The official currency of South Korea, the won, is divided into banknotes and coins.
There are four kinds of paper money: 1000 won, 5,000 won, 10000 won, 50,000 won. There are six kinds of coins: 1, 5,10,50,100,500 won.
There are four kinds commonly used:10,50,100,500 won.
The exchange rate of RMB against foreign currency represents the external value of RMB, which is formulated and adjusted by the State Administration of Foreign Exchange on the basis of the principle of independence and unification, with reference to the price comparison level at home and abroad and the exchange rate fluctuation in the international financial market, and announced to the domestic and foreign countries on a daily basis.
As the exchange rate of all foreign exchange receipts and payments, it is the official exchange rate and there is no market exchange rate. Its pricing method adopts the international direct quotation, that is, a fixed unit of foreign currency (such as 100, 10000, 10000, etc. ) converted into a certain amount of RMB to express the exchange rate of RMB against foreign currency.
Extended data:
Disadvantages of RMB appreciation:
1, the economic effect of RMB appreciation is equivalent to the overall increase in export commodity prices. Of course, the consequence is to curb exports, which is obviously not conducive to economic development.
2. The rapid appreciation of RMB will reduce foreign direct investment. If the renminbi appreciates, it means that foreign investors have to pay more dollars, and the consequence is that foreign investment will decrease.
This will lead to an increase in unemployment rate. In China, exports account for about 30% of GDP. If the local currency appreciates, export enterprises will inevitably lose money or even close down, leading to unemployment and further increasing the hidden danger of social instability.
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