Ex: Before RMB depreciation, the original 65,438+000 yen can be converted into 5.65,438+0905 (transfer: spot purchase price) RMB. After the devaluation, the Japanese only need to spend less than 60 yen (less than 100 yen) to exchange for the equivalent RMB.
Impact of RMB appreciation:
In the most popular words, the appreciation of RMB means the enhancement of the purchasing power of RMB (for example, RMB 6.3654 can be exchanged for 1 USD now, and only 3 yuan RMB can be bought for 1 USD after appreciation, or RMB 6.3654 can be bought for 2 USD). For example, in the international market (only in the international market can the purchasing power of RMB be enhanced), 1 yuan can only buy 1 unit of goods, and more units of goods can be purchased after the appreciation of RMB. The appreciation or depreciation of RMB is directly reflected in the exchange rate.
China has a large amount of foreign exchange reserves. After the appreciation of RMB, the amount of foreign exchange reserves will be reduced (for example, the current US$ 4 trillion is equivalent to RMB 25 trillion. If it appreciates, this US$ 4 trillion will become RMB 10 trillion, and the money owed by other countries to China will be paid off by half). In the diplomatic career, it is more terrible than turning into a pile of waste paper (China People's Bank released data on July 20, 200415, and China's foreign exchange reserves reached 3.99 trillion US dollars at the end of June).
The appreciation of RMB makes the United States the largest creditor. When its economic crisis hit, other countries began to depreciate, making the assets of other countries evaporate invisibly, that is, the American consumer world paid the bill.
The devaluation of RMB is considered as a possible choice to save exports.
If the RMB appreciates against non-US dollar currencies, it will lead to large-scale losses and closures of export-oriented enterprises in the Pearl River Delta and Yangtze River Delta, more unemployed migrant workers will stay in the local area, and social security cases will increase greatly.
According to the balance of payments data, the growth rate of China's exports to Europe, America and emerging market countries has dropped significantly or even year-on-year. It should be an inevitable and rational choice to keep the export competitiveness at a low exchange rate level and protect the difficult employment environment in China. Whether it is the spontaneous adjustment of the market or the requirements of macro-control, it is reasonable for the RMB to depreciate appropriately (wages will naturally increase).
Appropriate exchange rate adjustment cannot fundamentally save shrinking external demand. However, this is a very important breathing space for manufacturing and textile industries, especially small and medium-sized enterprises.