The cost of the Teddy bear in the Yuan is 57.47 Yuan.
What is an exchange rate?
An exchange rate is the rate at which the currency of one country can be exchanged for the currency of another. It represents the value of one currency in terms of another and is a crucial indicator in international trade and finance. Exchange rates fluctuate based on various factors, including economic conditions, interest rates, inflation, and geopolitical events.
Let us take up the teddy bear and we would convert the cost to the Chinese Yuan.
$1 = 6.46561 Yuan
$8.89 = $8.89 * 6.46561 Yuan/ $1
= 57.47 Yuan