1 In February, 1946, the Kuomintang government and the United States formulated a new currency exchange rate, and determined that1USD was converted into 2020 yuan (that is,1kloc-0/RMB customs deposit or 202 Dongjiu Yuan circulating vouchers), and 100 USD was 202000 yuan (RMB).
Extended data:
The RMB exchange rate generally refers to the quotation of RMB against the US dollar, that is, RMB 1 how many US dollars are exchanged. The appreciation of RMB means the appreciation of RMB exchange rate.
The RMB exchange rate shall be formulated and promulgated by the State Administration of Foreign Exchange before 1994. After the RMB exchange rate 1994+ 1 is merged, a single and managed floating exchange rate system based on market supply and demand will be implemented. The People's Bank of China announced the exchange rate of RMB against the US dollar and other major currencies according to the price formed in the inter-bank foreign exchange market the day before, and the bank took this as the basis.