What is China’s exchange rate quote? How to query the exchange rate quotation table? Did you know everything? If you don’t know, let’s find out what they mean!
1. What is exchange rate?
Exchange rate refers to the ratio between two currencies, and can also be regarded as the value of one country’s currency against another currency. Exchange rate is also a financial means for countries to achieve their political goals. Exchange rates will change due to interest rates, inflation, politics and the economies of each country.
The exchange rate is determined by the foreign exchange market. The Forex market is open to different types of buyers and sellers, with extensive and continuous currency trading (Forex trading) taking place 24 hours a day.
In the short term, a country’s (or region’s) exchange rate is determined by the demand and supply of foreign currency. Foreign purchases of domestic goods, investment and use of domestic currency will affect the demand for domestic currency. Domestic residents want to buy foreign products, invest in foreign investments and speculate in foreign exchange, affecting the domestic money supply.
In the long run, the main factors affecting exchange rates are: relative price levels, tariffs and quotas, preferences for domestic goods, and productivity.
2. What are the methods for querying exchange rates?
Exchange rate inquiry method 1: Internet inquiry. For Bank of China FX prices, search past FX prices, enter your desired date and FX.
Exchange rate inquiry method 2: Financial related units. National financial regulatory authorities and exchange fund trading units can query exchange rate records of various currencies (such as the China Banking Regulatory Commission, the Exchange Fund Exchange and commercial fund trading units).
Exchange rate inquiry method 3: Bank inquiry. Go to the bank to check, especially the Bank of China. They will have records of the exchange rates of various currencies at various times.
Exchange rate inquiry method 4: Foreign exchange futures fund trading software. You can download some foreign exchange fund trading software, securities trading software, futures trading software, and spot trading software. These will basically have historical market transactions that can be queried.
The above is the exchange rate related content, I hope it will be helpful to you.