Archive | Currency

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  • UK devaluation starts hitting overseas apparel suppliers

    The dollar value of Chinese apparel exports to the UK fell 9.7% year on year in the six months after Britain’s June 23 referendum on EU membership, after increasing 2.8% in the previous six months

  • Trump abandons China “currency manipulation” promise

    Donald Trump announced on January 14 his abandonment of a central campaign pledge about China.

  • Are apparel prices really rising?

    Just about every apparel industry commentator on the planet is constantly going on about rising cost prices. But do any of them look at what buyers are paying?

  • Currency instabilities worry everyone

    The Indonesian rupiah has devalued 16% against the US dollar in the past year. Which is worrying Indonesian retailers. 

  • Pakistanis push for protection against euro devaluation

    Trade association, unhappy at euro’s  “21% devaluation”  wants its government to “support the industry by keeping currency at realistic value to mitigate the impact of high cost of doing business for maintaining competitive advantages.”

  • Indian suppliers add to concern about falling Euro

    Apparel and textile vendors in India’s Tamil Nadu started complaining in public on March 11 about falling income from European contracts, after the Euro fell 12.5% against the Indian rupee.

  • US Congress sees new Bill against currency manipulation

    …but key website predicting likelihood of legislation being passed gives it a 1% chance of making it into law.

  • US avoids calling China a currency manipulator. Again

    The US Treasury twice a year analyses other countries’ policies on their currencies and solemnly declares the Chinese government is interfering with its currency’s values, but not so scandalously it should be called a “manipulator”  – which would force the US President to say things the Chinese might get upset about.

  • Devaluations hit some garment industries much more than others

    The devaluations hitting developing markets during August 2013 have been very selective, with only five of the rich world’s top 25 apparel supplying countries seeing their currency devalue by more than 10% since August 2012.

  • Devaluations spark garment exporter confidence

    In India: http://www.news360.lk/economy/news-sri-lanka%E2%80%99s-22-08-2013-export-earnings-in-june-up-by-6-8-pct-990876

  • Chinese businesses confused over currency

    In the six months between mid-December and mid-May, the Chinese Yuan has appreciated 1.5% against the US dollar – but 22% against the Japanese yen. So businesses are complaining about losses due to an exchange rate which most Europeans and Americans see hardly changed

  • Chinese businesses confused over currency

    In the six months between mid-December and mid-May, the Chinese Yuan has appreciated 1.5% against the US dollar – but 22% against the Japanese yen. So businesses are complaining about losses due to an exchange rate which most Europeans and Americans see hardly changed
    Xia Guangyao, chairman of Wenzhou Jialunte Textile & Finery Co Ltd in Zhejiang province, says 2013 has been the worst of the past five years for his business. His net margins have fallen during the year from 15 percent to about 8 percent. Xia said the dwindling amount of orders from overseas since last year was the major challenge. The continuous appreciation of the yuan further ate into the profit margin.

  • Is there a point in calling China a currency manipulator?

    Will calling China a currency manipulator let an American government slap new tariffs on China?

  • Are “Currency Wars” the latest Fad of the Week?

    Does all the fuss about currencies really matter for the world garment trade?
    Since the middle of the decade, we’ve had a series of fashionable theories, first voiced by consultants, then taken up by the media and finally parroted by every politician. And never reflected in how garments were bought and sold. Now it looks as if “Currency Wars” are the latest in a long line of fads whose time never seems to come.

  • Does the Yuan really matter?

    The likely increase in the value of the Chinese Yuan may well be the most over-rated issue in the world garment trade since commentators seriously argued that Bird Flu would make exports from China impossible.
    China’s currency is likely to appreciate against the US dollar about 5% between mid-June 2010 and summer 2011. So common sense implies garment prices will go up 5%: even customers in the Eurozone negotiate most of their Chinese contracts in US dollars, so many people assume the currency appreciation will just pass itself straight on. But that belief misses three crucial points.