According to Article 27 of the Regulations on Foreign Exchange Control, the RMB exchange rate is subject to a managed floating exchange rate system based on market supply and demand.
The foreign exchange market is open to different types of buyers and sellers for extensive and continuous currency transactions. Foreign exchange transactions are conducted 24 hours a day except weekends, that is, from 8: 00 GMT on Sunday to 22:00 GMT on Friday. Spot exchange rate refers to the current exchange rate, and forward exchange rate refers to the exchange rate quoted and traded on the same day, but paid on a specific date in the future.
The fluctuation of a country's foreign exchange market will have an impact on import and export trade, economic structure and production layout. Exchange rate is the most important adjusting lever in international trade. A falling exchange rate can promote exports and curb imports.
Extended information and foreign exchange tips:
In the foreign exchange quotation, English words are often seen, and three English letters are used to represent the currency name.
dollar
euro
yen
pound
The exchange rate is generally expressed in five digits, and the last digit changes 1, which is the smallest exchange rate change and is called 1 point. The standard gold in hand is 100 ounce.
Baidu encyclopedia-exchange rate
Baidu Encyclopedia-Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management