RMB devaluation goods for China's chemical exporters
2015-8-12 17:18:20Editor：AmandaFont Size：Big Medium Small
The People's Bank of China (PBoC) lifted the daily USD/CNY exchange rate fixing by 1136 bp to 6.2298 yesterday (10 August), which made for the largest drop in its history and represented a devaluation of 1.86%.
With an assumption of 10% one-off depreciation, RMB devaluation will be good for China's chemical exportes. But analysts said it is only good for those real-time settlement of exchange companies, because they still believe that USD/CNY exchange rate will drop off in the future.
Meanwhile, RMB devaluation will further curb imported autos' sale in the future, which is a bad news for shivering auto importers.
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