According to the exchange rate, 59,000 won is about 352.6078 yuan.
Exchange rate changes have a direct regulatory effect on a country's import and export trade. Under certain conditions, the devaluation of the local currency, that is, the rise of the exchange rate, will play a role in promoting exports and restricting imports. On the other hand, the appreciation of the domestic currency, that is, the decline of the exchange rate, plays a role in restricting exports and increasing imports. ?
Extended data:
Influencing factors of exchange rate
1, fiscal deficit. If a country has a huge budget deficit, its currency exchange rate will fall.
2. Foreign exchange reserves. If a country's foreign exchange reserves are high, its currency exchange rate will rise.
3. The psychological expectation of investors. The psychological expectation of investors is particularly prominent in the international financial market. According to exchange psychology, foreign exchange rate is the concentrated expression of subjective psychological evaluation of money by both foreign exchange supply and demand sides. If the evaluation is high and confidence is strong, the currency will appreciate. This theory plays a vital role in explaining countless short-term or extremely short-term exchange rate fluctuations.
4. The influence of exchange rate policies of various countries.
Bank of China _ Financial Market _ Foreign Exchange Quotation