The Appreciation Of The Renminbi Has Eaten The Profits Of Exporters.

After hitting the daily limit for 10 consecutive days, November 12th

The median price has reached the highest point in six months.

According to statistics, the RMB exchange rate against the US dollar has risen by about 2.6% since the recovery of the renminbi in July 26th, especially since September, and has appreciated by about 2%.

"The foreign trade situation is not optimistic, the RMB has appreciated frequently, and the confidence of enterprises has dropped sharply."

A few days ago, reporters were visiting.

In the foreign trade enterprise, many business operators "vomit water".

Appreciation of the exchange rate "eat" the profits of exporters

1 months ago, the exchange rate of RMB against the US dollar was about 6.3, but by November 12th it was 6.216.

"The renminbi has appreciated by 1.5% against the US dollar, and our confidence in receiving foreign orders has been battered."

For Yan Liangmin, general manager of zhe Hao Textile Co., Ltd., who has just participated in the "Canton Fair", the RMB has appreciated frequently, and it has not been able to raise the strength of the foreign trade orders. "Shaoxing

For 10 consecutive days, the exchange rate of RMB against the US dollar has been limited by many foreign trade enterprises.

The appreciation of the renminbi has a great impact on industries which are mainly export oriented and high in foreign currency assets, especially textiles.

Industries with low added value and low profits are most vulnerable to the appreciation of the renminbi.

Generally speaking, foreign trade fabrics

The average gross profit of the order is around 3%-5%. With the reduction of foreign trade demand, the bidding is fierce and the price is reduced. Therefore, many textile enterprises have even lost 3% of gross profit, almost unprofitable.

Forward settlement is once again popular.

"Fortunately, I was able to handle long-term settlement in half a month ago, when the lock rate was 6.37, and now the exchange rate offered by banks is down to 6.36."

Mr. Wang, a textile export operator in Keqiao, told reporters that the choice of forward settlement allows companies to reduce exchange rate risk, which can at least make up about 1.5% of the current settlement rate.

Reporters from the Bank of China, the industrial and Commercial Bank of China and other financial institutions learned that, with the recent return of RMB appreciation channel, especially the exchange rate of RMB against the US dollar, the export enterprises once again generated interest in conducting long-term settlement business.

"In anticipating that the RMB will continue to appreciate, it is generally agreed that the forward exchange rate should be locked in advance to avoid the risk of exchange rate fluctuations.

After signing a contract, many enterprises will immediately go to the bank to handle the long-term settlement business in order to lock in the settlement price.

Introduction to relevant persons in financial institutions.

Companies are smart enough to avoid exchange rate risk.

Long term settlement, though it can reduce the exchange rate risk under the current appreciation trend, however, 1% of the annual margin makes many export enterprises "unable to love".

To this end, how to avoid exchange rate risk and minimize the loss of enterprises? Many foreign trade enterprises in our county actively choose the risk aversion for their own development.

Li Huaqiang is a family in my county.

Treasurer, he has a new way of avoiding the risk of the dollar settlement in advance.

According to the introduction, the settlement is actually the company's advance loan to the bank for a certain amount of US dollars, and it is expected to repay the company's foreign trade funds after receipt.

The interest rate of US dollar loan is low, and the loan amount and time limit are flexible and simple.

"The general corporate foreign exchange receivables cycle is the first quarter. Therefore, the interest rate will be around 0.3% during the quarterly period.

This allows companies to reduce at least half of the financial cost of avoiding exchange rate risk. "

Li Huaqiang said that not all enterprises can adopt this method, and enterprises must have higher credibility.

At the same time, with the push and maturity of RMB settlement in cross-border trade, the export enterprises in our county have actively strived for RMB as settlement currency for financial convenience and circumvention of foreign exchange risk.