The Exchange Rate Of RMB Against The US Dollar Is Approaching 6.2，how To Avoid Risks For Foreign Trade Enterprises

The exchange rate of RMB against the US dollar is approaching 6.2，how  to avoid risks for foreign trade enterprises?

As the RMB exchange rate rose to the highest level since April 2018 and once approached the 6.3 integer mark, many small and micro foreign trade enterprises are once again facing new exchange risks.

In this regard, the bank has also taken a number of measures, such as cooperating with local government departments to provide special guarantees, increasing the hedging credit line of small and micro foreign trade enterprises, and virtually reducing their foreign exchange hedging operation costs; In addition, they also explained many benefits of foreign exchange hedging to enterprises, especially when the black swan incident suddenly comes, foreign exchange hedging can help enterprises avoid many unknown risks.

In contrast, large foreign trade enterprises are relatively calm in the face of this round of RMB exchange rate rise. The chief financial officer of a large foreign trade enterprise said that through a series of foreign exchange hedging operations such as forward foreign exchange swap transactions, the exchange rate of foreign exchange settlement of enterprises this year is set between 6.4-6.5.

Under the background of the continuous appreciation of RMB exchange rate, commercial cooling exports are facing new opportunities and challenges.