Euros against RMB dropped below 8

Source:FRICWEL     Date:2012-05-24 00:18:44   Vues:19    Taille: A A A

Suffers from the negative news that Greece may retreat from the Euros area, on 23th May, 2012, for the first time, Euros againest RMB dropped below 8, ranked the lowest rate ever since June 2002. And this may be only a beginning of a new time.
This news affect badly to the weak Chinese exporting business, the Chinese company exporting margin shrinked again and again because of the RMB value increase issue, feeling much pressure from the US/RMB exchange rate, and when Euros value drops, it is harder for the Chinese company to do business via Euros, "our products will be more expensive and will be less competitive in the European markets" said one of our friends who runs a company of Auto parts in Zhejiang area, and this is just a common situation for most of the Chinese company.

We do wish the Euros/RMB rate can keep a steady and reasonable rate range, making our business easier.

We wish all our friends not affected badly from this fact.

Fricwel Automotive Limited  

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