Yen exchange rate conversion

The conversion formula between Japanese yen and RMB is Japanese yen = RMB * exchange rate. Exchange rates are divided into direct quotations and indirect pricing methods. The direct quotation method, also known as the price payable method, is to calculate how many units should be paid in the local currency based on a certain unit of foreign currency (1, 100, 10000,10000). It is equivalent to calculating how much local currency should be paid for purchasing a unit of foreign currency, so it is called the payable price method. In the international foreign exchange market, including China, direct quotation is currently adopted. For example, the exchange rate of Japanese yen against US dollar is 1 19.05, that is, 1 US dollar is 1 19.05 yen.

Indirect pricing method is also called accounts receivable pricing method. It calculates the foreign exchange receivable currency of several units in the domestic currency of a unit (such as 1 unit). In the international foreign exchange market, euro, pound and Australian dollar are all indirectly priced.

Extended data:

Measures for the Administration of Foreign Exchange for Individuals Article 5 Individuals shall handle relevant foreign exchange business in accordance with the provisions of these Measures. Banks shall handle foreign exchange receipts and payments, settlement and sale of foreign exchange and open foreign exchange accounts for individuals in accordance with the provisions of these Measures, and examine the authenticity of valid identity documents and relevant certification materials submitted by individuals. Remittance agencies and foreign currency exchange agencies (including exchange points) handle personal foreign exchange business for individuals in accordance with the provisions of these Measures.