Exchange rate is also called exchange rate, and it is also called foreign exchange quotation in actual foreign exchange trading business. The exchange rate form of Party A and Party B's currencies is usually written as: Currency A/ Currency B, for example, the exchange rate of US dollar against Japanese yen can be written as USD/JPY. Among them, the one on the left of the diagonal is called the benchmark currency, and the one on the right of the diagonal is called the quotation currency.
Exchange rate system, also known as exchange rate arrangement, is a series of arrangements or regulations stipulated by a country's monetary authorities on the decision, change and adjustment of exchange rate. According to the range of exchange rate changes, exchange rate systems can be roughly divided into two types, one is a fixed exchange rate system, and the other is a floating exchange rate system.