Qianjiang Evening News·Hourly News Reporter Wu Chongyuan
According to the news released by the People's Bank of China: On March 21, the central price of the RMB against the US dollar was 6.3677, a depreciation of 252 basis points. The mid-price of the previous trading day was 6.3425, the onshore RMB closed at 6.3641 at 16:30, and the night trading was 6.3615.
RMB exchange rate fell back against the US dollar. What impact will the foreign trade companies and international students who have a demand for foreign exchange purchases have?
"Qianjiang Evening News·Hourly Financial Gang" member and senior manager of the International Department of Industrial and Commercial Bank of China Zhejiang Branch said in an interview with reporters that the exchange rate of the RMB against the US dollar has basically fluctuated in two-way directions since the beginning of this year. The RMB exchange rate has fallen in recent days, mainly due to factors such as tension in the geopolitical situation in Russia and Ukraine, US dollar interest rate hikes, and disturbances in the capital market.
"In the long run, my country's economic positive trend remains unchanged, and the RMB exchange rate will remain at a reasonable equilibrium position and fluctuate in both directions; in the short term, the US dollar interest rate hike has little impact on the RMB exchange rate, and changes in the epidemic are a factor that cannot be ignored that interferes with the exchange rate. If the advantages of the epidemic can be maintained, the RMB will most likely remain firm."
Wang Yin suggested that when signing import and export contracts, enterprises should lock in future foreign exchange rates through forward foreign exchange settlement and sale and other products to avoid exchange rate risks. As for studying abroad families, considering that the RMB and the US dollar have maintained a nearly 2% interest rate gap before, although the exchange rate of the US dollar against the RMB is close to a historical low, it is still recommended to handle foreign exchange settlement and sale from the perspective of actual needs.
"If you have a demand for overseas exchange or foreign exchange to use recently, it is indeed a good foreign exchange purchase point at present," said Wang Yin.
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Source: Qianjiang Evening News·Hourful News
