China is implementing a "trinity reform package" consisting of a shift of the yuan to a floating exchange rate system, the liberalization of interest rates, and the liberalization of capital ...

An exchange rate is the price of one currency expressed in another. If you see GBP/EUR = 1.1700, it means £1 buys €1.17. Flip the pair and you get EUR/GBP, which tells you how many pounds one euro ...