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How big is the appreciation of RMB?
The appreciation of RMB means that the purchasing power of RMB increases relative to other currencies, or residents can exchange less RMB for more foreign currencies. For example, in the past, China residents needed 8 yuan RMB exchange 1 USD, but now China residents only need 7 yuan RMB exchange 1 USD.

The appreciation of RMB is relative to other currencies, that is, the purchasing power of RMB is enhanced. The reason of RMB appreciation comes from the internal motivation and external pressure of China's economic system. The internal influencing factors are balance of payments, foreign exchange reserves, price level and inflation, economic growth and interest rate level. 20 12, the RMB exchange rate has been in a state of ups and downs. By 20 12, 10, 15, the spot exchange rate of RMB against the US dollar hit a new high since 1993.