Wei Xiaofan also said on the phone that another one seems a little novel now, but in fact it has been a long time throughout the 80s. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

That is, the current mainland of China has completely stopped directly using foreign currencies such as US dollars.

If foreigners want to use money in China, they can only choose to exchange foreign currency such as US dollars for foreign currency coupons and buy various goods specifically for them.

For example, friendship shops, cultural relics shops, duty-free shops, hotels, etc., have all stopped accepting foreign currency directly, and foreigners who want to buy things in these places can only go to the complicated exchange of foreign exchange coupons before buying things.

Even later, the salaries of many Chinese employees of foreign-funded enterprises were originally paid according to the standards of the head office such as US dollars and Japanese yen, but due to the strong demand of the government, this salary had to be exchanged in foreign currency at the bank for foreign currency before being paid to the employees.

If employees of foreign companies want to buy grain, oil, rice and salt, they have to exchange foreign exchange coupons for RMB before they can use them in their daily lives.

In the beginning, Chinese people wanted to enter these foreign shops and hotels and buy imported products that could not be bought in RMB, such as radios, cameras, watches, bicycles, suits, cigarettes, perfumes, leather bags...... Not only must you use foreign exchange coupons, but you must also be led by foreigners or Chinese employees working in foreign-funded enterprises.

It wasn't until the reform, reform, and liberalization deepened that these places that were open to the outside world also needed more turnover, and then it gradually became that as long as you have foreign exchange coupons, you can go in and buy things.

This strategy, in fact, is simply unimaginable in the afterlife.

But this is what really happened in this era, and the reason is that China is extremely short of foreign exchange, so it thought of this way to increase foreign exchange reserves.

In fact, as soon as this strategy came out, many foreigners in big cities became popular.

Usually they just have to take someone into the Friendship Store and other places to buy something, and then they can get benefits.

There are even girls who voluntarily dedicate themselves because of this, which is not so surprising.

Since 1840, the backbone of Huaguo has been broken

Women gave their lives for foreigners

No reason is needed.

Since the official issuance of the order on April 1 this year, making it mandatory to use foreign exchange coupons, it will not be completely abolished until 95 years.

15 years, of course, not the whole process of doing this, in fact, after 92 years, this foreign exchange coupon is basically not used, no fool will use this anymore, even foreigners.

Now, for example, it was announced in April, but it wasn't until the beginning of September that the order was fully implemented.

Including the last time Yin Jun went to the Huhai cultural relics store in July, he used US dollars, not foreign exchange coupons.

Because you are not stupid, you can get US dollars, that is your own credit, if you use foreign exchange coupons, all the credit is in the bank, and your side is just a trading institution, no credit.

Only now, there is really no way to prevaricate the past, so they can only let Wei Xiaofan use foreign exchange coupons.

All right.

Now here's the problem.

Why is everyone so disgusted with the use of foreign exchange coupons?

Normally, even if it's a currency exchange voucher, it's nothing, it's like buying a food voucher at an automatic food ticket vending machine abroad, it's just a value coupon of equivalent exchange.

However, Huaguo's current foreign exchange coupons are not just about exchanging foreign currency.

Foreign exchange coupons have an incredible exchange rate.

For a while, around 2017, the price of foreign exchange coupons as a collectible item rose again.

Yin Jun, who was idle, went to check the past and present life of foreign exchange coupons.

In terms of whiteness, the dual-track monetary system formulated by the State Administration of Foreign Exchange in 81 years is the official exchange rate of 1:5.7 on the one hand, and the exchange rate of the international market is 1:8.7 on the other hand.

But this figure is very inaccurate.

Because in the past three years, the exchange rate of the US dollar against the RMB implemented in China has been around 1:1.5, that is, one US dollar is exchanged for about 1 yuan and 5 cents, which is Yin Jun's personal experience.

In just one year, it is impossible to suddenly depreciate the renminbi sharply to the point where 1 US dollar is exchanged for 5 yuan and 7 cents.

Therefore, Yin Jun prefers a chart of the exchange rate between the US dollar and the yuan from 1949 to 2014 made by Goldman Sachs Huaguo in 2014.

From 49 to 80 years, the exchange rate generally fluctuated between 1.5 and 2, which is similar to Yin Jun's actual experience.

According to its above trend, in 1981, the exchange rate of the renminbi that could actually be exchanged in China was only slightly depreciated. It is 1:1.7.

However, such an exchange rate is completely contrary to the trend of international exchange rates.

Abroad, it takes 8.7 RMB to exchange for 1 USD.

In China, however, 1 US dollar can only be exchanged for 1.7 yuan, and the purchasing power has been greatly reduced.

To put it simply, foreigners who come to China are slaughtered, and they all spend high prices to buy things and services in China.

This matter originally seemed to have nothing to do with the Chinese people, at least it had nothing to do with the vast majority of the Chinese people.

Except for a very small number of people, who can have the money to exchange foreign exchange coupons for luxury goods?

But!

Chinese people can do without foreign exchange coupons, but they will gradually need dollars very urgently.

For example, in the 80s, when there was a boom in studying abroad, more than a million college students and public officials flew to the territory of the United States, the United Kingdom, Japan and other countries.

These people must be exchanging dollars and other currencies.

Since the U.S. dollar is already the world's common currency, no matter which country you go to, it is generally converted into U.S. dollars, and when you go to other countries, you can basically use it directly, or you can go there and then exchange it into the currency of the local country.

Even the registration fee for students to take the TOEFL must be in US dollars, which is difficult for too many poor students.

The sorrow in it will not be listed here.

In any case, this is enough to show that the population urgently needs the dollar.

As for the US dollar, until around 2005, before the announcement of the floating exchange rate of the RMB and US dollars, basically individuals could not exchange foreign currencies including the US dollar at will.

Even if you are an international student, you can only exchange a small amount of US dollars with the admission letter of the school, not to mention the standard exchange limit of 2,000 US dollars when you go abroad for private passports.

Throughout the 80s, if you needed US dollars, you could only exchange them for US dollars at the bank with foreign exchange vouchers in hand.

But as this comes and goes, the renminbi becomes worthless, and they have to buy foreign exchange coupons at a much higher price than the official exchange rate.

Okay.

Foreigners who buy foreign exchange coupons with US dollars and marks are severely slaughtered by the government, and now you use foreign exchange coupons to exchange for US dollars, but they are ruthlessly slaughtered by middlemen, that is, commonly known as scalpers.

Many people's life savings have shrunk a lot between such exchanges.

But there is no way, if there is demand, there will naturally be a market.

When you go abroad, everyone knows that it is very difficult, and it is always right to bring more money with you.

Even if the parents are not wealthy at home, they have to buy foreign exchange coupons at a high price to exchange for US dollars.

This urgent need is not only for scalpers, but also for foreigners.

What's more, even more profitable is the People's Bank of China, the only issuing bank of foreign exchange bills.

Because the more foreign exchange coupons people need, the more U.S. dollars they need to exchange for foreign exchange coupons, and whenever they convert U.S. dollars into foreign exchange coupons, then they have to take a big bite.

I don't know if it's going to be a bit of a tongue twister.

But as long as it is understood, foreign exchange coupons are an important means for banks to frantically accumulate foreign exchange reserves.

You say that the Chinese people are so smart, do you have any loopholes?

For example, why should I ask your bank to make such a profit, can't I trade directly with foreigners?

Foreigners can earn a little more if they directly exchange US dollars for RMB, but if we directly exchange RMB for US dollars, they can lose a little less, isn't that good?

Of course!

However, there is one point, foreigners must declare how much cash they bring with them when they come to China, and once they find out that they are concealing, they will be punished very severely.

Moreover, most foreigners are not accustomed to using cash, they do not have much cash on their bodies, if they want to use money, they generally go to the bank to withdraw as much as they want, many banks in China have business dealings with foreign banks, which is very convenient.

When they withdraw money, the bank naturally converts the dollar into a foreign exchange coupon and gives it to them.

In the process, they have no access to their dollars.

If it were 40 years from now, there would definitely be a sense of collapse of the "dog", but now it's like this, and you can only adapt to it if you don't like it.

Therefore, even the scalpers with great powers get more than US dollars, but foreign exchange coupons.

In this way, it is only the ordinary people who need dollars that increase the cost, and not others.

Scalpers have made a lot of money, and it was not until after 2006 that the RMB continued to appreciate, and the dollar exchange scalpers gradually disappeared at the door of major banks.

Yin Jun obviously doesn't like such a policy, on the contrary, he feels that he is putting the cart before the horse.

But at this stage, it seems that it is necessary to do so in order to seize every opportunity to develop.

Not only are the people poor and afraid, but even the country is also poor and afraid!!