Many people will think, does the sharp drop in the exchange rate of RMB against the US dollar mean that RMB is worthless?
This is about China's exchange rate system. In August 15, 1 1, China carried out the exchange rate system reform, which was called "August 1 1". The current exchange rate system is a managed floating exchange rate system based on market supply and demand and adjusted with reference to a basket of currencies. What does this mean? In the past, the RMB exchange rate was only pegged to the US dollar, and after the exchange rate reform, it was referred to a basket of currencies. However, the RMB exchange rate is still not free floating, but managed, and the regulatory authorities have the opportunity to adjust it when necessary.
After the exchange rate reform of "August 1 1", the exchange rate of US dollar against RMB fluctuated between 6.24-7. 19.
Many friends are worried that the RMB exchange rate has been depreciating recently, and they will worry whether their savings will shrink or whether they should buy some gold bars. After all, this is the only way to preserve value.
In fact, it is not what everyone understands. The depreciation of the exchange rate has indeed reduced the international purchasing power of the RMB. If it is purchased by sea, it may cost more money. But if you spend mainly in China, don't worry at all. The depreciation of RMB will not have a direct impact on domestic prices, and naturally it will not shrink.
How will that affect us?
From a macro point of view, the biggest impact is the following situations:
1, stock market and bond market
RMB depreciation is not a long-term trend, but short-term fluctuations cannot be ignored. America keeps getting in the way, and the market is in a pessimistic state, which leads to the recent stock market crash. We are not sure about the situation and the pressure of the domestic economy. Both the stock market and the bond market will be affected.
2. Commodities
There are two main aspects. First, commodity prices settled in dollars may face great downward pressure. Second, the cost of raw materials will rise, which in turn will increase commodity prices. The weakening of the economy under the action of two factors may have a negative impact on commodities.
3. Real estate
The depreciation of the RMB exchange rate shows that the price increase is still unabated, indicating that the exchange rate is not the most important factor in determining domestic housing prices. If the exchange rate does not fall into the trend of large-scale depreciation, house prices should not be affected by exchange rate changes. Because there are many factors affecting housing prices, such as domestic policies, residents' demand and money supply, short-term exchange rate fluctuations will only have a small impact.
For ordinary people, it mainly affects international students, Haitao people and overseas people.
1. Spending on studying abroad has increased substantially.
The group of international students can be said to have the largest demand for foreign exchange. Once the RMB depreciates, their living expenses and tuition and fees will increase. Especially those studying in the United States, it may cost a lot of money. And the summer vacation is coming. This time period is the peak season for studying abroad and traveling, and the demand for foreign exchange is definitely higher than usual.
2. The exchange cost of Haitao people has increased.
Haitao buys foreign goods. If the RMB depreciates, it will be expensive to convert it into RMB. Newborn families, in particular, attach great importance to children's nutrition. Some Haitao parents spend a lot on milk powder and cosmetics every month, and now they may have to support 100-200 yuan RMB every month.
The consumption of tourists has increased.
Some people who are keen on traveling abroad will spend a lot of money on transportation and accommodation, and also buy cosmetics, brand-name bags and watches. Although they may be rich, nobody's money comes from the wind, so now they have to pay more. Travel agencies may also raise their quotations for overseas travel, especially to the United States. With the devaluation of RMB, the number of people traveling abroad may decrease.
In fact, RMB depreciation is a double-edged sword, some are damaged, some are benefited, and it cannot be generalized.