The pricing methods of foreign exchange rate are divided into direct quotation method and indirect pricing method, among which

Direct quotation means: based on 1 unit or 100 unit foreign currency, it is converted into a certain amount of domestic currency; Such as RMB, Japanese yen, Hong Kong dollar, etc.

Indirect bidding method refers to the bidding method based on the conversion of a certain unit's domestic currency into a certain amount of foreign currency. Such as pound, euro, etc.

So generally speaking, the RMB exchange rate refers to the price of foreign exchange against RMB. For example, on June 6th, the RMB exchange rate against the US dollar 1 1 is generally expressed as 6.6886, that is, 1 US dollar can be converted into 6.6886 RMB.