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Dollar to RMB Rate Goes to 6.28

01 Feb 2018



The hottest topic spray among the exporters and many traders in China due to the rate of Dollar to Rmb becomes the lowest point lower than 6.30.Everyone is asking will the dollar appreciate again?It has affected our organic collagen and protein powder exporting business a lot.Before,we are getting more amount of beef skin gelatin as compared to now with the competitive pearl glue at high quality and good price.But now it is not available.


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The Chinese yuan staged strong performance in the first month of 2018, far from what the market had anticipated.

 

The central parity rate of the Chinese currency renminbi (RMB), or the yuan, strengthened for the seventh consecutive trading day to 6.3267 on Monday, the strongest level since Nov. 2, 2015.

 

The persistent weakening of the U.S. dollar was the external reason behind yuan's strong reading,

 

However, the fundamental reason behind the yuan's rally is a robust Chinese economy, which boosts investor confidence in the currency.

 

In addition, China has cracked down on illegal capital transfers disguised as outbound investment, stepped up regulation of irrational overseas investment activities, and strengthened scrutiny over irregular forex purchases by individuals.

 

Economists also cautioned that a fast appreciation of the yuan and rapid capital flow to the Chinese market may push up property and capital market prices and drag down exports.

 

Hope this situation will become better soon and our unflavored gelatin business will grow up and gelatin powder and protein powder extracted from cow bovine skin will become more competitive.


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