央行出手稳汇率：外贸企业如何应对人民币波动？
央行出手稳汇率：外贸企业如何应对人民币波动？
Central Bank Stabilizes Exchange Rate: How Should Foreign Trade Enterprises Respond to RMB Fluctuations?
近期人民币汇率波动加剧，中国央行连续出台稳汇率政策。继下调外汇存款准备金率后，9月26日央行宣布自2022年9月28日起，将远期售汇业务的外汇风险准备金率从0上调至20%。
Recent RMB exchange rate fluctuations have intensified, prompting the People's Bank of China to implement stabilization policies. Following the reduction of foreign exchange reserve requirements, on September 26 the PBOC announced it would raise the risk reserve ratio for forward foreign exchange sales from 0% to 20% effective September 28, 2022.
远期售汇业务的作用机制
远期售汇是外贸企业常用的汇率避险工具，通过锁定未来汇率帮助企业规避风险。当人民币出现明显波动时，企业可提前锁定购汇成本，实现货币保值。
Mechanism of forward foreign exchange sales
Forward foreign exchange sales are commonly used hedging instruments that help enterprises mitigate risks by locking in future exchange rates. When RMB experiences significant fluctuations, companies can secure future purchase costs in advance to maintain currency value.
专家解读政策影响：
中银证券管涛指出，上调准备金率是应对汇率波动的有效手段。光大银行周茂华认为，此举通过市场化方式增加远期购汇成本，促进外汇市场供需平衡。
Expert analysis of policy impact:
Guan Tao of BOC Securities noted that raising the reserve ratio is an effective measure against exchange rate fluctuations. Zhou Maohua of Everbright Bank stated this move increases forward purchase costs through market mechanisms to balance supply and demand.
人民币汇率最新动态
9月26日人民币中间价报7.0298，创2020年7月以来新低。政策公布后离岸人民币短线拉升300基点，但随后再次走贬。
Latest RMB exchange rate developments
On September 26, the central parity rate hit 7.0298, the lowest since July 2020. Offshore RMB briefly rose 300 basis points after the announcement before declining again.
企业应对建议：
民生银行温彬建议外贸企业树立汇率风险中性理念，善用金融衍生工具管理汇率风险，保持正常经营。
Recommendations for enterprises:
Wen Bin of CMBC advises foreign trade companies to adopt exchange rate risk neutrality concepts and utilize financial derivatives for risk management while maintaining normal operations.
未来展望：
专家普遍认为，我国经济基本面良好，国际收支顺差稳定，人民币不具备持续贬值基础。8月结汇率达71%，显示市场对人民币仍有信心。
Future outlook:
Experts generally agree China's sound economic fundamentals and stable balance of payments surplus provide no basis for sustained RMB depreciation. The 71% settlement rate in August indicates continued market confidence.
