在回应议员质询时，片山皋月重申，汇率和收益率由市场决定，反映多重因素影响，"很难将财政政策 对它们的影响单独分析出来"。她同时透露，尽管本财年已通过追加预算，但国债发行总量将少于上一 财年，表明政府在制定财政政策时已充分考虑财政可持续性问题。 （文章来源：新华财经） 新华财经北京12月8日电日本财务大臣片山皋月在国会就外汇市场走势发表明确表态，强调若汇率出 现"过分波动"，日本政府将采取适当措施予以应对。 片山皋月指出，当前日元汇率呈现"单边、快速波动"的特征，对此她表示"深感担忧"。她强调，汇率保 持平稳波动至关重要，过度或无序的行情——尤其是由投机行为引发的波动——将可能触发政府干预。 ...

Group 1: Automotive Industry - South Korea's automotive exports are projected to decline for the first time in five years in 2025, with an estimated export volume of 2.71 to 2.72 million vehicles in 2023, representing a decrease of 2.3% to 2.6% compared to the previous year [2] - Exports of South Korean cars to the U.S. from January to October 2023 reached 1.10746 million units, accounting for 49.1% of total exports, which is a year-on-year decrease of 7.9% [2] - The U.S. tariff policy and protectionism are increasing uncertainty for South Korean exports in 2024, despite a reduction in tariffs from 25% to 15% under the Korea-U.S. tariff agreement [2] Group 2: Industrial Products - Several South Korean industrial products have faced significant challenges due to U.S. tariffs, with some companies reporting a complete halt in exports to the U.S. since June 2023 [3] - A South Korean company exporting industrial bolts and nuts has seen its products valued at 2 billion KRW stuck in warehouses due to terminated orders from U.S. clients following steel tariffs [3] - The number of inquiries to the Korea Trade-Investment Promotion Agency regarding tariffs has surged, with 7,722 cases reported from February 18 to late November 2023, highlighting confusion among companies due to frequent changes in U.S. customs standards [3] Group 3: Currency Fluctuations - The high volatility of the Korean won is creating unprecedented challenges for South Korean export industries, undermining the traditional benefits of a strong currency [4] - Companies in high-cost dollar-settled industries, such as refining and steel, are experiencing severe impacts from unpredictable exchange rate fluctuations [4] - For instance, SK Innovation reported that a 10% increase in the exchange rate would reduce its pre-tax profits by 154.4 billion KRW, while major steel companies like POSCO indicated that a similar increase could lead to a net profit decrease of 548.5 billion KRW [4]

另一名消息人士说，卢比兑美元汇率跌破90卢比兑换1美元这一重要心理关口引发关注，且可能助长投机行为，但央行在必要时可以介入以打击 投机行为。 路透社报道，印度是资本外流最严重市场之一，外国投资者今年以来已抛售价值170亿美元的印度股票。与此同时，外国直接投资、贸易和离岸 融资流动均放缓。 《印度教徒报》4日报道，外汇交易员认为，投资者在印度与美国贸易关系持续紧张期间将采取谨慎态度。 CR外汇咨询公司执行董事阿米特·帕巴里说："外汇市场如今不再根据关联经济增长的头条消息交易。它需要稳定，明确的政策指引，以及一份不 会一再推迟的（印美）贸易协议。" 新华社北京12月4日电 路透社4日援引三名知情人士的话报道，印度中央银行将容忍印度货币卢比贬值，主要缘于印度经济面临多重风险，包括 贸易逆差扩大和资本外流等。 报道说，印度央行印度储备银行至11月一直通过积极抛售美元来支撑卢比，但在过去7个交易日中，印度央行已允许卢比对美元汇率下跌1.3%。 印度卢比对美元汇率3日首次跌破90卢比兑换1美元关口，创历史新低。 2023年4月26日，人们聚集在印度新德里的一处市场。新华社发（贾韦德·达尔摄） 消息人士说，印度央行释放容忍 ...

2025年12月2日，中国外汇交易中心的数据显示，人民币对美元汇率中间价报7.0794，较前一交易日下调35个基点。这一细微波动背后，是2025年以来人民 币累计升值近4%的强劲表现，创下五年来最佳年度成绩。有人说这是中国经济韧性的体现，也有人担心出口企业会因此承压。那么，人民币到底该不该升 值？这个问题最近在网上吵翻了天。 人民币为啥突然值钱了 要搞明白人民币为啥升值，得先看看这几个关键因素。首先是美元走弱，2025年以来，美国经济复苏乏力，美联储不得不降息刺激经济，导致美元指数一路 走低。美元不值钱了，人民币自然就显得更值钱了。 其次，中国经济基本面表现亮眼。2025年前三季度GDP同比增长5.2%，工业增加值、消费等主要经济指标都超出预期。国家统计局的数据显示，2025年10 月份制造业PMI为50.8%，连续8个月位于扩张区间。经济好了，外国投资者自然更愿意把钱投到中国，人民币需求增加，汇率也就上去了。 资本市场的活跃也是重要原因。2025年A股市场表现不错，外资流入明显。截至2025年11月底，北向资金累计净流入超过3000亿元，同比增长25%。同时， 中国国债被纳入更多国际指数，吸引了大量长期资金 ...

2025年12月4日早盘，美元兑瑞郎报0.8000，较前一交易日微涨0.05%，日内波动于0.7990-0.8003区间， 延续0.80-0.81的低位震荡格局。美联储与瑞士央行政策分化、瑞郎避险属性强化，是汇率波动的核心驱 动。 美瑞汇率分化的核心是央行政策路径差异。美联储2025年完成两轮降息后，联邦基金利率维持 3.50%-3.75%，政策转向"数据依赖型观望"。鲍威尔强调12月降息需参考通胀与就业——10月核心PCE 同比2.8%距目标仍有差距，失业率3.8%保持稳定。美联储修订政策框架回归传统通胀目标，政策稳健 性抑制美元跌势，为美瑞汇率提供支撑。 瑞郎2025年强势源于双重逻辑：地缘冲突与全球经济放缓推动避险资金涌入，使其兑欧元升值8.3%； 瑞士金融体系稳定，即便三季度GDP环比仅增0.1%，汇率韧性仍强于其他避险货币。瑞士央行陷入政 策两难：干预汇率恐遭"操纵"指控，激进降息则可能压缩银行0.62%的历史低位净息差，引发信贷风 险。 美国经济韧性支撑美元：三季度GDP环比折年率2.1%超预期，消费支出增长3.0%，推动美元指数7月后 在98-102区间企稳。但长期压力仍存，白宫明确表态"弱美元 ...

Core Viewpoint - The Indian Rupee is facing significant depreciation against the US Dollar, breaking the psychological barrier of 90, amid uncertainties surrounding US-India trade negotiations, leading to increased capital outflow pressures [1][3]. Group 1: Currency Performance - On December 3, the Indian Rupee depreciated by 0.3%, reaching a historical low of 90.1575 against the US Dollar, driven by market concerns over stalled trade talks [1]. - The Rupee's decline is closely linked to the fluctuating sentiment surrounding US-India trade negotiations, which have been inconsistent throughout the year [4]. - The Indian central bank's interventions have been largely ineffective in stabilizing the Rupee, as market participants continue to expect further depreciation [6]. Group 2: Trade Negotiations - The ongoing trade negotiations between India and the US have faced multiple setbacks, with the US imposing higher-than-expected tariffs on Indian goods and threatening punitive measures due to India's energy purchases from Russia [4][5]. - Despite India engaging in trade talks with multiple economies, the uncertainty surrounding the US agreement remains a focal point for the market, exerting pressure on exports and the currency [5]. Group 3: Market Sentiment and Central Bank Response - Market participants are exhibiting a strong bearish sentiment towards the Rupee, with importers accelerating their demand for US Dollars, complicating the central bank's efforts to stabilize the currency [6]. - Analysts suggest that if the Rupee closes above 90, speculative pressures may increase, potentially pushing the currency towards 91 [6]. - The persistent weakness of the Rupee is likely to influence the Reserve Bank of India's monetary policy decisions, with expectations that the central bank may opt to maintain interest rates in light of currency volatility [7].

Core Points - South Korea is increasing its annual foreign exchange stabilization bond issuance limit from $1.4 billion to $5 billion for 2026, more than doubling the original plan, in response to rising dollar demand due to a trade agreement with the U.S. [1] - The issuance of foreign exchange stabilization bonds aims to address currency fluctuations and capital outflow pressures, with a commitment to invest $350 billion in the U.S. and limit annual dollar outflows to $20 billion [1] - The South Korean government is taking measures to boost foreign exchange reserves, including issuing $1.7 billion in Samurai and U.S. dollar bonds and €1.4 billion (approximately $1.6 billion) in euro bonds [1] Financial Ratings and Currency Trends - Moody's, S&P Global, and Fitch have rated South Korea's sovereign debt at Aa2, AA, and AA- respectively, indicating strong creditworthiness [2] - The South Korean won has depreciated over 7% against the U.S. dollar in the second half of the year, reaching its lowest level in 16 years, making it the worst-performing Asian currency during this period [2] - The South Korean government is concerned about the increasing uncertainty in the foreign exchange market and is actively considering all available tools to address the depreciation of the won [2] Government Response and Measures - An emergency meeting was convened on November 24 by multiple government departments, led by the Ministry of Finance, to discuss specific measures to stabilize the foreign exchange market [2] - The meeting focused on effectively alleviating the depreciation pressure on the won and evaluating potential intervention strategies [2]

瑞郎的避险属性与经济基本面形成鲜明反差，成为汇率波动的特殊催化因素。作为全球三大避险货币之 一，2025年地缘风险与全球经济波动推动资金持续流入瑞郎，使其年内累计升值超10%，一度触及 0.7915的近十年低点。但强势瑞郎严重削弱出口竞争力，瑞士央行虽维持1.0%-1.5%的2025年GDP增速 预期，却将通胀预期下修至0.2%，远低于2%的目标。 瑞士央行面临政策工具受限的困境，进一步放大汇率不确定性。传统外汇干预手段因美国指责"汇率操 纵"而空间收窄，降息则可能挤压银行利润、引发资本外流。美国经济相对韧性形成对比，其"高息+避 险"双属性使美元在跌势中获得缓冲，但瑞郎的避险需求黏性更强，即便降息预期升温，也难以扭转其 长期强势格局。 机构对美元兑瑞郎后市分歧聚焦于政策与避险的平衡。部分机构认为，若瑞士央行12月如期降息，汇价 可能短暂反弹至0.8150区间；而若地缘风险升级，瑞郎避险买盘将推动汇价向0.7900整数关口靠近。当 前市场对美联储12月维持利率不变的概率超50%，这种政策预期差本应加剧美元跌势，但避险需求形成 的支撑使汇率陷入平衡。 技术面看，美元兑瑞郎自9月触及0.7915低点后，形成0.8 ...

Core Insights - Zhuhai Hengqin Cross-Border Network Technology Co., Ltd. has applied for a patent titled "Multi-Warehouse Demand Management Method, Device, Equipment, and Storage Medium," which aims to address the impact of exchange rate fluctuations on demand management in cross-border e-commerce [1] Group 1: Patent Application - The patent application was published under CN121032392A with a filing date of August 2025 [1] - The invention provides a method that includes analyzing demand fluctuation data for exchange rate sensitivity, leading to the generation of warning information regarding the exchange rate elasticity coefficient for each warehouse node [1] - The method involves distributed coordinated decision-making to manage logistics constraints and optimize inventory allocation across multiple warehouses using blockchain technology and smart contracts [1] Group 2: Company Overview - Zhuhai Hengqin Cross-Border Network Technology Co., Ltd. was established in 2015 and is primarily engaged in postal services [2] - The company has a registered capital of 13.33 million RMB and has made investments in 9 enterprises while participating in 44 bidding projects [2] - The company holds 14 trademark registrations and 26 patents, along with 13 administrative licenses [2]

Nuvama Institutional外汇和大宗商品主管Sajal Gupta指出，印度卢比在11月21日突然下跌，原因是印度 央行放弃了对货币市场的坚定干预，而如今发生的事情"还是老一套"。他表示，在印度卢比兑美元汇率 关键的89.50支撑位被突破后，止损盘被触发，加剧了印度卢比的跌幅。 尽管印度央行近期采取措施干预以遏制印度卢比跌势，但该货币仍面临压力，因为印度是少数尚未与美 国签署贸易协议的主要经济体之一。澳新银行集团表示，贸易协议的推迟可能降低了印度央行动用外汇 储备捍卫印度卢比的紧迫性。 智通财经APP获悉，在交易员表示印度央行已不再捍卫本币汇率的同时，印度卢比兑美元汇率创下历史 新低。周一，印度卢比兑美元一度下跌0.4%，至1美元兑89.78印度卢比，跌破了上周五创下的前低点 89.49。与此同时，印度卢比的下跌令印度股市和债券承压，基准NSE Nifty 50指数回吐日内涨幅，五年 期国债收益率则升至9月以来最高水平。 尽管上周五的官方数据显示，在截至9月份的三个月里，印度经济以六个季度以来最快的速度增长，但 印度卢比仍然走低。国际货币基金组织已将印度下一财年的经济增长预期下调至6.2%，前提 ...