Exchange rate means direct and indirect bidding. Direct bidding refers to the unit foreign currency price expressed in local currency. Most countries in the world quote directly, while China quotes directly. As far as the concept of exchange rate is concerned, one currency means the price of another currency, which is just a number.

For example, US$ 65,438 +0 =7 RMB, and 7 is the exchange rate, also called foreign exchange rate. When 7 becomes 8, the exchange rate rises. Under direct quotation, exchange rate rise = exchange rate depreciation = local currency depreciation.

Extended data:

When the local currency depreciates, the price of foreign goods imported by China will be higher than that of similar goods or substitute goods exported by China. Therefore, the domestic demand for such export commodities will increase. In the case of a certain production capacity of export commodities, the greater the elasticity of domestic demand of export commodities, the greater the inhibitory effect on the increase of export commodities.

The depreciation of local currency means the decline of domestic commodity prices expressed in foreign currencies, thus improving the competitiveness of export commodities in foreign markets, attracting more consumers and leading to an increase in exports. However, influenced by other related factors, the impact of exchange rate depreciation on exports will be complicated.

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