(1) About the exchange rate

Exchange rate can be understood as price. When the exchange rate rises, the price will rise.

There are two main ways to express the exchange rate: one is based on how much local currency the unit foreign currency is converted into, that is, direct quotation, for example, China's 100 USD =637.35 RMB. In this way, the rise of exchange rate means that the unit foreign currency is converted into more local currency, that is, the local currency depreciates; The other is how much foreign currency the local currency is converted into, which is called indirect pricing method. Under this representation, the rise of foreign exchange rate means the appreciation of local currency.

Most countries in the world quote directly, so there is no special explanation. The direct purchase price is the default purchase price, and the exchange rate rises to the depreciation of the local currency. Generally speaking, the exchange rate refers to the conversion of foreign currency into RMB.

(2) From a professional point of view, "the exchange rate of RMB against USD" and "the exchange rate of USD against RMB" are different. The former is the number of units converted from RMB to USD, and the latter is the conversion from USD to RMB. As far as China is concerned, the former is indirect pricing and the latter is direct pricing. However, due to the default expression of direct price tag, in unprofessional expression, the meanings of the two have become the same, both of which are converted into RMB in US dollars.