Expected Depreciation Of RMB Frequency Limit, Favorable For Export Of Textile And Garment Industry
In recent days, the renminbi has continued to show a downward trend, because the European debt crisis can not be solved in the short term.
Hedge
With strong demand, some of the capital flows from emerging economies to mature markets, and the desire to buy dollars is strengthened, and the renminbi is suppressed.
In the context of global economic recession and slowing domestic economic growth, devaluation of the renminbi will help stabilize textiles.
clothing
Electronic and electrical appliances, toy shoes and hats, furniture, building materials and construction machinery and other export oriented enterprises, but have a negative impact on the aviation sector and paper industry.
According to reports, yesterday, the RMB against the US dollar spot market rate continued to weaken, several times in the intraday drop to the limit line, overnight Euro
Weakness
Oscillations dragged down the central parity of RMB and opened up foreign exchange.
Yesterday, the central parity of RMB against the US dollar was 6.3349, and last Friday it was 6.3310.
RMB finally received 6.3641 in the inquiry trading system, and the last trading day was 6.3597.
Under the background of RMB devaluation expectations, the impact on listed companies of various sectors and sectors is different.
The depreciation of RMB is beneficial to the stability of the enterprises whose products are mainly exported and the raw materials are purchased locally.
Including textile and clothing, electronic and electrical appliances, toy shoes and hats, furniture, building materials and construction machinery, and so on, are all benefited industries.
According to research, RMB's appreciation rate is 1%, and the sales profit margin of the textile industry has dropped by 2%-6%.
Statistics show that the export dependency ratio of cotton textile, wool textile and clothing is 20%, 27% and 60% respectively.
At present, the average net profit margin of the entire textile industry is only 3%~4%.
In addition, China's textile and garment enterprises mainly focus on small and medium-sized enterprises. In the current situation of small and medium enterprises financing difficulties, the acceleration of RMB appreciation is a bit worse. Although some large textile enterprises have hedged the forward remittance, locking the cost of the company's settlement in advance, but it is difficult to completely offset the increase in the export cost caused by the appreciation of the renminbi.
If the RMB depreciates, the textile industry will benefit greatly.
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