The RMB exchange rate has gone through a development stage.

1.1949-1953:1949 65438+1October 18 Tianjin liberalized the exchange rate of RMB against the US dollar for the first time, and it was adjusted by1953 for dozens of times. From 1 $ = 80 RMB to 26 170 RMB (195265438+February), the lowest is 42000 RMB (1April 950), which is determined by the weighted average of RMB export price, import price and overseas Chinese commodity price.

2. 1953- 1970: RMB exchange rate is basically unchanged, which is related to the adoption of a fixed exchange rate internationally. State monopoly of foreign trade, 1 unified accounting, import subsidies for exports. 1 $ = 2.46 18 RMB, and the exchange rate does not adjust the import and export.

3.1970 ——1985: RMB exchange rate with a basket of currencies. 7 1 73 USD depreciated twice, and the fixed exchange rate system collapsed. We began to adjust the RMB exchange rate frequently, pegged to "a basket of currencies" and adjusted with the changes of a basket of currencies. Dollar, mark, Japanese yen, British pound and Swiss franc have always been the main currencies in the basket.

1972, 1 $ = 2.2 ￥; 1980 1 USD = 1.5 RMB, and the rising currency value is not conducive to foreign exchange receipts and payments. Since 8 1, the public quotation is 1 $ = 1.5 RMB, and the internal settlement price is 1 $ = 2.8 RMB.

4. After1986, a managed floating exchange rate system was implemented with the US dollar as a limited flexible exchange rate. 199 1 year, 1 $ = 5.4423 RMB, and conscious downward adjustment is beneficial to export exchange. First time:1June to September, 1985, 1$=2.8 was adjusted to 3.20, and depreciated by12.5%; Second time:1July 5, 986 1$=3.7036 depreciation13.6%; Third time:1989 65438+February 16, 1$=4.722 1 devaluation 21.2%; The fourth time:1990165438+10/7,1$ = 5.2221.1985. After that, the adjusted price will be released, with the lowest 1$=5.5 and the highest 650.

5.65438+65438 0994+6543810 +0, RMB is a single managed floating exchange rate system.