Exchange Rate Falls For Six Consecutive Days. Import And Export Enterprises Need To Manage Risks.

< p > > a href= "//www.sjfzxm.com/news/index_c.asp" > RMB < /a > the spot exchange rate fell again yesterday, closing price dropped to 6.2536, a low of nearly 16 months since December 2012.

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< p > but contrary to it, the RMB < a href= "//www.sjfzxm.com/news/index_c.asp" > the middle price < /a > has gone against the market for three times.

Experts said that the fall in the spot exchange rate of the renminbi does not mean the depreciation of the renminbi itself, but it will still have an impact on import and export trade and enterprises.

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Since the beginning of this year, the RMB exchange rate has continued to depreciate due to the superposition of multiple factors such as the Fed's quantitative easing policy and China's economic structural adjustment and slow growth rate. P

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< p > but contrary to it, the central parity of RMB against the US dollar has gone against the market for three times.

Cao Yuanzheng, chief economist of Bank of China, believes that the recent fall in the spot exchange rate of the renminbi is only the exchange rate fluctuation, which does not mean the depreciation of the renminbi itself.

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< p > Cao Yuanzheng: at present, < a href= "//www.sjfzxm.com/news/index_c.asp" > China's labor production < /a > has been improving, and the RMB has not depreciated.

The current situation can only be said to be relative price changes.

We can not see the change of the depreciation of the renminbi itself.

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If the spot exchange rate of P > RMB falls or rises, it is still necessary for China's import and export trade enterprises to take the risk of exchange rate fluctuation and manage it.

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< p > Cao Yuanzheng: the fluctuation increases, the fluctuation of up and down 2% means that there are 1 gross and 2 cent fluctuations.

In this way, for import and export enterprises or enterprises with more foreign economic relations, it means volatility risk should be managed.

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"P" for ordinary people, now that the exchange rate falls, do you need to change some dollars now? Cao Yuanzheng thinks there is no need at the moment.

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< p > Cao Yuanzheng: we do not think this is necessary.

At present, one-year RMB deposits are around 3.5%.

Unless the renminbi depreciated more than 3% against the dollar, then it would be reasonable to buy dollars.

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< p > related links: < /p >

< p > the latest data released by the State Administration of foreign exchange showed that China's balance of payments continued to show a "double surplus" pattern in the first quarter.

It is widely expected that China's balance of payments will be more balanced in the two quarter. The exchange rate reform and exchange rate expectations will ease the pressure of capital inflow in the two quarter.

Guan Tao said that cross-border capital flows are experiencing positive changes, and the future two-way oscillation will be normal, which is conducive to the balance of foreign exchange supply and demand, and to improve macroeconomic regulation and control.

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< p > since February, market signals mixed with regulators' ambiguous attitude toward exchange rate issues, the willingness of enterprises to buy foreign exchange to avoid risks is gradually becoming stronger, breaking the unilateral appreciation expectation of RMB.

Overall, the market's interest in Renminbi assets has decreased.

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Fu Peng, chief macroeconomic adviser of Galaxy Futures Research Center, told reporters that the monetary authority may prefer that the RMB can be stabilized at the current level of two-way fluctuations, rather than the formation of unilateral depreciation expectations, so the depreciation of the RMB has little room for P.

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