day tinh hieu qua cua nen kinh te

Su xuat hi?n cua tien te da thay the mot each hoan hao tu ndn kinh te trao dditryc tiep sang nen kinh te tien te Nhung Ipi the cua ndn kinh te tien te so vdi

Chiccmg 1: Dai circnig tien te

kinh te trao doi tryrc tiep dirge the hien a chinh vai tro cua tien t? thong quacac chuc nang cua no:

I Voi chuc nang thuoc do gia tri, tien te da tao nen su de dang va thu£n tienhon khi so sanh gia tri giua cac hang hoa Tien t| tro thanh cong cu hachtoan cac qua trinh san suat kinh doanh, do luong hieu qua san xuat kinhdoanh, thuc day tinh hieu qua va kha nang canh tranh cua cac chu the trongkinh doanh

Vai chuc nang trao doi, tien te da giup tiet kiern thoi gian phai chi cho quatrinh mua ban hang hoa do do lam giam chi phi giao dich cho toan xa hoi, tu

do giam bot tinh bat on cua cac quan he trao doi, tu do lam tang tinh hieuqua cua nen kinh te

- ■"

Vol chuc nang trao doi, tien te voi tu each la trung gian trong trao doi datao dieu kien thuc day qua trinh chuyen mon h6a va phan cong lao dong xahoi ngay cang cao

- - Tien te thong qua chuc nang cua no la co so de hinh thanh nen hoat dong

L tai chinh tin dung nham phan phoi lai von tien te trong toan bo nen kinh temot each cd hieu qua

5.2 Cong cu tich luy va tap trung von cho xa hoi

Vai chuc nang tich luy, tien te giup cac chu the trong nen kinh te thuc hienmuc tieu tich luy tap trung von de dang tien lai, phuc.y.uJihii can ma rang tai-san xuat va chi tieu

Dac biet, trong dieu kien he thong ngan hang phat trien, th j truong tai chinhphat trien, cac chu the khong chi nam giu tien te duoi dang tien mat, ma con

co the cat giu duoi hinh thuc but te tai ngan hang, hoac cac cong cu taichinh, vua an toan, vua sinh lai, do do cang thuc day qua trinh tich luy vatap trung von cho toan bo nen kinh te

5.3 Gop phan phat trien cac quan he kinh te quoc te

Vai chuc nang tien te the giai hoac tien te quoc te, tien te trd thanh cong cuhuu ich giup mot quoc gia ma rong cac quan he kinh te cua minh ra the giai,ddng thai thu hut cac nguon luc the giai vao quoc gia minh._

Giao trinh Ly thuyet tai chinh — lien te

Trong dieu kien xu the quoc te hoa kinh te the gioi ngay cang cao, tien te trothanh cong cu quan trong nhat trong dieu hanh cac chinh sach kinh te doingoai, do lirong hieu qua cua cac quan he kinh te quoc te, trong do, cac quan

he ty gia, quan he tin dung quoc te, quan he dau tu quoc te, quan he thanhtoan quoc te la nhirng quan he chu yeu va quan trong de hinh thanh chinhsach kinh te doi ngoai cua moi nude

5.4 Cong cu quan ly kinh te vT mo

Sau khung hoang kinh te tai chinh the gioi 1929-1933, van de quan ly vT monen kinh te nham giam nhe cac bien dong chu ky va thiet lap cac can doi chuyeu cua nen kinh te tro thanh yeu cau cap bach cua hau het cac quoc gia.Trong trao luu nay tien te ngay cang to ro la cong cu quan ly kinh te vT mo sicben va co hieu qua tren co so loi dung co che thi tnrdng de tac dong vao cacmuc tieu co ban cua kinh te vT mo: san lirong gia ca, va cong an viec lam

Trade het tien te dirge su dung de xay dung ke hoach phat trien kinh te quocdan va thiet lap cac moi quan he can doi ve mat gia tri trong toan bo nenkinh te

Tien te duoc su dung lam cong cu de xay dung cac chinh sach kinh te vT monhu: chinh sach tai chinh, chinh sach thu nhap, chinh sach kinh te doi ngoai

va chinh sach tien te Cac chinh sach nay tac dong vao cac bien s6 kinh td vT

mo trung gian nhu: thue, chi tieu ngan sach, gia ca, thu nhap, ti gia, lugngtien cung ung va lai suat, qua do ma dat duoc cac muc tieu cua nen kinh te

Tien te con la cong cu de xay dung mot he thong chi tieu kiem scat ve matgia tri doi voi moi mat hoat dong kinh te, la can cu dS thanh tra giam sat va

xu ly cac vi pham nham dam bao su 6n dinh va hieu qua trong cac hoat dongkinh te cua mot quoc gia

6 CHE DO TIEN TE

6.1 Khai niem va noi dung cua che do tien te

Ch£dcLtieiLtllLLQaDj2Q.iihun^ _chirc lira thong tien te cua mot niroc trong do cac y£ii tAkhac nhau cfiahmthong tien te duoc ket hop mot each thpngjihdt (Ngudn: Marx 1964)

Chuvng 1: Dqi cuong lien te

Nhir vay, che dp tien te mana; tinh chat chu guan, do nha nir6c quy djnh Moiqu6c gia khac nhau co the co che dg tien tq khac nhau Noi dung cua che dqtien la quy dinh he thong cac ycu to nhir: Phuong tien tien te, don vj tien te,

co che due tien, co che phat hanh tien giay Cac yeu to nay co quan he htru

co thong nhat voi nhau

• Phirong tien tien tc

La nhirng phirong tien kru thong va phirong tien thanh toan do nha niroc quydinh nhir: tien due (tien due du gia, tien due khong du gia), tien giay (tiengiay kha hoan, tien giay bat kha hoan), but te

Viec lira chon loai gi lam phirong tien tien te d mot niroc la do nhirng dieukien khach quan ve kinh te chinh tri cua niroc d6 va dia vi cua niroc do tren

th j trirong the gioi trong timg giai doan lich sir quyet dinh

• Po’n vi tien te

Don vi tien te con goi la tieu chuan gia ca cua dong tien Khi quy dinh don vitien te, phai quy dinh: ten goi va ky hieu don vi tien te, ham kim hrongtirongumg voi mot don vj tien te, ket cau cua don vi tien te

Phuong tien tien te o cac niroc co the giong nhau, nhirng don vi tien te giiiacac niroc thi hoan toan khac nhau Vi du don vi tien te Viet Nam ten goi la

“dong”, ky hieu quoc gia la “d”, ky hieu quoc te la “VND” Don vi tien te cua

My ten goi la “Dollar”, ky hieu quoc gia la ky hieu quoc te la “USD” Ban than don vi tien te lai dirge ket cau bdi nhirng phan nhd (goi la tien le).Phiin Ion cac niroc don vi tien te dirge chia theo he thap phan 1/10/100 Vi du:(j Viet Nam thoi Gia Long, don vi tien te la “Quan”, 1 Quan = 10 Tien = 600DiSu Thoi nha Le, don vi tien te cung la “Quan”, 1 Quan = 10 Tien = 600Ddng (Nguon: DO Van Ninh 1992) Hien nay, o Viet Nam, don vj tien te la

“ddng”, 1 Dong = 10 Hao = 100 Xu (Nguon: Luat Ngan hang Nha mrorc 2010)Trong didu kien kim loai dirge chon lam co so cua toan bo che dg liru thongtien te cua mot niroc, viec liru thong tien giay cung phai dir a vao gia trj cuakim loai do (vi du nhir vang hoac bac) thi kim loai do dirge goi la ban vj vakhi quy djnh tieu chuan gia ca cho tien giay, nha niroc phai quy djnh hamIirong kim loai quy cho mot don vj tien te theo ten goi cua no Trong dieu

Gido trinh Ly thuyet tai chinh — lien te

kien ngay nay, khi kim loai khong dirge chon lam ban vi, viec quy dinh tieuchuan gia ca cho dong tien chi con don thuan la viec xac dinh ten gpi, kyhieu cua don vi ticn te va ket cau tien te, khong can phai quy dinh ham kimkrpng cho mot don vi tien te nua

• Co' che due ticn

Trong trirong hop kru thong tien due bang kim loai, che do tien te phai cocac quy dinh ve co che due tien Moi nuoc co luat due tien va luat liru thongtien due rieng, cong dan trong nuoc buoc phai chap hanh luat do Ung voimoi loai tien due co co che due tien rieng Doi voi tien due du gia la tiendue bSng vang_hay_bac ma gia tri trao doi cua no phu hop voi gia tri noi taicua ban than kim loai quy, ap dung co che due tien tu do, trong do cho phepmoi nguoi dirge tu do due tien tai so due tien theo tieu chuan gia ca do nhanuoc quy dinh, ma khong phai tra phi ton due tien hoac phai tra nhung voimuc khong dang ke Tien due du gia co kha nang chi tra khong han che

.Doi voi tien due khong du gubja tien due bang kim loai thuong ma gia tri traoddi cua no Ion hon gia tri noi tai cua ban than kim loai do, ap dung co che duetien han che Voi co che nay, nha nuoc nam doc quyen trong viec due tienkhong du gia, tu nhan khong dirge due tien loai nay Tien due khong du giachu yeu la su dung cho tien le de dap ung cac nhu cau giao dich nhd Khanang chi tra cua tien due khong du gia bi han che Vi du, thdi ky Nga SaHoang due 2 loai tien: tien due du gia do la tien vang 5 Rup, 10 Rup Tien duekhong du gia do la ticn bang bac va bang dong, 1 Rup va duoi 1 Rup Gia trinoi tai cua 1 Rup bac chi bang 1/3 gia tri noi tai cua 1 Rup vang, nhung theoquy dinh cua phap luat, gia tri trao doi cua 1 Rup bac bang gia tri trao doi cua

1 Rup vang Gia tri noi tai cua 1 Rup dong chi bang 1/4 gia tri noi tai cua 1Rup vang, nhung theo quy dinh cua phap luat, gia tri trao doi cua 1 Rup dongteing gia tri trao doi cua 1 Rup vang Tuy nhien tien due bang bac va bangdong bi han che ve kha nang chi tra Trong giao dich, nguoi ban hang coquyen chi nhan khong qua 25 Rup cho mot lan chi tra neu la tien bac va 3 Rup

cho mot lan chi tra neu la tien dong (Nguon: Marx 1964)

Nha nuoc quan ly chat che viec phat hanh va luu thong tien due khong dugia nham muc dich han che phat hanh tien qua muc vao trong luu thong vatang them nguon thu cho ngan sach nha nuoc