Exchange rate is the exchange rate between two currencies, and it can also be regarded as the value of one country's currency against another. Specifically, it refers to the ratio or parity between one country's currency and another country's currency, or the price of another country's currency expressed in one country's currency.
Exchange rate changes have a direct regulatory effect on a country's import and export trade. Under certain conditions, the devaluation of the local currency, that is, lowering the exchange rate, will promote exports and restrict imports; On the other hand, the appreciation of the local currency, that is, the rise of the exchange rate, plays a role in restricting exports and increasing imports.
Extended data
The vast majority of Hong Kong dollar banknotes are issued by three note-issuing banks under the supervision of the Hong Kong Monetary Authority. The three note-issuing banks include HSBC, Standard Chartered Bank and Bank of China, and the new purple ten-dollar note is issued by the Hong Kong Monetary Authority. Coins are issued by the monetary authorities.
Since 1983, Hong Kong has established a linked exchange rate system linking the issuance of Hong Kong dollars to the US dollar. When issuing any amount of Hong Kong dollars, note-issuing banks must pay US dollars to HKMA at the exchange rate of HK$ 7.80 to US$ 65,438 +0, and record them in the account of the Exchange Fund before printing money. In this way, the US dollars held by the Exchange Fund provide support for the stability of Hong Kong dollar banknotes.
It is worth noting that all patterns of Hong Kong banknotes are copyrighted. Therefore, without the permission of the copyright owner, no one is allowed to copy the pattern of paper money at will.
Baidu encyclopedia-exchange rate
Baidu Encyclopedia-HKD