Rules of the Evolution of International Exchange Regime in 20th Century and the Reform of RMB Exchange Regime

International exchange regime,in effect,experiences a circle, namely,from fixed exchange regime to floating exchange regime,which is in a process of self-negation and spiral growth.It also shows that international exchange regime is a dynamic system of mutual change and no single currency regime is right for all countries or at all times.There exists only a choice made by chance that especially deserves using for reference by our country during the reform of RMB exchange regime at this stage.