Just today, on October 11, the spot exchange rate of RMB against US dollar continued to bottom after opening, falling below 7.19 for a time. This is the historical low for the exchange rate fluctuations of Renming currency against the US dollar in 15 years. So where did the money go?
The stock market fell sharply and funds left the market, gold entered a bear market, Bitcoin also plummeted, the real estate market was not moving, and consumption did not rise up with bank deposits and interest rates. Where did the money go? The United States has raised interest rates for for five consecutive times this year, and violent interest rate hikes have caused the US market to be in turmoil. So what impact will the exchange rate fluctuations of the name currency against the US dollar have on the foreign trade industry?
For export-oriented, labor-intensive foreign trade enterprises are in adversity, which increases the foreign currency price of exported commodities, weakens market competitiveness, and reduces export quantity and profits; increases the expenses for foreign trade enterprises that own foreign currency monetary assets , increases financial expenses, and reduces the net profit of enterprises in the quarter; increases the loss of foreign exchange receivables. Some orders have not received payment for the goods, and the money that people's name coins appreciate now is equivalent to a lot less. On the contrary, foreign-funded enterprises with foreign debt will be relatively less pressure, and imported enterprises will have slightly higher profits.
So move quickly, don’t wait and see anymore, and make good response measures. Reduce losses, those who owe foreign debts to take advantage of the less pressure now, act quickly and get moist! Welcoming the big sprint at the end of the year, accumulating customers, and passing this compression period. Sellers of imported products seize the opportunity and recommend using some customer acquisition software to increase the number of customers and make a big profit at this stage!
