Giant changes! Exchange rate has new upgrade!
熊猫速汇PandaRemit - 2023-02-08 15:54:56.0 98
In the past Chinese new year holiday, pandas have been shopping,shopping,shopping happily, and the consumption scene across the country is also booming. I believe everyone want to find the happiness as soon as possible that was lost in the past three years..
The world is also looking forward to China's economic giant ship to start again and lead the world out of the past three years in misery.
The exchange rate of CNY rose steadily
Presumably, everyone has witnessed the bleak picture in 2022, because the Federal Reserve has continuously raised interest rates, resulting in the appreciation of global currencies, Japan, South Korea and Europe are not immune, The CNY also depreciates with the mainstream currency
However, after entering 2023, in just one month, the derogation of the past half year has been increased back, we can arrange all the domestic and foreign tourism projects that we owe in the past three years, and the cost of studying abroad can also be saved a lot, not to mention the convenience of foreign trade and financial aspects management
According the background of the improvement of China's economy both inside and outside, the CNY exchange rate gradually shows the trend of a long-term reasonable range.
The US dollar fell after the Federal Reserve raised interest rates
The dollar, on the other hand, is a very different picture.
In the past two or three years, due to the impact of the epidemic, the US government has issued tens of trillions of dollars, hoping to stimulate the economy by printing banknotes in large quantities. As a result, the economy has been stimulated, but it has also caused inflation. This is really "pressing the gourd to float".
Since March 2022 entered the current rate increase cycle in March 2023, the Federal Reserve has raised interest rates by 450 basis points. However, even if the Federal Reserve raises interest rates endlessly, it is still unable to prevent the decline of the dollar exchange rate.
Under the constant interest rate increase, the economic vitality of the United States is becoming weaker and weaker. The printing machine of the Federal Reserve has been shut down, the economy of the whole country is sluggish, the prospect of consumption downturn is worrying, and the demand for money has dropped sharply.
Especially in 2023, the United States will continue to be mired in the Russian-Uzbekistan war. The scale of the war is also expanding, and the impact of the war on the global economy is also increasing.
The pound fell in a row Coincidentally
Coincidentally, the pound has not escaped the fate of decline.
Recently, the pound has fallen against major international currencies on a daily basis, and the main reason for the decline is the strength of various indicators of the dollar. In the form of pegging major international currencies to the dollar, the pound is relatively weak.
In addition, the form of strikes in various industries in the UK is very severe, making the systematic recovery of the economy weak, which of course cannot be compared with the positive expectations of the United States, and the exchange rate of sterling will naturally fall.
The Australian dollar will strengthen
At a time when the US dollar and the British pound are in decline, however, the Australian dollar broke through and became the best performing G10 currency so far this year (including the Canadian dollar, the New Zealand dollar, the euro, the British pound, the Japanese yen, the US dollar and the Swiss franc), which is at the highest level since the beginning of June 2022.
After the Federal Reserve slowed the pace of interest rate increase, the Australian stock market and the Australian dollar rose sharply. However, the core inflation rate in Australia is still very high. Extensive data shows that the Australian economy is cooling down, but the core inflation is "disturbingly high".
Although high inflation needs to be addressed, the Bank of Australia very much hopes to avoid economic recession, let alone be blamed for it. In the past period, the exchange rate of the Australian dollar have been continuously fluctuating. In the short term, the Australian dollar may still have a 3% - 5% decline space.
But in the long term, with the central bank cutting interest rates and the world economy restarting, the strength of the Australian dollar is just around the corner.
Panda warmly reminds family and friends at home and abroad to pay close attention to the current situation of domestic and foreign currency changes, seize the best opportunity to exchange in time, and maximize your own needs.
While overseas Chinese seize the opportunity to remit money to their domestic families when the currency is good, domestic friends can prepare to make travel and study abroad plans.
Of course, Panda also remind you to avoid potential risks.