Analysis on dynamic relationship between credit restriction and exchange rate policy change

To some extent, modern market economy is an economy based on various kinds of credit relationships, therefore, it is of great practical significance to investigate working mechanism of credit channels. With China´s accession into WTO, changing tendency of exchange rate policy has witnessed increasingly great effect on the trend of micro-economy. Therefore, understanding and seeking interactive mechanism between credit mechanism and exchange rate change can facilitate smooth progress of reform and opening-up of our country. Upon analysis, the author holds that in the new era, it is imperative to, on basis of actual economic development situation, integrate credit channels to effectively implement monetary policies and exchange rate policies. Only in this way can our economy be developed in a healthy, stable and sustained manner.