Country, also known as “”, is the exchange rate between foreign exchange and local currency.
In China, the state is established by the central bank or the State Administration of Foreign Exchange.
On the basis of the benchmark exchange rate published by the central bank, the foreign exchange operated by banks is set by each bank within the specified floating range.
The exchange rate at which transactions are made on behalf of the customer are fixed by the customer or the customer authorizes the bank to fluctuate within a certain range.
Foreign exchange rates are divided into direct and indirect listed exchange rates according to the method of expression;
According to the number of listed files, it is divided into single file exchange rate and double file exchange rate;
According to the purchase and sale delivery period, divided into and;
According to the transaction payment instruments, it is divided into telegraphic transfer rate, bill exchange rate, letter exchange rate and cash price and so on.
1. Rate of exchange rate depreciation = (old exchange rate/new exchange rate -1) *100. 2. Rate of exchange rate depreciation = (New exchange rate/old exchange rate -1) *100.
The exchange rate is the ratio or price of one country’s currency to another, or the price of another country’s currency expressed in terms of one country’s currency.
Exchange rate fluctuation has a direct regulating effect on a country’s import and export trade.
Under certain conditions, by depreciating the domestic currency, that is, letting the exchange rate fall, it will play a role in promoting export and restricting import.
On the contrary, the appreciation of the domestic currency, that is, the rise of the exchange rate, will play a role in restricting exports and increasing imports.
