1978 After the Third Plenary Session of the Eleventh Central Committee-after China's reform and opening up, the Administration of Foreign Exchange of China Municipal Government decided to announce the foreign exchange quotations (including the middle price, spot/cash, bid price/selling price) to the citizens of the whole country from time to time every Friday or so. It is mainly converted in the form of US dollars and Hong Kong dollars, and several other major foreign exchange quotations have also been converted (for example, US dollars, Japanese yen, German marks, British pounds and Hong Kong dollars were all converted in the form of the middle price benchmark). Moreover, foreign exchange control was very strict at that time. In order to exchange foreign currency, you have to go through quite a lot of formalities at the designated bank (Bank of China), such as showing your passport and letter of introduction, before you can exchange RMB cash into a certain amount of foreign currency cash (individuals cannot exchange foreign currency cash). Therefore, we can only provide the intermediate exchange rates of USD against RMB and USD against JPY after 1979. (Very little information is available. Perhaps the unofficial figures are 1976, 1 US dollar against 1.2 yuan RMB, 1 US dollar against 240 yen, which translates into 100 yen against 0.5 yuan RMB -⊙ ⊙ B! ! Now 100 yen against 6.9 yuan RMB)

According to my investigation, I will tell you the following data of 1979: the annual average price of 1 is USD/JPY 219.45438+0;

In 1979, the average annual price of USD against RMB is 1 USD 1.5550 RMB.

Converted into 100 yen to 0.7 1 RMB. Take this as an example to illustrate.