Foreign exchange quotation, that is, the foreign exchange listing price of designated foreign exchange banks, is the buying and selling price between various foreign currencies and RMB set by banks (referring to the same foreign exchange quotation of the head office, branches and head offices) according to the middle price of RMB market and the middle price of international foreign exchange market published by the People's Bank of China. This foreign exchange quotation changes in real time, even on the same day.

The exchange rates of domestic monetary units against other monetary units shall be uniformly promulgated by the State Administration of Foreign Exchange. In China, the People's Bank of China announces the central parity of RMB against other major countries daily according to the price formed in the inter-bank foreign exchange market the day before. Traditionally, it is synonymous with exchange rate, exchange rate and foreign exchange market.

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