Email Us

RMB Exchange Rate VS USD Recovered 6.39

RMB Exchange Rate VS USD Recovered 6.39

Shanghai Securities News (reporter Fan Zimeng) on October 25, the onshore RMB exchange rate against the US dollar opened up 20 points to recover the 6.39 mark. At the same time, the offshore RMB fell nearly 30 points against the US dollar in the short term. As of 9:32, the onshore and offshore RMB were reported at 6.3888 and 6.3842 against the US dollar respectively.

On the same day, the central parity rate of RMB against the US dollar rose 108 basis points to 6.3924 compared with the previous trading day.

Recently, the RMB has appreciated rapidly and maintained its strength. Zhong Zhengsheng, Ping An’s first economic team, believes that looking forward to the future, the short-term US dollar index still has a strong driving force, and the driving force for further appreciation of the RMB exchange rate is weak; In the medium term, the convergence of the economic growth gap between China and the United States in 2022 may cause some depreciation pressure on the RMB exchange rate; But in the long run, China's current account surplus year after year and the international capital flow situation are improving, supporting the long-term center of the RMB exchange rate. In addition, the approximate rate of RMB exchange rate will continue to fluctuate in both directions and increase its elasticity in the future.

Short comments: The most direct impact of RMB appreciation on export-oriented industries is the relative increase in export prices, which means that the price competitiveness of Chinese products abroad has decreased.

Popular Drum Barrel Fittings

Related Drum Accessories and Fittings News & Blog

  • PolypropylenePolypropyleneJune 25, 2023Today's English article mainly introduces polypropylene, polyethylene (PE) is a thermoplastic resin produced by polymerization of ethylene. Polyethylene odorless, non-toxic, feel like wax, has exc...view
  • Drum ClosureDrum ClosureJune 5, 2023Closures are devices and techniques used to close or seal a bottle, jug, jar, tube, can, etc. Drum closures are used to close and seal drum or barrel. Closures can be a cap, cover, lid, plug, etc. Dru...view
  • The Introduction of Silver FoilThe Introduction of Silver FoilJuly 24, 2023Abstract:A hot stamping material made of metal aluminum directly rolled into thin sheets, the hot stamping effect is similar to that of pure silver foil, so it is also called false silver foil. Due to...view
  • The Development Trend Of Metal Packaging ContainersThe Development Trend Of Metal Packaging ContainersJuly 1, 2022(1) Steel drum structure①The steel drum is lined with bag. The steel drum liner bag is to put the liner bag in a thousand steel drums. It combines the characteristics of two packaging materials at th...view
  • The Evolution and Advancement of Eco-Friendly PackagingThe Evolution and Advancement of Eco-Friendly PackagingDecember 15, 2023Compared with international advanced level, Chinese packaging technology is backward, so to improve packaging level, we should start with improving packaging technology, and increase the capital inves...view
  • Shandong Iron And Steel Co., Ltd. Strives To Seek Market Breakthroughs In The Steel Barrel IndustryShandong Iron And Steel Co., Ltd. Strives To Seek Market Breakthroughs In The Steel Barrel IndustryJuly 1, 2022Shandong Iron and Steel Group Rizhao Co., Ltd. (hereinafter referred to as "Shandong Rizhao Company") was formed by the reorganization of several steel mills such as Jigang and Laiwu Steel u...view
No.58 Qinjian Road, Hengshan Industrial Park, Shouchang Town, Jiande City, Zhejiang Province, China