Exchange Rate Fluctuations Big Textile Foreign Trade List Dare Not Answer
"There are many customers in Africa, many orders, but because of exchange rate fluctuations, we dare not take orders." On the first two days of a forum held by foreign trade enterprises in Shaoxing, the head of Shaoxing textile dyeing and printing said that the biggest headache now was the depreciation of the currency of the largest economy in West Africa, resulting in a change in the exchange rate with the US dollar, which had a serious impact on the export of enterprises.
Since the completion of the production line pformation in September last year, the Bao textile printing and dyeing company now has 6 real wax printing and dyeing production lines. Under the influence of the financial crisis, although the price of raw materials is affected, the company still has a good growth trend in terms of potential and technological innovation. Compared with the same period last year, foreign exchange earnings from exports increased in the first quarter of this year. However, compared with the European and American markets, the export trade of the African market is still declining.
"From the original US dollar 1:119 to the previous 1:185. Although there is a rebound now, we still dare not send the goods out, for fear that the funds will not be collected. " The head of Bao textile printing and dyeing company believes that the depreciation of the company is also affected by the financial crisis. If our company has a suitable "financial expert", we can at least prevent it in advance.
At the symposium, some foreign trade enterprises said that many Russian, Ukraine and Nigeria merchants had already sold out their stocks, and they all wanted to buy them. But because the exchange rate fluctuated too much, both buyers and sellers had concerns. "Now we do not want to do business, but we are waiting for the exchange rate to stabilize." A business executive said that under the current situation, foreign trade enterprises paid more and more attention to exchange rate fluctuations, but they could not predict them.
"After all, we are not professionals, we can not provide predictive services for enterprises. We can only do our best to do well in information delivery service." At the symposium, the head of the open economic work of Binhai Industrial Zone said with deep emotion that sometimes we passed some information related to exchange rate to enterprises, which may have been "obsolete" information for half a day. He said, "can the relevant departments consider allowing experts to help predict?"
Opening the website of the Shaoxing Light Textile City Construction Management Committee and the website of more than 20 trade associations, such as textile and printing and dyeing industry, found that all kinds of fabric trends and paction price index are detailed and thoughtful, but it is difficult to find information about exchange rate, and it is even harder to see the experts' prediction of the relevant exchange rate.
"In fact, there is no lack of experts, but the lack of relevant agencies to take the lead." In the interview, foreign trade enterprises believe that the lack of exchange rate fluctuation analysis, prediction and early warning is a great pity in spinning City. Although banks can inquire about the current exchange rate, there is certainly a lack of specialization related to foreign trade.
Editor in chief: Xu Qiyun
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