There are usually two ways of expressing the exchange rate, namely the exchange rate of domestic currency and foreign currency.
Domestic currency exchange rate and foreign currency exchange rate are two relative concepts, and their rise and fall produce exactly opposite economic phenomena.
1. The exchange rate of domestic currency is expressed in terms of the amount of foreign currency that can be exchanged per unit of quantity in the country, which is called the exchange rate of domestic currency.
In our country, it is called that, with the price expressed in foreign currency, the formula is 100£¤=x foreign currency.
2. Expressed in terms of the amount of domestic currency that can be exchanged for a unit amount of foreign currency, called the exchange rate.
Our country usually adopts 100 units of foreign currency as the standard, which translates to a certain amount of RMB, that is, to express the price of some foreign currency in RMB, the formula is 100 unit foreign currency = X £¤.
