The US Dollar Is Strengthening Again, And Sichuan Shoe Enterprises Are Taking Measures To Avoid Risks.

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The dollar is strengthening again.

Yesterday, the US dollar reported 6.3205 against the central parity of RMB, compared with a 6.2670 high of 2 in May. In the past 10 trading days, the central parity of RMB has fallen by 535 basis points.

Facing the aggravation of the RMB exchange rate fluctuations, some Sichuan import and export enterprises have adopted the "lock in exchange rate" or "RMB settlement" to avoid the risk of exchange rate fluctuations.

RMB exchange rate volatility increased

Yesterday, the people's Bank of China authorized the China foreign exchange trading center to announce that the US dollar was 6.3205 against the central parity of RMB, which was 95 basis points lower than the previous trading day.

Xiao Lei, an observer for Tianyi gold exchange market, believes that the recent devaluation of the RMB against the US dollar is related to the decline in global consumer demand and the expected poor export data in China.

"At present, the fermentation of European debt will continue to push up the US dollar index in the external environment."

Xiao Lei predicted that the RMB exchange rate against the US dollar may fall to the 6.34 barrier in the near future.

Since April 14th this year, the people's Bank of China announced that the floating rate of RMB to us dollar exchange rate in interbank spot foreign exchange market expanded from 5 per day to 1%, and the fluctuation of RMB against the US dollar in the past 2 months has increased significantly.

As of yesterday, the central parity of RMB against the US dollar has fallen by 535 basis points in the past 10 trading days.

Enterprises lock in the exchange rate.

The volatility of RMB exchange rate has increased significantly in the past 2 months, adding new variables to export enterprises.

"The fluctuation of RMB exchange rate has little effect on enterprises in the short term, but if we maintain unilateral appreciation or depreciation, the impact will become apparent."

This year, many Sichuan enterprises are avoiding exchange rate risk by locking the exchange rate and RMB settlement, said the head of a Chengdu shoe export enterprise.