The RMB exchange rate against the US dollar "broke 7"

2023-04-27 10:08:58

The onshore RMB exchange rate broke 7 to the dollar on September 16 year 2022 . Since the beginning of this year, the RMB exchange rate against the US dollar has risen from 6.3 at the beginning of the year to 7.0 now, which fully reflects the increasing uncertainties in the international economic situation, and the RMB exchange rate has become more flexible. What impact will the depreciation of RMB bring to foreign trade export? The depreciation of RMB is beneficial to relieve the economic pressure and boost the export economy. Our country is export-oriented economy and the foreign exportation occupies an important position in our economy. In recent 3 years, under the influence of the epidemic and the rising sea freight, the foreign trade export began to show negative growth. People's depreciation can promote export to earn foreign exchange, relieve the downward pressure of our economy. RMB depreciation can optimize the structure of export products for the opportunity. The depreciation of RMB reduces the cost of export products and increases the export volume of products. The continuous appreciation of RMB in recent years has brought great pressure to Chinese export enterprises, and the depreciation of RMB can give Chinese enterprises a breathing space, take this opportunity to optimize the structure of export products, develop new products with high efficiency, low pollution and high-tech content, and improve the ability to cope with exchange rate risks. The depreciation of RMB against the US dollar is relatively beneficial to the current materials exported by Shenyuan. In addition to enhancing the price competitive advantage of the company's products, the conversion of the product income denominated in US dollars into RMB also increases the company's profits. However, the fluctuation of the uncertain factors of exchange rate fluctuation is too large and mostly belongs to short-term phenomenon; Therefore, in order to increase the profits of enterprises, in the final analysis, it is still necessary to rely on the overall benefit management of enterprises, improve product quality and optimize the process reform to enhance the market competitiveness.