Foreign exchange reserves have actually been converted into RMB by national financial institutions for domestic use, because only RMB is allowed to circulate in China, so foreign trade income is converted from banks to RMB for exporters, and foreign capital must be converted into RMB to operate normally. In this way, the government has formed foreign exchange reserves, which cannot be used for domestic investment. You earned $65,438+000 in export products, and the safe exchange rate of the bank was changed into RMB for you. This 100 dollar becomes a foreign exchange reserve. When it needs to be imported, it will be used to pay. If you can't use it, or you can't buy it, you can only put it in your hand in the form of dollars or other currencies, and you can't use it at home, because it has been converted into RMB for domestic use. When you come in, you have to change RMB again, that is to say, 100 USD has been changed into RMB twice, so the RMB has depreciated by half.