Why do currencies have exchange rates?

Exchange rate is the exchange ratio of different currencies

Different sovereign countries issue different currencies in order to avoid arbitrage. It is necessary to ensure that the monetary value of hairstyles in each country is relatively consistent.

To put it simply: if a piece of bread sells for 1 US dollar in the United States, it sells for 6 yuan in China. So take a piece of bread as an example, 1 US dollar = 6 RMB.

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