General

On October 11, the spot exchange rate of the RMB against the US dollar continued to fall to the bottom after opening, once falling below 7.19. This is a record low for the exchange rate fluctuation of the RMB against the US dollar in the past 15 years. So where did the money go?

The stock market fell sharply, capital left the market, gold entered a bear market, Bitcoin also fell sharply, the property market did not move, consumption did not rise with the bank deposit and interest rate cut. Where did the money go? The United States has raised interest rates five times in a row this year, and violent interest rate hikes have caused the American market to shake. What impact does the fluctuation of the exchange rate of RMB against the US dollar have on the international trade industry?

For export-oriented and labor-intensive international trade enterprises, they are in adversity, which increases the foreign currency price of export commodities, weakens the competitiveness of the international trade market, and reduces the export volume and profits; The expenses of international trade enterprises with foreign currency monetary assets increased, and financial expenses increased, reducing the net profits of international trade enterprises in the current quarter; Increased foreign exchange settlement losses of foreign exchange receivables. Some orders have not yet received payment for goods. Now the appreciation of RMB is equivalent to a lot less money. On the contrary, foreign enterprises with foreign debts will have less pressure and the profits of imported enterprises will be slightly higher.

So move quickly, stop waiting and do a good job of coping. Reduce losses. Those who owe foreign debts should act quickly to get better off while the pressure is lower now! Welcome the big sprint at the end of the year, accumulate customers and pass this compression period. Sellers of imported goods seize the opportunity, recommend using some customer acquisition software, increase the number of customers, and make a big profit at this stage!