$470 =3257.429 yuan
Exchange rate system: it is a system generally adopted by countries to determine the exchange rate between their own currencies and other currencies. It is a systematic stipulation made by countries or the international community on the principles, methods, ways and systems for determining, maintaining, adjusting and managing exchange rates. The exchange rate system has a great influence on the exchange rate decision-making of various countries.
The change of exchange rate leads to the equal difference between the US dollar and the RMB, which changes at any time and the RMB appreciates and depreciates. Participation fluctuates greatly.
Extended data:
economic impact
(1) Impact on trade balance: Impact of exchange rate on import and export: The rise of exchange rate (direct quotation) can promote exports and restrain imports. (Foreign exchange rate rises, local currency rate falls)
(B) the impact on non-trade balance of payments
1. Impact on the balance of intangible trade: the exchange rate of a country's currency declines, the purchasing power of foreign currency increases, and goods and services are cheap. The decline in the purchasing power of local currency and the increase in the prices of foreign goods and services are conducive to improving the balance of payments of tourism and other services in the country.
2. Impact on unilateral transfer income: If a country's currency exchange rate falls, if domestic prices remain unchanged or rise relatively slowly, it will have an adverse impact on the country's unilateral transfer income and expenditure.
3. Impact on capital inflow and outflow: Exchange rate has little impact on long-term capital flow. In the short term, the exchange rate depreciates and capital flows out; The appreciation of exchange rate is beneficial to capital inflow.
4. Impact on official reserves: ① The change of domestic currency directly affects the increase and decrease of domestic foreign exchange reserves through capital transfer and the increase and decrease of import trade volume. (2) The exchange rate of reserve currency falls, which makes the real value of foreign exchange reserves of countries that maintain reserve currency suffer losses. Reserve countries have reduced their debt burden due to currency devaluation and benefited from it.
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