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About Us
RMB middle price is the lowest in five years, import and export tight enterprise warning
On July 5, the central parity rate of RMB against the US dollar was lowered by 122 basis points to 6.6594, the lowest since December 2010. On the same day, the onshore spot price of RMB (CNY) closed down 59 points to 6.6695, which was a low of 6.6710 within the day, refreshing the position of more than 5.5 years. Yesterday (July 6), the central quotation of RMB / US dollar exchange rate was 6.6857, devalued 263 points, continued to set a new low in nearly six years, nearly 400 points in two days. Yesterday, the spot market in the offshore RMB exchange rate were slightly devalued. Under the condition of continuous devaluation of RMB, has the enterprise people been affected? Fastener enterprises, especially import and export fastener enterprises are headache?
If the renminbi continues to depreciate, so will the yuan denominated housing. In this case, it will affect the real estate market, thus affecting the property price. For import and export enterprises, including fastener enterprises, will be greatly affected. For import enterprises, the depreciation of RMB will increase the cost of their products import; for export, or will be conducive to export, the exchange rate risk of different settlement currencies is different. Foreign trade enterprises can reduce the risk caused by exchange rate fluctuations through forward settlement and sales of foreign exchange, foreign exchange swap, foreign exchange options and other foreign exchange derivatives. At the same time, it brings uncertainty.
The relative stability of RMB is very important for both national life and economic development of enterprises. It is hoped that the RMB exchange rate fluctuation can return to stability as soon as possible. It is hoped that fastener enterprises can avoid risks correctly.
The company is committed to providing high-quality riveting and fastening products and one-stop riveting and fastening system solutions for customers.
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