新聞中心
8月11日，人民幣對(duì)美元中間價(jià)上漲128點(diǎn)，報(bào)6.6642。人民幣中間價(jià)已連續(xù)4日調(diào)升，創(chuàng)出去年9月22日來新高，本周累計(jì)調(diào)升490個(gè)基點(diǎn)。今年以來累計(jì)調(diào)升2728個(gè)基點(diǎn)，升幅近4%。
On August 11, the middle rate of RMB Yuan against US dollars concluded at 6.6642 which had rised for 128. The middle rate of RMB Yuan had rised for 4 days which had set a new record since December 22 last year. It had been risen for 490 point this week. It had been risen for 2728 point for this year. Its growth rate reached 4 %.
在此情況下，外貿(mào)企業(yè)應(yīng)該如何操作才能規(guī)避匯率波動(dòng)所帶來的風(fēng)險(xiǎn)呢？
Under such circumstances, what can foreign trade enterprises do to avoid the risks caused by exchange fluctiations?
1.將匯率風(fēng)險(xiǎn)納入成本控制
Put exchange rate risk into cost control system
既然匯率的波動(dòng)現(xiàn)在已經(jīng)比較頻繁了，那不如干脆在核算成本的時(shí)候就留有余地，因?yàn)樵谝欢ǖ闹芷趦?nèi)匯率的波動(dòng)還是有一定的范圍的，一般在3%-5%之間，報(bào)價(jià)時(shí)就把這個(gè)區(qū)間考慮進(jìn)去。同時(shí)也可以和客戶約定如果超出這個(gè)比例，那么風(fēng)險(xiǎn)共擔(dān)，由買賣雙方共同承擔(dān)因匯率波動(dòng)而帶來的利潤損失。或者約定報(bào)價(jià)有效期，比如將原來1-3個(gè)月報(bào)一次價(jià)格縮減到了10-15天，甚至每天按照匯率波動(dòng)更新報(bào)價(jià)單。
Now that exchange rate fluctuations happen frequently, we’d better calculate it as one of the factors which influence the cost. Because the exchange rate fluctuates among 3 % to 5 %, we’d better consider this when making quotations. Meanwhile, we can promise that we’ll take risks together if the exchange rate goes beyond the proportion. Both the two parties take the loss of profit caused by exchange rate fluctuations. Or we can also set up the period of validity of quotations. For example, we made quotations every one to three months before. Then we can cut it down to 10 to 15 days. We can even renew our price list everyday according to the exchange rate fluctuations.
此外，也可以采取同一種產(chǎn)品根據(jù)不同付款方式提供不同報(bào)價(jià)的方式，如信用證付款是一個(gè)價(jià)格，50％預(yù)付是一個(gè)價(jià)格，100％預(yù)付又是另外一個(gè)價(jià)格，讓買家自己選擇。
In addition, we can provide different ways of quotations for one identical kind of produjcts according to different terms of payment. For example, the price of L/C is different from 50 % advance before payment and 100 % payment in advance.
2.貿(mào)易融資
Trade financing
貿(mào)易融資是目前企業(yè)采用最多的避險(xiǎn)方式。主要原因包括：
Trade financing is a hedging method which most of the enterprises use. The reasons include:
一是貿(mào)易融資可以較好地解決外貿(mào)企業(yè)資金周轉(zhuǎn)問題。
First, trade financing can better solve capital turnover problems of foreign trade enterprises.
二是貿(mào)易融資成本相對(duì)較低。在貿(mào)易融資方式構(gòu)成中，進(jìn)出口押匯使用比重較高（約為80%）。
Secondly, the cost of trade financing is relatively low. The proportion of Bill Purchased is higher (About 80 %).
另外，一些企業(yè)還使用福費(fèi)廷等期限較長的貿(mào)易融資方式。
Besides, some enterprises use trade financing methods like Forfeit.
3.使用金融衍生產(chǎn)品
Use financial derivatives
企業(yè)使用金融衍生產(chǎn)品的主要特點(diǎn)如下：
The main features for enterprises to use financial derivatives are as follows:
一是使用遠(yuǎn)期結(jié)售匯工具較多；
First, they use forward purchase tools more.
二是部分企業(yè)運(yùn)用外匯掉期和境外人民幣無本金交割遠(yuǎn)期（NDF）工具。
Secondly, some enterprises use foreign exchange swap and NDF.
4.使用人民幣計(jì)價(jià)結(jié)算
Use CNY valuation to close an order
用人民幣計(jì)價(jià)結(jié)算可以起到與匯率風(fēng)險(xiǎn)基本隔絕的效果，企業(yè)要及時(shí)了解有關(guān)改革和政策的動(dòng)向，在政策允許范圍內(nèi)考慮使用人民幣。
It can basically prevent us from the risks of exchange rate risks. The enterprises need to know about the tendency of the related reform and policies and use CNY under the political constraints.
5.進(jìn)出口對(duì)沖
Import and export hedging
對(duì)于進(jìn)出口公司既可以從事出口業(yè)務(wù)也可以從事進(jìn)口業(yè)務(wù)，那么就可以利用自己既是買者又是賣者的身份來平衡匯率波動(dòng)造成的價(jià)格差異。因?yàn)楫?dāng)匯率下跌時(shí)，導(dǎo)致出口收匯縮水，同時(shí)進(jìn)口業(yè)務(wù)支付的實(shí)際金額也相應(yīng)減少，這樣一增一減也就使得本公司內(nèi)的財(cái)務(wù)指標(biāo)達(dá)到了平衡。
For import and export corporations, they can not only be occupied in export businesses but also in import enterprises so that they can make good use of this to balance the price variance caused by exchange rate fluctuations. When the exchange rate depreciates, the export earnings shrink, meanwhile the actual amount of import businesses reduces correspondingly. With this, the company’s financial index is balanced.
6.增強(qiáng)匯率風(fēng)險(xiǎn)管理技
Strengthen the skill of exchange rate risk management
最后，建議大家養(yǎng)成一個(gè)習(xí)慣，在每天上班和下班前瀏覽當(dāng)天匯率的變動(dòng)（可查看中國銀行的現(xiàn)匯買入價(jià)），隨時(shí)整理出新的對(duì)外價(jià)格表。另外也可以關(guān)注一些時(shí)政新聞、國際貿(mào)易新聞，從而對(duì)趨勢有一定的把握。
At last, I suggest that you form a habit that you check the exchange rate movement everyday (You can check spot exchange buying rate on Bank of China) and sort out the outward price lists. Moreover, you can pay attention to political news and international trade news so that you can know about the tendency to some extent.
企業(yè)可以培養(yǎng)和引進(jìn)懂專業(yè)、懂技術(shù)、懂工具的財(cái)務(wù)人員，加大有關(guān)信息的投入，使之能夠在外部咨詢的基礎(chǔ)上對(duì)匯率做出獨(dú)立的判斷，能夠識(shí)別風(fēng)險(xiǎn)點(diǎn)并運(yùn)用有關(guān)工具管理風(fēng)險(xiǎn)。如果一家企業(yè)無法承擔(dān)這項(xiàng)開支的話，可以由多家企業(yè)聯(lián)合共同完成這項(xiàng)工作，同時(shí)也資源共享。當(dāng)然也可以訂制商業(yè)銀行的專門服務(wù)，由銀行的研究團(tuán)隊(duì)提供專業(yè)參考意見。
Enterprises can cultivate and bring in financial staffs who are clear of the profession, technologies and instruments and invest more on relevant information so that they can be independent in judgement about exchange rate on the basis of external consulting and they can identify the risks and utilize the related instruments to manage the risk. If an enterprise can’t undertake the expenditure, they can gather with other enterprises to accomplish this task together, meanwhile, they share the resources. Of course, they can order the special services of commercial banks so as to ask the research team to provide professional suggestions.