Watched by the dollar, the euro, the Hong Kong dollar, etc. in a series of devaluations in a matter of days, the hand still holds nearly 100,000 US dollars in Guangzhou Zheng Zheng ** look silly. "I lost a few thousand dollars in a few days. I will exchange it tomorrow!"
On August 11th, the People's Bank of China authorized the China**** Center to announce the middle exchange rate of the *** exchange rate, in which the central parity of the *** against the U.S. dollar was again significantly raised by 176 basis points from the previous day to 6.3991 yuan, a new high since the exchange reform. At the same time, it created the largest one-day increase. In the previous trading day, the exchange rate of *** against the US dollar was reported at 6.4167.
The market is happy and worried. *** The sharp appreciation, the first negative impact is the impact on foreign trade companies.
Some experts said that the pace of accelerated appreciation is not sustainable, and most market institutions still maintain their forecast of a 5% to 6% appreciation of the US dollar during the year. Anbang Consulting Researcher expects that the impact of faster renminbi appreciation on exports will gradually emerge in the second half of the year.
Cai Gaosheng, chairman of Guangdong Silk Group, said that the previous few days, the *** was still about 6.43 against the US dollar, and today it has broken 6.4. “Before foreign trade companies did not dare to take orders, it has been a common phenomenon. The appreciation of the *** has continued to expand and most small and medium-sized foreign trade companies will be greatly affected.â€
However, Cai Gaosheng also stated that, in fact, foreign trade companies have already had some psychological preparations for the appreciation trend of the renminbi, and they have taken measures such as early settlement of exchanges to avoid risks. "Now that the government must change the mode of economic growth, a large number of small and medium-sized enterprises must face the survival of the fittest. Enterprises can only increase their added value through transformation and upgrading, and shift from the foreign market to open up the domestic market and improve their competitiveness."
Chen Xuebin, executive vice president of the Fudan University Institute of Finance, said that the flexibility of the exchange rate should be increased. With reference to a basket of currencies, taking into account the trend of other non-US currencies, it will rise or fall against the US dollar. "Now the pattern for the dollar to rise only is not sustainable. Once the external market economy in the United States stabilizes, the phased appreciation of the dollar may come to an end."
On August 11th, the People's Bank of China authorized the China**** Center to announce the middle exchange rate of the *** exchange rate, in which the central parity of the *** against the U.S. dollar was again significantly raised by 176 basis points from the previous day to 6.3991 yuan, a new high since the exchange reform. At the same time, it created the largest one-day increase. In the previous trading day, the exchange rate of *** against the US dollar was reported at 6.4167.
The market is happy and worried. *** The sharp appreciation, the first negative impact is the impact on foreign trade companies.
Some experts said that the pace of accelerated appreciation is not sustainable, and most market institutions still maintain their forecast of a 5% to 6% appreciation of the US dollar during the year. Anbang Consulting Researcher expects that the impact of faster renminbi appreciation on exports will gradually emerge in the second half of the year.
Cai Gaosheng, chairman of Guangdong Silk Group, said that the previous few days, the *** was still about 6.43 against the US dollar, and today it has broken 6.4. “Before foreign trade companies did not dare to take orders, it has been a common phenomenon. The appreciation of the *** has continued to expand and most small and medium-sized foreign trade companies will be greatly affected.â€
However, Cai Gaosheng also stated that, in fact, foreign trade companies have already had some psychological preparations for the appreciation trend of the renminbi, and they have taken measures such as early settlement of exchanges to avoid risks. "Now that the government must change the mode of economic growth, a large number of small and medium-sized enterprises must face the survival of the fittest. Enterprises can only increase their added value through transformation and upgrading, and shift from the foreign market to open up the domestic market and improve their competitiveness."
Chen Xuebin, executive vice president of the Fudan University Institute of Finance, said that the flexibility of the exchange rate should be increased. With reference to a basket of currencies, taking into account the trend of other non-US currencies, it will rise or fall against the US dollar. "Now the pattern for the dollar to rise only is not sustainable. Once the external market economy in the United States stabilizes, the phased appreciation of the dollar may come to an end."
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