The swap rate is the margin between the forward exchange rate and the spot rate.

掉期率是指远期交易率和即期交易率之间的差额.

But the market does not seem to feel this way. The non-deliverable forward exchange rate for the purchase of US dollars is continuously at a significant premium.

但以不交收买入美元远期合约持续出现较大幅度的溢价来看，市场所持看法却可能不同。