The exchange rate can't be high or low, as long as it is stable in equilibrium. A high exchange rate is easy to import but difficult to export, while a low exchange rate is easy to import but difficult to export. The rise of RMB exchange rate means the depreciation of RMB. For the same unit of dollars, the required RMB increases, so the RMB depreciates. The lower the RMB exchange rate, the less RMB is needed to exchange the same unit of dollars, so the RMB appreciates.

First, the meaning of exchange rate

"Exchange rate" is also called "exchange rate", that is, the ratio of one country's currency to another country's currency is the price of another currency expressed in one currency. Because of the different names and values of currencies in the world, one country's currency should set an exchange rate for other countries' currencies, that is, the exchange rate.

Second, the RMB exchange rate.

The exchange rate of RMB refers to the quotation of RMB against USD, that is, how much USD RMB 1 or RMB 100 is converted into. With the appreciation of the RMB, the RMB exchange rate has also risen accordingly.

The RMB exchange rate shall be formulated and promulgated by the State Administration of Foreign Exchange before 1994. After the RMB exchange rate 1994+ 1 is merged, a single and managed floating exchange rate system based on market supply and demand will be implemented. The People's Bank of China announced the exchange rate of RMB against the US dollar and other major currencies according to the price formed in the inter-bank foreign exchange market the day before, and the bank took this as the basis.

Third, the expression of foreign exchange rate

Most countries use direct quotation. Under the direct quotation, the fluctuation of foreign exchange rate is inversely proportional to the change of the value of domestic currency: the local currency appreciates and the exchange rate declines; The local currency depreciates and the exchange rate rises. Most of the exchange rates in the market are also directly quoted exchange rates. Such as: US dollar against Japanese yen, US dollar against Hong Kong dollar, US dollar against RMB, etc.

The exchange rate of RMB against foreign currency represents the external value of RMB. On the basis of independence and unification, the State Administration of Foreign Exchange formulates and adjusts the exchange rate in a unified way, referring to the price comparison level at home and abroad and the exchange rate fluctuation in the international financial market, and announces it to the domestic and foreign markets day by day. As the exchange rate of all foreign exchange receipts and payments, it is the official exchange rate and there is no market exchange rate. Its pricing method adopts the international general direct quotation, that is, fixed unit.

(such as 100, 10000, 100000, etc.). )

The amount of foreign currency is equivalent to several thousand RMB, which is used to express the exchange rate of RMB against foreign currency. The amount of foreign currency in a fixed unit depends on the value of each foreign currency, except that the exchange rate of RMB against Belgian franc and Italian lira is 1 10,000.

(10000) units, one hundred thousand (10000) units as the conversion standard of Japanese yen, and one hundred (100) units as the conversion standard of other foreign currency exchange rates.