what makes every foreign trader most concerned and worried is the real-time change of exchange rate
recently, the people's Bank of China authorized the China foreign exchange trading center to announce that on November 17, 2020, the central parity rate of RMB in the inter-bank foreign exchange market was: 1 US dollar to RMB 6.5762, an increase of 286 basis points over the previous trading day, reaching the era of 6.5 yuan.
although in the long run, the appreciation of RMB is due to the optimism of China's economy, which is a good situation, in the short term, it does pose greater challenges to textile foreign trade enterprises.
take a textile foreign trade order of US $100000 as an example. When the exchange rate is 7.1, the settlement of foreign exchange can reach 710000 yuan, while when the exchange rate becomes 6.54, the settlement of foreign exchange becomes 654000 yuan, and the difference between them reaches 56000 yuan.
you should know that under the condition of the continuous expansion of the floating range of RMB exchange rate and the sluggish foreign demand, the profit space of enterprises will be compressed.assuming that the RMB appreciates by 5% a year, according to the export volume of US $5 billion of China's textile industry, domestic enterprises will lose us $250 million a year.
moreover, the textile industry has paid close attention to environmental protection in recent years. It can be said that it is not easy to promote the road of environmental protection, there is not much domestic demand, and the international situation is unclear. People in textile foreign trade feel bitter and don't say it, but shout" why! "
<span class="bjh-p> foreign trade is difficult to do. This year is already a difficult year. Why does the exchange rate rise so that people can't live!"
through an interview with a textile foreign trade boss, he told us that foreigners are becoming more and more shrewd.
at present, China's textile production capacity is surplus as a whole, so overseas buyers take the initiative in foreign trade negotiations.
when the RMB depreciates, as soon as the exchange rate fluctuates, he asks to change the purchase price, but as soon as the exchange rate rises, there is no hurry to adjust the price. Anyway, the textile enterprises are always injured.
in order to avoid such risks, we are required to write the risk of exchange rate fluctuations into the contract and share it with the customer when signing the contract.
when facing cross-border settlement, it is better to choose the bank account recorded in the original currency rather than other third-party accounts such as Alipay.
when choosing, it is best to choose the European Central Bank digital banking license, so that we can flexibly dispose of our overseas funds and avoid 2% - 4% foreign exchange loss during foreign exchange settlement.
however, as mentioned before, although it will reduce the profits of the textile industry, increase the risk of signing export contracts and slow down China's economic growth in the short term, it will also bring us some benefits.
for example, it is conducive to the structural adjustment of the textile industry, prevent vicious competition between textiles, reduce trade frictions and improve the trade environment.
in a word, there are always good and bad things. We all know that textile foreign trade is particularly difficult this year, but even so, we, as excellent workers, will not be easily knocked down.come on! I believe I can make it. The environment of textile foreign trade must be getting better and better!