The RMB exchange rate system is a managed floating exchange rate system based on market supply and demand and adjusted with reference to a basket of currencies. Since July 2, 2005, China began to implement a managed floating exchange rate system.

The new RMB exchange rate system takes the market exchange rate as the only value standard of RMB against other countries' currencies, which makes the foreign exchange supply and demand in the foreign exchange market become the main basis for determining the RMB exchange rate.

Reply time: 2022-0 1-30. Please refer to the latest business changes announced by Ping An Bank in official website.