1978 After the Third Plenary Session of the Eleventh Central Committee-after China's reform and opening up, the Administration of Foreign Exchange of China Municipal Government decided to announce the foreign exchange quotations (including the median price, spot price/cash price, bid price/selling price) to the citizens of the whole country from time to time every Friday or so. It is mainly converted in the form of US dollars and Hong Kong dollars, and several other major foreign exchange quotations have also been converted (for example, US dollars, Japanese yen, German marks, British pounds and Hong Kong dollars were all converted in the form of the middle price benchmark). Moreover, foreign exchange control was very strict at that time. In order to exchange foreign currency, you have to go through quite a lot of formalities at the designated bank (Bank of China), such as showing your passport and letter of introduction, before you can exchange RMB cash into a certain amount of foreign currency cash (individuals cannot exchange foreign currency cash). Therefore, we can only provide the intermediate exchange rates of USD against RMB and USD against JPY after 1979. (Very little information is available. Perhaps the unofficial figures are 1976, 1 US dollar against 1.2 yuan RMB, 1 US dollar against 240 yen, which translates into 100 yen against 0.5 yuan RMB -⊙ ⊙ B! ! Now 100 yen against 6.3 yuan RMB)

According to my investigation, I will tell you the following data of 1979: the annual average price of 1 is USD/JPY 219.45438+0;

In 1979, the average annual price of USD against RMB is 1 USD 1.5550 RMB.

Converted into 100 yen to 0.7 1 RMB. Take this as an example to illustrate.

USD/JPY:

At the end of 1979, the central parity of the US dollar against the Japanese yen was 1 2 19. 14 yen.

At the end of 1980, the central parity of USD against JPY was 1 USD against JPY 226.74.

198 1 The year-end median price of USD against JPY is 1 USD against JPY 220.54.

The year-end median price 1982 USD/JPY is 1 USD/JPY 249.08.

At the end of 1983, the central parity of USD against JPY was 1 USD against JPY 237438+0.

1 At the end of 984, the central parity of the US dollar against the Japanese yen was1237.52 yen.

1 At the end of 985, the central parity of the US dollar against the Japanese yen was1238.54 yen.

At the end of 1986, the central parity of USD against JPY was 1 USD against JPY 168.52.

1 At the end of 987, the central parity of USD against JPY was1USD against JPY 144.64.

At the end of 1988, the central parity of USD against JPY was 1 USD against JPY 128.6438+05.

At the end of 1989, the central parity of the US dollar against the Japanese yen was 1 pair 137.96 yen.

At the end of 1990, the central parity of USD against JPY was 1 USD against JPY 144.79.

Dollar against RMB:

1979 USD/RMB at the end of the year is 1 USD 1.5550 RMB.

At the end of 1980, the central parity of USD against RMB was 1 USD against 1.4984 RMB.

The year-end median price of 198 1 USD against RMB is 1 USD against 1.7045 RMB.

1982 USD/RMB at the end of the year, the middle price is 1 USD 1.8925 RMB.

At the end of 1983, the central parity of USD against RMB was 1 USD against 1.9757 RMB.

At the end of 1984, the central parity of USD against RMB was 1 USD against RMB 2.3200.

1 At the end of 985, the central parity of the US dollar against RMB was1US dollar against RMB 2.9367.

The year-end median price 1986 USD to RMB is 1 USD to RMB 3.4528.

At the end of 1987, the central parity of USD against RMB was 1 USD against RMB 3.75438+0.

1988 USD/RMB at the end of the year, the middle price is 1 USD/RMB 3.75438+0.

1989 USD/RMB at the end of the year, the middle price is 1 USD/RMB 4.75438+0.

At the end of the year, the central parity of 1990 USD against RMB is 1 USD against 5.25438+0 RMB.

1994, the China government carried out the exchange rate reform for the first time: the one-time exchange rate was changed from 1994 yuan to 1 US dollar, which greatly depreciated to 8.7 yuan RMB 1 US dollar. 1994 -2005 RMB exchange rate has been maintained at 8.2-8.7 RMB 1 USD for a long time. From 2005 to 2008, the RMB exchange rate gradually appreciated from 8.0 RMB 1 USD to -6.8 RMB 1 USD. From 2008 to 20 10, the exchange rate of RMB against the US dollar was fixed, which was basically 6.8 RMB 1 US dollar. Since May of 20 10, the RMB exchange rate has appreciated from 6.8 RMB 1 USD to -6. 12 RMB 1 USD now.