2. The corresponding foreign exchange rate is the rate, parity or price at which one country's currency is converted into another country's currency; It can also be said that it is a foreign currency price expressed in domestic currency;

3. The local currency exchange rate is equivalent to the indirect pricing method in the exchange rate pricing method. That is, the amount of domestic currency is fixed, and the price of this fixed amount of domestic currency is expressed in foreign currency;

4. The foreign exchange rate is equivalent to the "direct quotation" in the exchange rate pricing method. That is, the amount of foreign currency remains unchanged, and the amount of local currency changes with the change of foreign currency value;

At present, most countries in the world adopt direct quotation as their exchange rate, and China is one of them.