Now that RMB has broken 7, is it worthwhile to travel abroad?

At present, the RMB exchange rate is 1 USD = 7.0499 RMB. Breaking the 7-word mark for the first time will definitely affect the RMB exchange rate in people's hands after going abroad. It is particularly important to note that when we use RMB to travel abroad to Europe and America, it will definitely be affected. The relatively high value of US dollar in China will devalue the exchange rate of RMB abroad. Then the cost of traveling abroad will naturally increase.

On August 19, we can see that the exchange rate of the US dollar has been rising. In the process of various exchange rate rises, the pound, Australian dollar, Canadian dollar, Singapore dollar and Swiss franc all rose, while the rupee also fell in the exchange of RMB and foreign currency. If these countries have travel plans or plans to go abroad soon, they will certainly spend more than usual.

Now the cost of traveling abroad in Europe and America is higher than before, and some people prefer to use credit cards to shop. However, it should be noted that if the RMB continues to depreciate, it means that your credit card repayment and value will increase. But you can actually consider going to other countries, such as Japan and South Korea.

Japan and Korea have always been places where many young people want to travel. If only the exchange rate is considered, these two countries are more cost-effective. Because now 1 yuan is equivalent to 179.97 won, equivalent to 6.6229 yen. Only this time, the yen has risen. On the whole, the RMB is depreciating. Therefore, it is not cost-effective to travel abroad as a whole, because the consumption in South Korea is relatively high.

Of course, if you are rich, it is no problem not to consider this aspect, but if the funds are not particularly abundant, you can put your travel abroad for a while until the exchange rate rises later.