Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
In early trading on Tuesday, USD/CNH hit a yearly high of 7.3126 driven by the catalyst for China’s economic downturn, and was close to 7.2940 as of press time. In…
