The RMB exchange rate refers to the equilibrium price of foreign exchange represented by US dollars, that is, the RMB price expressed in foreign exchange. The price of a certain amount of RMB with other factors unchanged.

When other factors remain unchanged, a certain amount of RMB is converted into more foreign currencies, which means that RMB appreciates relative to a foreign currency, that is, the price of RMB expressed in foreign currencies rises and the exchange rate of RMB rises.

It can be seen that when RMB is used as the local currency, the exchange rate can be divided into RMB exchange rate and foreign exchange rate. Foreign exchange rate and RMB exchange rate are two different concepts, and the ups and downs are just the opposite. When the RMB exchange rate rises, the same RMB is converted into dollars.