In order to guard against exchange rate risks, since the reform and opening up, China's financial institutions have made great progress in operating ability and providing financial products, especially with the continuous reform of China's foreign exchange management system, which provides more means for enterprises to guard against exchange rate risks. If import and export enterprises can combine their own financial situation and business strategy and make serious use of them, they can effectively resolve the impact of exchange rate.
First, the method of optimizing the currency combination.
Under normal circumstances, in export trade, we should choose "currency" or a currency with an upward trend as the pricing currency; In import trade, we should choose "soft currency" or a currency with a downward trend as the pricing currency. In order to buffer the sharp fluctuation of exchange rate in import and export contracts with large amount, multiple currency combinations should be used for pricing, which is usually called "package pricing method". In the selected currency combination, the combination of "currency" and "soft currency" can be adopted, so that the gains brought by the appreciating currency can offset the losses brought by the depreciating currency. If the other party insists on choosing the currency in the transaction, the buyer and the seller can make each other lose money through negotiation.
2. Advance payment or deferred payment
After the import and export contract comes into effect, the enterprise should closely follow the expected exchange rate changes of accounts receivable and accounts payable against the local currency. Once the exchange rate changes drastically, it can be avoided by changing the collection and payment time of accounts receivable and accounts payable. In this case, if the other party disagrees, it can make concessions through a certain discount, which can reduce the corresponding losses that will be suffered due to the drastic changes in the exchange rate.
Third, the balance method.
It refers to the method by which an enterprise creates a situation in which the funds with the same currency, the same amount and the same term flow in reverse with the risk currency through the operation in the same period, so as to eliminate the foreign exchange risk. For example, three months later, ABC Company had an import account payable of $654.38 million. According to the change of exchange rate, the company should try to export goods with the same amount of dollars, so that after three months, it can collect an account with the same amount of dollars to offset the payment payable after three months and eliminate the foreign exchange risk. Of course, under normal circumstances, it is difficult for import and export enterprises to achieve "complete balance" in currencies receivable and payable. Therefore, to achieve this operation, we need to rely on the close cooperation between various departments of the enterprise.
Fourth, adjust the contract price.
In the export business, if exporters insist on using their own currency as the pricing currency, the exchange rate risk of enterprises' exports will increase when the exchange rate tends to decline. Therefore, in the seller's market, exporters should raise the export price appropriately to make up for the possible losses when they expect to collect foreign exchange.
Verb (abbreviation of verb) adds foreign exchange hedging clause.
Enterprises can add foreign currency hedging clauses according to the situation of exchange rate market when negotiating transactions. There are three kinds of actual business: one is the "currency" of pricing and the "soft currency" of payment, and the payment is made according to the current quotation of pricing currency and payment currency to ensure the income; Second, both pricing and payment use "soft currency", but the price of this currency and another "currency" is clearly stipulated when signing the contract. If the price changes during the actual payment, the original price will be adjusted according to the change range of the price; The third is to determine the "agreed exchange rate" of the exchange rate. If the price of the two currencies exceeds the "agreed exchange rate" at the time of actual payment, the original price will be adjusted.
Intransitive verbs sign forward foreign exchange trading contracts.
Enterprises with foreign exchange claims or debts can offset foreign exchange risks by signing contracts with banks to sell or buy forward foreign exchange. Enterprises can also borrow loans with the same amount, the same term and the same currency from banks to finance funds, prevent foreign exchange risks and change the risk time.
In addition, under the current foreign exchange system, a considerable number of import and export enterprises can keep foreign exchange deposit accounts. In this regard, enterprises should pay close attention to the changes in the exchange rate market and guard against accounting risks. At the same time, enterprises should also keep their foreign currency in a "coin" state through legal operation to realize the benefit of value preservation.
Import and export enterprises can reduce and eliminate foreign exchange risk and its potential impact by using the above methods reasonably. Sometimes several methods can be used together to achieve better results. However, risk control is relative and closely related to various basic conditions, realistic environment, business ability and other different factors of the enterprise. Therefore, enterprises should flexibly master and apply various measures to prevent exchange rate risks, and form their own characteristics in repeated practical applications, so as to achieve the effect of preventing or reducing exchange rate risks.