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RMB Continues To Appreciate &Nbsp; Foreign Trade Shoe Enterprises Receive Short Orders And Reduce Losses.

2010/11/12 10:07:00 32

November 12th hearing the future

RMB

The middle price of the US dollar is likely to rise, "experts say. Because many people predict that the central bank may continue to raise interest rates this year, the central parity of the RMB against the US dollar may continue to rise under the premise that the rate hike is expected to be strengthened.

Yesterday, the central parity of RMB against the US dollar was 6.6242, an increase of 208 basis points from the previous day, not only setting a new high since 2005, but also the biggest daily gain since the reform.

At the end of September, the yuan broke 6.7 against the US dollar. After more than a month, the central parity of RMB against the US dollar has approached the 6.62 pass.

Influenced by exchange rate fluctuations, a number of foreign trade enterprises in Sichuan have indicated that this year's rising RMB exchange rate has made the profits of the enterprises thin. Therefore, they have to take short form and sign contracts with fixed exchange rate to make less losses.

Foreign trade shoe enterprises take short and avoid losses

RMB to us dollar intermediate price rises one day

208 basis points for some Sichuan

foreign trade

The head of the enterprise is very headache. Chengdu

footwear industry

Chen Changguo, the boss, was very helpless. He said that if the appreciation of the renminbi increased by one percentage point, the profits of shoes enterprises would drop by one percentage point.

Recently, the renminbi has appreciated again and again, and the company has avoided taking the long list as far as possible.

"Now we basically take orders within 3 months," Chen Changguo said. Or, when signing a contract, we first determine the exchange rate of RMB against the US dollar in order to avoid more exchange losses.

Chen Changguo disclosed that now the company is talking with some clients, hoping to use RMB settlement.

Mr Wu Deguo, general manager of the company, said that the recent appreciation of the renminbi has also had an impact on the company. "Profits have thinned," said Mr Lee. However, because the company has always been single, it can only predict the central parity of the RMB against the US dollar, and then sign the contract with the foregoing confirmation to avoid some exchange losses.