RMB Trading Against The Dollar, Chengdu Shoe Companies On Pins And Needles

RMB to us dollar in China Foreign Exchange Trading Center

Opened to 6.2380, once again hit the upper limit of the trading zone.

The central bank announced yesterday that the central parity of the US $1 against the RMB was 6.3010 yuan. According to the regulation, the fluctuation of the RMB against the US dollar was 1% above the middle price, that is to say, the price limit for yesterday's trading was 6.2380.

In October 25th, the yuan closed 6.2417 yuan against the US dollar, refreshed the highest closing point since the reform, and at the same time created the first trading limit for trading since 1%.

The exchange rate of RMB against the US dollar continues to rise, making Chengdu's shoe companies "on pins and needles".

Recently, the yuan reversed the trend of unilateral depreciation since the two quarter, and continued to rise against the US dollar.

Standard Chartered Bank's latest research report said: "in 2013, the RMB will appreciate moderately against the US dollar, and it is estimated that the exchange rate of RMB against the US dollar will rise from 6.31 at the end of 2012 to 6.19 at the end of 2013."

Standard Chartered Bank expects that the people's Bank of China will allow the US dollar to further lower against the yuan, in line with the US dollar's trend towards more Asian currencies.

According to the relevant person in charge of the International Business Department of Sichuan branch of a state-owned bank, "in the fourth quarter, the willingness of the Sichuan enterprises to settle their foreign exchange was enhanced by the expected impact of RMB appreciation.

In the past few months, people are still busy buying foreign exchange. "

Import and export enterprises will be affected by exchange rate, but in Chengdu

The boss is probably one of the most sensitive people to the exchange rate.

Yesterday, the general manager of Sichuan west shoes city limited liability company.

After listening to the reporter's introduction of the latest exchange rate of RMB against the US dollar, the first sentence is "it seems that 6.3 can't keep up."

He told reporters that since the rise of the renminbi against the US dollar, Chengdu's shoe bosses have been actively trying to reduce exchange rate losses.

According to him, "at present, almost all the shoe factories in Chengdu have changed their way of doing business.

It used to be a US dollar offer, which was collected at the time of collection, and now it is quoted in Renminbi, which is the final settlement rate at the time of signing the prevailing exchange rate.

Peng Jun pointed out that at present, the international market is stagnant, and the appreciation of RMB has certain effect on the shoe factory orders.

Liu Dejian, chairman of Chengdu new proud footwear industry, told reporters: "the continued decline in the purchasing power of the US dollar will definitely lead to a big reshuffle of Chengdu footwear industry."

He said that in the first two years of about 10 dollars, merchants could buy a pair of women's leather shoes with medium size and medium size in western shoes.

Up to now, shoes of the same quality can be made at least 15 dollars.

That is to say, in the past, we could carry 10 pairs of medium women's shoes in the west shoes for $100, but now we can only get 6.7 pairs, which is equivalent to 33% of purchasing power.

What will be the impact of the decline in purchasing power of customers? Liu Dejian said, first, the price is becoming more and more expensive, leading to foreign orders to India, Vietnam and Thailand; second, Chengdu shoe enterprises no longer have low price advantage will definitely be pushed to the higher end, while some small factories are obviously unable to eat, leading to a big reshuffle of Chengdu shoe enterprises.