US dollar-yuan exchange rate: what is it and why is it important?

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[unable to retrieve full-text content]What is the yuan’s exchange rate with the US dollar?The exchange rate between the Chinese yuan (CNY) and the US dollar (USD), as with other currency pairs, is the value of one currency against the other. Typically, the yuan’s exchange rate to the US dollar is quoted as USD/CNY to represent how many yuan it takes to buy one US dollar.The US dollar is freely convertible into the currencies of all developed economies without restrictions and its trade-weighted value – expressed by the dollar index…

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