The quite long period of time after 1949, because execute, is the entrance replaces economic strategy, the capital that needs much foreign currency to import abroad is tasted (basically be mechanical equipment) , accordingly, what the government uses is the method of overmeasure RMB currency value, in order to increase the capacity that this money converts foreign currency.
1949-1978 year a RMB is fluctuant between 1.5-2.5 to the average exchange rate of the dollar, (1975-1996 year the RMB is average to the dollar exchange rate. )
1978, annual RMB is to the average exchange rate of the dollar 1.57. But at the same time, as a result of now the circumstance of overmeasure of RMB currency value, actually blackmarket trades go-between civilian money, without so high exchange rate, it is probably between 7-8. Because was born this at that time many " a form of a address for an official or rich man " , cover from which take many profit.
From 1980 era begins, the RMB began to devalue go situation. To 1993, RMB add dollar has been reduced in exchange rate 5.5. But right now, blackmarket trades medium RMB or under 5.5. Accordingly, the government controls the airspace that cover interest to hit, decide to begin from 1994, the RMB is reduced to the official exchange rate of the dollar 8.3 the left and right sides, the level with blackmarket is about the same.
8.3 right-and-left exchange rate, stabilize all the time from 1994 controlled 2005. Collect from 2005 change begin, the unilateral that the RMB walked out of one wavelengh to amount to 10 years appreciates trend. To 2015, the RMB appreciates to dollar exchange rate 6.3 the left and right sides, make an appointment with than appreciating 2005 30% .
With what because put,was in 2017 economy was added 2016 fast the case that puts delay, the impetus that the RMB appeared to devalue. The RMB is right 2016 the average exchange rate of the dollar is 6.6423, devalued 2017 6.7518. But begin from the second half of the year 2017, the RMB was entered again appreciate trend. Current, the RMB is to the newest exchange rate of the dollar 6.4 the left and right sides.
