The RMB Has Finally Depreciated, And Clothing And Footwear Export Enterprises Have A Slight Pressure.

< p > strong > RMB one month < a href= "//www.sjfzxm.com/news/index_c.asp" > depreciation > /a > 0.7% < /strong > /p >

< p > recently, the RMB has changed the unilateral appreciation route which the market expected before, turning down and downwards all the way.

Yesterday, the people's Bank of China authorized the China foreign exchange trading center to announce that in February 20th, the interbank foreign exchange market's central parity of RMB against the US dollar was 6.1146, which was 43 basis points lower than the previous day, setting the lowest price this year.

In fact, since January 14th, when the yuan hit a new high of 6.093 against the US dollar, it had a moderate callback. The recent depreciation has accelerated. This week is the three consecutive trading day devaluation and the depreciation of 93 basis points.

After the yuan hit a new high against the US dollar from 14 in January, it has depreciated by 0.355% as of yesterday.

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Compared with the middle price, the RMB spot exchange rate depreciated faster than P.

The day before yesterday, in the absence of any omen, the RMB exchange rate against the US dollar began to depreciate by nearly 100 basis points in half an hour, closing at 6.0764. Yesterday, the opening rate of the RMB against the US dollar was higher than that of the US dollar, opening at 6.0826, ending at 6.0834 and depreciating by 70 basis points.

The spot exchange rate of RMB dropped slightly after reaching a high of 6.0406 in January 14th. As of yesterday's close, it had depreciated by 428 basis points and depreciated by 0.709%.

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< p > strong > RMB is difficult to continue to appreciate significantly less than /strong > /p >

< p > RMB has been declining for a long time, which has nothing to do with the two-way floating elasticity of the central bank's enhanced exchange rate.

On the 19 day, the central bank said that it is necessary to gradually improve the RMB exchange rate formation mechanism and expand the floating range of exchange rate in an orderly way.

This is the second time since February that the central bank made the above statement publicly.

In early February, the central bank said in the fourth quarter of 2013 China monetary policy implementation report that we should further improve the RMB exchange rate formation mechanism, increase the market supply and demand to decide the exchange rate, and enhance the two-way floating elasticity of exchange rate.

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< p > all indications indicate that in the year of reform in 2014, pushing forward the marketization of exchange rate and increasing the market supply and demand to decide the exchange rate have become one of the central banks' priorities.

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At the same time, the withdrawal of QE from the us directly led to the rise of the US dollar, causing the fluctuation of currency exchange rate in the countries concerned, especially in the emerging markets, P.

This brings certain devaluation expectations to the RMB exchange rate, and thus forms a two-way fluctuation.

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Lian Ping, chief economist at P, thinks that from the long-term fundamentals, in 2014, under the backdrop of China's foreign trade surplus imbalance pressure and the Fed's QE shrinking monthly, it is difficult for the RMB to continue to appreciate significantly.

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< p > Xiao Senlin, chairman of Dongguan hone generation toys, feels that "depreciation of the RMB is only a short-term behavior. In the long run, there is still appreciation expectation."

However, from the perspective of all aspects of the game, it is more reasonable for the RMB to move smoothly in the future.

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< p > < strong > Guan enterprises or reducing long-term settlement. < /strong > < /p >

< p > before, the cost of raw materials and labor continued to rise, and the RMB has been rising for a long time. It has become the three major mountains of export oriented enterprises. Now the depreciation of the renminbi has eased the pressure of export enterprises slightly.

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"P > > Houjie" a target= "_blank" href= "//www.sjfzxm.com/" > shoes < /a > enterprises, and products are mainly exported by foreign exchange. Liao, the person in charge, said frankly, "the devaluation of the RMB may alleviate pressure to some extent, but it is not so fast now."

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Less than P, the product of HgI is not only exported but also imported and exported last year, which is more sensitive to the change of RMB.

Xiao Senlin, chairman of the Kazakhstan, also said: "< a href=" //www.sjfzxm.com/news/index_c.asp > RMB > /a > the callback to the US dollar will not last. This short-term fluctuation is used to enterprises.

At present, it is not the right time for enterprises to react.

But if the RMB continues to depreciate to a certain extent, such as 3%, that will be a great benefit to the enterprises. If our products are exported to foreign countries, the overall price will decrease, and the price advantage will be formed, and the competitiveness of the products will be enhanced, and the profit margins will also rise.

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< p > in the past, in the case of unilateral appreciation of RMB, export enterprises often used financial instruments to lock forward exchange rate and reduce losses caused by appreciation.

Mr. Liao told reporters, "if the depreciation of the RMB continues for some time, the exporters do not have to lock in the forward exchange rate. They only need to follow the latest exchange rate.

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