If put option is purchased, the RMB return after 90 days is = 20 *(6.30-0.03)= 1.254 million RMB;
If no strategy is adopted, the RMB income after 90 days is 20 * (6.28 * 0.2+6.20 * 0.6+6.32 * 0.2) = 20 * 6.24 =1.248 million RMB.
Comparatively speaking, we should adopt the hedging strategy of buying put options to hedge the value. Because of its implementation, it will get the most RMB income.
2. The exchange rate of USD against RMB has a downward trend, indicating that USD will appreciate and RMB will depreciate. Borrow $4 million to convert it into RMB and deposit it in the bank, and wait until two months later to recover the US dollar to repay the debt. Or, borrow a small amount of RMB, buy a corresponding number of put options, and sell dollars at the exercise price two months later (this also depends on the value of put options).
3. The actual financing interest rate = (6% * 7+5% * 3)/(7+3) = 5.7%.
4. Actual financing cost = (1+8%) * (1-2%)-1= 5.84%.
5. Exchange rate change rate = (6.0750-6.75)/6.75 =-10%. It shows that the dollar value measured in RMB has decreased by 10%.
The above operations are only personal opinions and are for reference only. Please forgive me if there is anything wrong.