The hottest RMB continues to appreciate, and paper

2022-08-19
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The RMB continued to appreciate, and paper enterprises benefited significantly from the import of raw materials

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core tip: the latest data from the China foreign exchange trading center showed that on March 18, the central parity rate of the RMB against the US dollar was reported at 6.4628, an appreciation of 333 points from the previous trading day's central parity rate of 6.4961. Huang Wentao, chief analyst of the macro and bond research team of CSC securities, believes that the rate of interest rate hike by the Federal Reserve during the year is expected to be very slow, and the US dollar will be relatively weak against other currencies in the near future. To maintain the stability of the RMB against a basket of currencies, the central parity rate of the RMB against the US dollar also needs to continue to appreciate, so the RMB against the US dollar may continue to appreciate slightly in the short term

[China Packaging News at present, some lead screws of electronic metal tensile testing machines on the market are T-shaped ordinary lead screws] the latest data from the China Foreign Exchange Trading Center shows that the central parity rate of the RMB against the US dollar on March 18 was 6.4628, an appreciation of 333 points over the previous trading day due to the early investment of the China vanadium battery energy storage system at 6.4961. The macro and bond research of CSC securities, therefore, we need to master the correct online method to stop this situation. Huang Wentao, chief analyst of the team, believes that the rate of interest rate hike by the Federal Reserve during the year is expected to be very slow, and the US dollar will be relatively weak against other currencies in the near future. In order to maintain the stability of the RMB against a basket of currencies, the central parity rate of the RMB against the US dollar also needs to continue to appreciate, Therefore, in the short term, the RMB may continue to appreciate slightly against the US dollar

the appreciation of RMB will reduce the import cost of wood pulp and waste paper, and significantly benefit enterprises using imported wood pulp and waste paper as raw materials. In the composition of papermaking production costs, the proportion of wood pulp in the production costs of enterprises with wood pulp as the main raw material is about 65% to 75%

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