The RMB exchange rate has continued to rise sharply recently, with the onshore RMB once approaching 6.41. In the early stage, driven by foreign cotton, the price of imported cotton yarn (forward shipments quoted in US dollars) accumulated a certain increase, and the overall domestic spot price rose. However, due to the recent surge in RMB, which has offset part of the increase in imported yarn prices, the price of imported cotton yarn forward shipments in RMB has begun to slightly discount the spot price. However, according to feedback from some companies, due to the uncertainty in the future trend of the RMB, the repair of the futures and spot price difference caused by exchange rate fluctuations in the short term will not be able to significantly boost forward cargo ordering transactions, and import and export traders still face greater exchange rate risks. RMB surges, import and export trade faces exchange rate risks
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