First of all, the RMB exchange rate may sometimes bring additional exchange costs to export enterprises. If the exchange rate of RMB against the US dollar or other foreign currencies is relatively strong, then the export enterprises will get less foreign currency income. This may have an impact on the profit rate of enterprises, especially those export enterprises whose turnover is mainly denominated in foreign currency.
Secondly, the use of RMB for settlement may increase some additional costs and complexity. Compared with foreign currency direct settlement, RMB settlement involves more links and procedures. For example, export enterprises may need to cooperate with banks or third-party payment institutions to implement RMB settlement, which may generate additional formalities and time costs.
However, RMB settlement also has some advantages. First of all, the use of RMB settlement can reduce foreign exchange risks. When the export enterprises settle accounts in foreign currency, they need to bear the risk of exchange rate fluctuations. If export enterprises settle accounts in RMB, this risk can be avoided, because income and expenditure are all in the same currency.
In addition, the use of RMB for settlement will also help to enhance China's international payment system and the international status of RMB. China government has been promoting the internationalization of RMB. By promoting the use of RMB, we can increase the competitiveness of China enterprises and enhance the international reputation of RMB.
To sum up, when considering the exchange cost of export settlement in RMB, we need to comprehensively consider the trend of RMB exchange rate, additional procedures and complexity, foreign exchange risk and other factors. The situation of each export enterprise is different, and whether to choose RMB settlement in the end depends on the specific situation.