December represents a new beginning. On the first day of the last month of 2021, the strong rise in the RMB exchange rate caught all foreign traders by surprise. On December 1, the central parity of the renminbi against the U.S. dollar was reported at 6.3693, an increase of 101 points, a record high since June. The exchange rate of RMB against the US dollar surged and fell on that day, hitting the 6.36 mark at one time, which was only one step away from the year's high of 6.3565.
The depreciation of the currency of the importing country against the U.S. dollar means an increase in the cost of imports. The currency of the exporting country appreciates against the U.S. dollar, which means that export profits will be suppressed.
In addition, according to the latest market news, because the market is in the traditional low season of demand at the end of the year, the overall silicone is in a downward trend to maintain stability. In addition, because December and early next year are at the peak of national holidays, the communication of information may not be timely.