Is the exchange rate decline RMB depreciation or appreciation?

There are two ways of exchange rate: direct quotation and indirect pricing, in which direct quotation is widely used. If expressed by direct quotation, the rise of RMB exchange rate means that more RMB can be exchanged for one unit of foreign currency, so RMB depreciates. On the contrary, RMB exchange rate decreases, RMB appreciates, and the local currency of convertible foreign currency decreases.

Reply time: 202 1-05-08. Please refer to the latest business changes announced by Ping An Bank in official website.

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