A.   B.    C.     D.

E.      F.      G.     H.

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Students were school yesterday.

    Renminbi is on the rise

    Ye Li plans to study abroad after she finishes high school in summer. It will cost her parents a large sum of money. But as the value of the Chinese yuan has been rising in the last few months, the girl is happy to find she will need much less money.

    One US dollar used to buy 8.28 yuan Renminbi(RMB) in 2004. But by last Tuesday the number had fallen to 6.77. That means Ye's tuition fee(学费) at $ 20, 000 will cost her 30200 yuan less.

    What are exchange rates?

    The amount of RMB that one dollar can buy is called the exchange rate(汇率) between the RMB and US dollar. There are exchange rates between most countries. They show the rate at which one currency(货币) can be exchanged for another.

    The rates are decided by the different prices of the same product in countries. These change every day. A currency will become more expensive when demand(需求) for it is greater. As more and more countries have begun to trade(做贸易) with China in recent years, the RMB is in great demand, which has made its value go up.

    The other side of the coin

    A more expensive RMB is good for people like Ye. Chinese people can get more foreign currencies while exchanging with their money. They can buy more imported food, clothes, and cars. It also makes it cheaper to travel abroad.

    But it is not good for Chinese exporters(出口商) , like clothing sellers. A S1 export will bring in less yuan.

    What's more, Chinese clothing sells well abroad because of its low prices. Now a made-in-China T-shirt will cost foreigners more. There may be fewer foreigners who will buy Chinese products.