RMB exchange rate falls against US dollar
RMB exchange rate falls against US dollar
On September 16, the exchange rate of the RMB against the U.S. dollar finally fell below the psychological threshold of "7". The last time the exchange rate of the U.S. dollar against the RMB reached 7 was in 2019. At that time, it reached a maximum of 7.18, and then the U.S. dollar gradually declined, and finally changed. Reasonable range long-term volatility. On September 19, the central parity rate of the RMB against the US dollar fell 91 points to 6.939 ，the lowest since August 14, 2020. Recently, the fluctuation of RMB exchange rate has been significantly amplified, and both onshore and offshore RMB fell below the 7 threshold against the US dollar. 
As a LED foreign trader , i am glad to see this situation .
In the recent period, or from the beginning of the year to the present, the dollar has obviously strengthened, hitting a new high for many years; Instead, non US currencies fell sharply, with significant declines: the exchange rates of sterling, euro, yen and other currencies against the US dollar hit new lows in the past 20 years, or even more than 30 years. In this case, as a non US currency, it is difficult for the RMB to strengthen against the trend, and it is often dragged down.
This has virtually promoted the export of our products(Motorcycle headlighthttps://www.liuhjgled.com/product/m3-double-color-led-headlight , small light turn signal https://www.liuhjgled.com/product-list/motorcycle-indicator, work light , indicator).
Of course, the current RMB exchange rate is not particularly weak, especially when compared with the US dollar exchange rate index. In the past, when the dollar index was above 100, the RMB may have broken 7, while the current dollar index is around 110. If the relationship between the RMB and the dollar index in the past two or three years is considered, the current RMB exchange rate may not be around 7.0, but around 7.2 and 7.3. Therefore, the RMB exchange rate performance is still relatively strong.
Although most countries have begun to coexist with the virus and are preparing to vigorously resume economic development, due to the impact of the energy crisis caused by the Russian-Ukrainian conflict this year, the Western economy has been hit hard. Many countries have taken interest rate cuts in order to boost economic vitality, which has led to a sharp depreciation of Western currencies. The United States has adopted a method of continuous interest rate hikes in order to resist high inflation. This has led to the European Union, the United Kingdom, Japan, South Korea... …and many other countries’ currencies have depreciated sharply against the U.S. dollar。
As a LED producer and foreign trader, this exchange rate is good for selling our Motorcycle headlight , work light , indicator,MP3, phone holder,alarm ,meter ,switch , led bulb and decorative models light ，Motorcycle modification parts，rear mirrors, CNC and handlegrips .
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