Will depreciate, when the country faces the threat of war, the country will start the national machine and start the national manufacturing and financial industries to prepare materials and resources for the war. Then it will inevitably have an impact on the normal economy of the country. If a country's economy is depressed or in crisis, it will start the "printing machine" first because it can't raise funds, which will lead to inflation, thus increasing the depreciation of its currency and lowering its international credit rating, leading to economic crisis or financial crisis. Of course, it will also lead to social disorder and incalculable losses to normal economic life. Of course, even taking special measures will restrict the normal development of social productive forces.

What is the relationship between currency depreciation and appreciation and foreign exchange rate?

The rise of foreign exchange rate represents the appreciation of the former currency and the depreciation of the latter currency. Whether RMB appreciates or depreciates mainly depends on whether the exchange rate rise refers to foreign exchange or RMB. If it is foreign exchange, then the RMB naturally depreciates. If it is RMB, then the RMB is appreciated relative to foreign exchange.

Under the exchange rate relationship, both appreciation and depreciation are relative to foreign currency. The appreciation of RMB against the US dollar is beneficial to imports, while the depreciation of RMB against the US dollar is beneficial to exports.

When the RMB exchange rate rises, that is, the RMB appreciates and the US dollar depreciates, China's export commodities will become more expensive (priced in US dollars) in the international market, foreigners will spend more US dollars to buy, and fewer people will buy China's commodities, so exports will also decrease, and the corresponding enterprises will get less US dollars, so that the central bank can potentially buy less foreign exchange and the foreign exchange reserves will decline.

When the RMB exchange rate falls, that is, the RMB depreciates and the US dollar appreciates, everything is just the opposite. China's exports are cheaper, the dollar in the foreign exchange market will increase, and the foreign exchange reserves will also increase.