The appreciation of the RMB is active once again. The profit space for the company shrank gradually. Some long list and large order might has experienced losses. Since June 20, the second currency reform, every little change of the RMB exchange rate against the U. S. dollar captured every foreign trade enterprise operator's thought and emotion.
A 10% appreciation of the RMB, for foreign trade enterprises, means to directly reduce 1% of the profits. To the export of enterprises, appreciation of the RMB, plus the uncertainty of European and American economy, the exchange rate risk is the problem that has to be faced.
Actually, after going through the particularly intense season of fluctuation of foreign exchange market, recently issued quarter results of each company showed, enterprise preventing exchange rate risk was an art rather than a science.
However, the problem is many companies having lots of international business are still using traditional and critical after matter occurrence strategy to manage inestimable exchange rate risk, not using more dynamic and timely method to adapt to the new technology of exchange rate fluctuation.
So, foreign trade enterprises should how to cope with?
Guangbo Group President Wang Liping thought, if enterprise has a clear expectation of the RMB exchange rate volatility, enterprise also can timely adjust according to own state of operation.
Originally, Guangbo has already coped with the affect of exchange rate fluctuation on enterprise, through adjusting product structure and changing business strategy. It is reported that Guangbo Group's main European leading exporters centre on
Besides, the company has a set of a relatively complete credit control systems, including credit insurance, exchange rate two-way lock. Especially since the latter half of last year, the company started to adopt forward exchange buying/selling to avoid exchange rate risk, benefited a lot.
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For the next stage, Guangbo will also continue to pay close attention to exchange rate adjustment trend, continue to implement market diversification strategy, strengthen business risk prevention, adjust export structure, continuously improve the enterprise's competitiveness, through constantly perfecting labour using tactics and management mechanism, further prolong overseas sales service network, finally enhance company competition ability to explore the international market.
