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Why does the rise in exchange rate mean the appreciation of RMB?
China's exchange rate adopts direct quotation, that is, USD: RMB = 1:6.xx, assuming that the middle price of foreign exchange quotation is 1: 6.67 on June 20th and 1 on June 20th. Then, if you hold RMB 10000, you can exchange it for USD 1 499.25 in the international market on June 1 day, and RMB 10000 can be exchanged for RMB15/kloc on June/day. You can buy more goods and services (1 5 10.57-1499.25 =11.32), so the RMB appreciated from June1to June10.
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