when 物价降低 means domestic currency has more purchase power (the same amt money you can get more goods), therefore domestic appreciate.  However, as the goods price decrease which makes "import" cheaper for foreign countries therefore foreign countries will import more that leads domestic goods export more.  As domestic goods cheaper, the domestic currency depreciate.

Sorry I have not installed Chinese tool yet... have to write in English. And hope what I wrote make sense to you.

这就是我国现在的反情况啊。

现在国内物价飞涨，国家为控制通货膨胀，中央银行规定不断提高法定准备金来降低货币流通性，

提高利率导致大量外汇进入本国，导致人民币升值。

增加了外国进口商的成本，出口减少。


物价---利率-----汇率-----出口，这样一个顺序分析，考虑就简单了。

我觉得可以从两方面解释一是从定义上  直接汇率有个公式=p外/p内  当本国物价水平降低时 汇率自然提高  另一方面从现实来讲  当本国物价水平降低时 以人民币计价的资产价值降低 因此资金自然会转向价值更高的外国资产 从而大量资本流出汇率升高