Exchange rate is the domestic price of unit foreign currency stipulated by the state. Due to the implementation of import tariffs, export subsidies and other trade protection
The official exchange rate cannot reflect the true value of foreign currency. Shadow exchange rate is a unit foreign currency expressed in domestic currency.
Shadow price reflects the real value of foreign currency, that is, the exchange rate of a country's currency that is truly convertible, or truly convertible foreign exchange.
-1377 Article 9 Consumption of domestic resources by foreign exchange management of enterprise operators. In the national economic analysis of the project, in order to compare the benefits and costs, it is necessary
Convert all foreign currencies into local currency. This conversion can only use the shadow exchange rate, not the official exchange rate. shadow
Exchange rate is actually the opportunity cost of foreign exchange, which refers to the reduction or increase of foreign exchange brought by project input or output to the country.
Losses or gains brought by the civil economy. It can be obtained by the following formula:
Where:-Shadow exchange rate;
-Official exchange rate;
-The total offshore value of the first batch of export goods expressed in foreign exchange (USD);
-The total CIF price of the first batch of imported goods expressed in foreign exchange (USD);
-If tariffs are imposed on export commodities, the subsidy rate of the first category of export commodities will be negative (negative subsidy);
-the import tax rate of Class I goods.
Shadow exchange rate can also be obtained through official exchange rate plus foreign exchange discount. Foreign exchange discount is the actual value of foreign trade goods.
What exceeds the value calculated at the official exchange rate is the foreign exchange premium.
It can be obtained by the following formula:
Comparing the above two formulas, we can see that the shadow exchange rate can also be obtained by the following formula:
Shadow exchange rate is a unified economic parameter for the state to regulate the economy, which is published by the state on a regular basis.
Calculate the coefficient.