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.
Under normal circumstances, the balance of payments deficit indicates the shortage of foreign exchange, which will lead to the depreciation of local currency and the appreciation of foreign currency; On the contrary, the balance of payments surplus leads to the appreciation of local currency and the depreciation of foreign currency. Since 1994, China's balance of payments has maintained a double surplus in current account and capital account. Judging from this factor, the RMB is under pressure to appreciate.
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The most obvious change brought by the appreciation of RMB to domestic consumers is that the RMB in hand is "more valuable". If you study abroad or travel, you will spend less money than before; In other words, spending the same money can make you do more things than before. If you buy imported cars or other imported products, you will find that their prices have become "cheap" and ordinary people have gained more benefits.
If the RMB appreciates to a reasonable level, it will greatly reduce the burden of importing energy and raw materials in China, and enable domestic enterprises to reduce costs and enhance their competitiveness.
Baidu encyclopedia-RMB appreciation