From 1949-1952, the floating exchange rate is adopted. From 1953 to 197 1, the exchange rate of RMB against the US dollar remained at 2.462 RMB pairs 1 US dollar. 1972- 1980 The exchange rate of RMB against the US dollar rose sharply to 1.50 RMB pair 1 US dollar.
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1792 USD is in double standard of gold and silver. According to the Coinage Law promulgated that year, one dollar is equivalent to 37 1.25 grains (24.057 grams) of pure silver or 24.75 grains (1.6038 grams) of pure gold. Until 1873. A dollar worth 24.057 grams of silver is about the equivalent of a Spanish silver dollar.
China's commercial banks only accept and exchange three US dollar bills: 1977- 1995, 4 102 1996-2005 and 2006-20 13.
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1950 version of US dollar bills can no longer be exchanged in banks in China, but can be exchanged in big banks, such as China Bank, which mainly deals in foreign exchange business.
1. 1 USD is 2.75 RMB in 1950.
It seems to be a fact that RMB really depreciates. At that time, the reform and opening up had been going on for some time in the 1990s. In order to further accelerate the pace of reform and opening up, the RMB needs to depreciate to speed up the export volume. When I was in primary school in the 1990s, the bus cost 50 cents, and now my salary is 1 yuan. In the early 1990s, the salary was several tens, and then it rose to 1, once a year in 200 yuan.
After that, the RMB began to depreciate sharply. Later, at 1: 8.3, due to the pressure of RMB appreciation, the central bank changed its peg from USD to EUR, JPY and a basket of currencies. With the weakening of the dollar against the euro, the exchange rate of RMB against the dollar began to rise sharply, but it has been depreciating against the euro and the pound.
Historical changes in the purchasing power of the US dollar-from 19 14 to 20 10.
The website "Dollar Time" (dollartimes.com) calculates the purchasing power change of USD from 19 14 to 20 10 according to the consumer price index. For example, a dollar in 2000 is equivalent to10 in 20 10/.28 dollars; The annual inflation rate is 2.52%. The purchasing power of a dollar in the next few years is equivalent to 20 10:
1990: 1.7 1 USD.
1980: $2.82
1970: $5.73
1960: $7.35
1950: 9. 15 USD
1940: 15.42 USD.
1930: 12.56 USD.
1920:11.43 USD.
The purchasing power of one dollar in 19 14 is equivalent to 2 1.59 dollars in 20 10. Interested readers can go to this website to find the purchasing power of US dollars in any year from 19 14 to 20 10. There are two phenomena that attract people's attention:
First, the purchasing power of the dollar has not changed much in the past 20 years;
Second, the dollar purchasing power of 1920 is less than 1930, while the dollar purchasing power of 1930 is less than 1940. What is the reason? It seems that further research is needed. Preliminary estimates are related to the economic crisis and deflation.
We often see digital reports of GDP per capita in each year. Comparing the historical figures of per capita GDP, we must take into account the changing factors of "money purchasing power".