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In the current financial crisis, U.S. financial institutions suffered losses so large amount of capital in financial markets plunged, triggering the flow of monetary aggregates decreased. When affected, the United States financial institutions, substantial reduction of foreign lending, further exacerbating the dollar's liquidity crunch. Therefore, before and after the financial crisis for some time, the dollar is obviously reduced the U.S. dollar increased. Since the third quarter, the dollar continued to depreciate this year, a change of posture, back into active revaluation channel, the yuan also will stop the rapid appreciation against the dollar this year's trend, in July against the U.S. dollar has been fluctuating around 6.83, the basic continuous in a stable situation. Third-quarter appreciation of the RMB against the U.S. dollar is only 0.7% lower than in the first half of the appreciation rate of 8 percentage points. After the exchange rate of RMB against the U.S. dollar into the stable state after rapid appreciation in the near term, for export enterprises is undoubtedly a positive message, in the continued appreciation of the heavy pressure through the export of the plight of more than six months later, finally able to exchange rate basically stable get a little relief in the space. Coupled with the export tax rebate rate from 8 months up to 3 percentage points, exporters delivered in August after the list of foreign exchange earnings should be higher than the expected increase. However, for the purchase of raw materials in international markets for companies, the dollar's rise is not an entirely good news. Although not significant appreciation of the yuan against the dollar, it would not substantially increase the cost of imports, the dollar exchange rate fluctuations of the dollar-denominated international bulk commodity prices fluctuations, the dollar started to rise since the third quarter, the Avayainternational crude oil prices in recent years The first substantial decline in the third quarter, nearly 20% decrease in the chain. Textile industry, petroleum products as raw materials of chemical fiber raw materials and product prices fell sharply, as the average price of domestic polyester PTA in the end of June was also underway at 9600 yuan / ton, to the end of September has fallen to 7200 yuan / ton, polyester Staple the average price also grew from the end of June of 11,900 yuan / ton in September dropped to about 10,000 yuan / ton, down more than 15%. Products, chemical fiber enterprises to significantly lower prices of products and raw materials inventory purchase orders suffered huge losses. Meanwhile, the Fiber price volatility for raw materials decreased sharply, triggering chemical fiber products on the stock panic, making the market turns lower prices there sales phenomenon, caused chaos in the competition. Judging from the trend of future development, the dollar appreciation of the current state is not sustainable. On the one hand, the U.S. government has launched a massive financial rescue plan, hundreds of billions of dollars are being phased into the financial markets, the dollar supply is constantly increasing. On the other hand, to cut interest rates to stimulate domestic consumption and investment growth Jiang is the United States in restoring essential to the process of economic regulation 手段. With the gradual implementation of a series of measures the dollar's liquidity will necessarily be restored value of the dollar will gradually lower than current levels, showing a depreciation of the state. In fact, early in this century the U.S. IT industry bubble burst Full slowdown in U.S. economic growth caused the stage, the dollar also showed a clear appreciation of the trend, as the U.S. economy gradually recovered, the dollar's depreciation of the situation and gradually apparent. Depreciation of the dollar will inevitably bring about the passive appreciation of the yuan, to appreciate China's textile industry for such an export-oriented industries are clear, weakening the price competitiveness of exports and foreign exchange losses caused in the process of revaluation is inevitable. At the same time, the stability of the dollar at this stage how to last long, depreciation of the dollar in what is expected when it will really happen is still very difficult to accurately assess. Thus, even in the current state of a stable exchange rate, export orders, export enterprises what the next step should be to offer to reduce the foreign exchange loss is still the problem will surely result in large companies to avoid access, long-lead orders, the actual on is to reduce the company's earnings. Imports of raw materials for enterprises is the same, because the lack of dollar exchange rate uncertainty, commodity prices are difficult to predict movements, loss of business to avoid the stock of raw materials side Zhineng-shopping for production, are bound to result in a lower level of business starts, fewer gains. In this financial crisis, U.S. financial institutions has enabled the financial markets suffered huge losses in the amount of capital sharply, triggering the flow of monetary aggregates decreased. Meanwhile, affected by U.S. financial institutions to lend substantial reduction in the external, further exacerbating the dollar's liquidity crunch. Therefore, before and after the financial crisis for some time, the dollar is obviously reduced the U.S. dollar increased. Since the third quarter, the dollar continued to depreciate this year, a change of posture, back into active appreciation of the channel, the yuan also will stop the rapid appreciation against the dollar this year's trend against the dollar since July has been fluctuating around 6.83, the basic continuous in a stable situation. Third-quarter appreciation of the RMB against the U.S. dollar is only 0.7% lower than in the first half of the appreciation rate of 8 percentage points. After the exchange rate of RMB against the U.S. dollar into the stable state after rapid appreciation in the near term, for export enterprises is undoubtedly a positive message, in the continued appreciation of the heavy pressure through the export of the plight of more than six months later, finally able to exchange rate basically stable get a little relief in the space. Coupled with the export tax rebate rate from 8 months up to 3 percentage points, exporters delivered in August after the list of foreign exchange earnings should be higher than the expected increase. However, for the purchase of raw materials in international markets for companies, the dollar's appreciation is not an entirely good news. Although not significant appreciation of RMB against U.S. dollar, also 不会 significant increase in the cost of imports, but the dollar exchange rate fluctuations in Dai Lai Le dollar-denominated international bulk commodity prices fluctuations, Zi dollar Kaishi three quarters, the international price of crude oil in recent years The first substantial decline in the third quarter, nearly 20% decrease in the chain. Textile industry, petroleum products as raw materials of chemical fiber raw materials and sharp price decline, such as domestic polyester PTA treasure in the average price in the end of June 9600 yuan / ton, to the end of September has fallen to 7200 yuan / ton, polyester Staple the average price also grew from the end of June of 11,900 yuan / ton in September dropped to about 10,000 yuan / ton, down more than 15%. Products, chemical fiber enterprises to significantly lower prices of products and raw materials inventory purchase orders suffered huge losses. Meanwhile, the chemical fiber raw material price volatility due to the substantial decline in business inventories lead to chemical fiber products, panic, making the market turns lower prices appeared on sales, the result is chaos in the competition. Judging from the trend of future development, the dollar appreciation of the current state is not sustainable. On the one hand, the U.S. government has launched a massive financial rescue plan, hundreds of billions of dollars are being phased into the financial markets, the dollar supply is increasing. On the other hand, by cutting interest rates to stimulate domestic consumption and investment growth will be the United States in the process of economic recovery control means necessary. With the gradual implementation of a series of measures the dollar's liquidity will be necessary to restore the dollar's value will gradually lower the current level, showing a depreciation of the state. In fact, early in this century the U.S. IT industry bubble burst Full slowdown in U.S. economic growth caused the stage, the U.S. dollar also appears obvious appreciation trend, while the gradual recovery as the U.S. economy, the dollar's depreciation trend has gradually apparent. Depreciation of the dollar will inevitably bring about the passive appreciation of the yuan, to appreciate China's textile industry for such an export-oriented industries are clear, weakening export prices competitive edge and bring foreign exchange losses in the process of revaluation is inevitable. At the same time, the stability of the dollar at this stage how to last long, depreciation of the dollar in what is expected when it will really happen is still very difficult to accurately assess. Thus, even in the current state of a stable exchange rate, export enterprises export orders the next step should be to offer what could reduce the foreign exchange loss is still the problem will surely result in large companies try to avoid access, long-lead orders, the actual on is to reduce the company's earnings. For imported raw materials business is the same lack of certainty as the dollar exchange rate, commodity price trends are difficult to predict, companies can avoid inventory loss side edge production in the procurement of raw materials, but also inevitably lead to a lower level of business starts, reduced earnings. (Source: Mechanical Experts Network) |
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