As the holiday approaches, the demand for overseas friends, whether they are returning home for family visits or traveling to various places, has skyrocketed.

 

Coincidentally, many overseas countries' currencies have shown strong performance, frequently breaking historical records and even returning to pre-pandemic levels, while prices have not risen in a timely manner. It's really delightful to see!

 

Now is a great time to exchange currency. Let's take a look at the exchange rates of various countries with Panda~

 

JPY: Fall then Rise

 

As Japan reverses its extreme dovish monetary policy, there are increasing signs that the yen is at a turning point. On July 27th, the exchange rate for 100 yen to RMB was 5.1 yuan.

 

Source: Sina Finance

 

Analyst VirajPatel said, "We are only getting closer to the ultimate risk of a global recession, and as we approach the end of the year, this possibility will only increase." He predicts that if the global economy experiences a recession, the yen will appreciate by about 20%.

 

AUD: A New High in Two Years

 

On July 13th, after the Australian dollar broke through 4.8 against the Chinese yuan, 4.9 also arrived! The current exchange rate has reached a new high in over two years, and it looks like it is going to 5.

 

Source: Sina Finance

 

Previously, when the Federal Reserve of Australia raised interest rates in June, the Australian dollar rose for a wave, and now it has risen again. The result is that inflation in Australia remains high, with the latest monthly inflation indicator in May still at 7%. The effect of interest rate hikes is not good.

 

Consumer confidence continues to decline, and Australians are becoming more and more heavily indebted. But at present, the probability of continuing to raise interest rates in August is not low, and hard days will continue for a long time.

 

HKD: Continuously Rise, Approach a Five-year High

 

Since the beginning of this year, the exchange rate between the Hong Kong dollar and the Chinese yuan has continued to rise. Especially since April, the Hong Kong dollar has risen against the Chinese yuan for 14 consecutive weeks, rising from 0.87 to 0.92 on July 6th! Approaching the five-year high of 0.93 at the end of last year.

 

Source: Sina Finance

 

In Hong Kong, the real-time Alipay and WeChat exchange rate quotes at some exchange points were 1:1.02, approaching 1:1. There are also many people queuing in front of the exchange points to exchange currency.

 

Li Daxiao, Chief Economist of Yingda Securities, said, "The Hong Kong dollar is pegged to the US dollar, and its volatility and impact are the same as the US dollar." The recent fluctuations in the US dollar have stabilized, so it is expected that the fluctuations in the Hong Kong dollar exchange rate will also stabilize soon.

 

USD: Slight Decline, Expected to Continue

 

The onshore and offshore RMB/USD exchange rate has recently fluctuated and appreciated, with overall fluctuations around 7.15.

 

Source: Sina Finance

 

It can be clearly seen that the trend of the RMB is more closely related to domestic macroeconomic expectations. The central bank has taken measures to regulate the exchange rate, and the RMB exchange rate has risen accordingly. There is still a possibility of changes in the subsequent trend of the RMB exchange rate.

 

EUR: Return to the Era of 8 Exchange Rates

 

From last year's weak exchange rate to April this year, the euro exchange rate has skyrocketed, breaking 8 on July 13th, which is truly shocking! This is closely related to the macroeconomic interest rate adjustment policy of the European Central Bank. Currently, due to the depreciation of the RMB, the euro exchange rate has rebounded again, returning to the era of 8 exchange rate.

 

Source: Sina Finance

 

For many Chinese friends who work and live in Europe, the rise in the euro exchange rate is undoubtedly a good thing for it is equivalent to earning more. If you needs to send money back to China, it is even better!

 

GBP: Is It within Reach of Breaking 10?

 

In recent months, the pound has been on a sharp upward trend, reaching a new high against the Chinese yuan in nearly two years, with the highest exchange rate reaching 1:9.4. Looking back in September 2022, the pound exchange rate once fell below 8. The difference is not average.

 

Let me explain the difference between exchanging pounds now and last September with specific numbers: for every 10000 pounds exchanged now, it is equivalent to spending about 15000 RMB more.

 

Source: Sina Finance

 

In addition to the GBP/CNY ratio, the GBP/USD ratio also reached a 15-month high of 1.2934, which is related to a significant increase in local wages in the UK, a stable job market, interest rate hikes by the Bank of England, and a weak US dollar.

 

NZD: Rise! It May Increase in the Future!

 

The current level of 4.5 is not particularly high compared to 4.8 in 2021 and 5.37 in 2013. But for international students who have become accustomed to the lower exchange rates in 2022 and 2023, this sudden increase is indeed unacceptable.

 

Source: Sina Finance

 

Of course, exchange rate fluctuations are frequent, and it is still unknown whether the exchange rate will continue to rise in the future. At least now, the exchange rate has reached a high point! Has the inflection point of the RMB exchange rate been realized? Don't wait to exchange next time, let's exchange now! Friends with exchange needs should aim for the exchange opportunity and take action in a timely manner!

 

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