The RMB Exchange Rate Rose To 4 &Nbsp Against The US Dollar; Ningxia's Foreign Trade Enterprises Were Mixed.

Affected by the weakening US dollar, RMB The exchange rate against the US dollar has risen 4 days to a new high in 17 years. According to the latest data of China foreign exchange trading center in September 15th, the central parity of RMB against the US dollar is 6.7250 yuan. According to the exchange rate of 8.11, the appreciation of RMB has reached 17.08% since the reform. Our banking industry believes that the impact of RMB appreciation on individuals is mainly to reduce the number of Chinese people overseas. Shopping The cost of studying and traveling is more direct to our foreign trade enterprises.

For the yuan to the dollar exchange rate of innovation is high, Ningxia natural bee products Technical Developing Company relevant person in charge told reporters that they Exit The bee products in all countries are settled in US dollars, with an average of about 400 thousand dollars per month. This year, the responsible person of the import and export company of alumina group, which imports more than 200 million dollars in alumina, said that the appreciation of RMB is more advantageous than the import business. If the central parity of RMB against the US dollar keeps its current position, it can save millions of dollars according to the amount of imports before it, which will undoubtedly help enterprises to reduce costs and improve efficiency. Foreign trade insiders also believe that the RMB appreciation will help our enterprises to introduce advanced technology and equipment from abroad, such as the acquisition of Duncan cotton mill by the Limited by Share Ltd of Ningxia cashmere industry, and the acquisition of 200 years old nursery stock by Ningxia loyi International Agricultural Development Co., Ltd., and more participation in overseas mergers and acquisitions.

Wang Dongchu, a financial planner of Ningxia branch of China Construction Bank, suggests that foreign trade enterprises in our region can lock in the exchange rate through foreign exchange hedging or forward settlement, so as to avoid the risk of foreign exchange fluctuation and avoid disadvantages. For individuals, current exchange rate fluctuations can reduce the cost of traveling abroad, studying abroad, and shopping, such as using dual currency card consumption of UnionPay while shopping overseas.