The US dollar exchange rate soared to 6.9! How to protect profits amid drastic exchange rate fluctuations

Cross-border sellers received great news at the beginning of this week. The US dollar exchange rate has achieved three consecutive jumps and exceeded 6.9! And it has stabilized at around 6.92!

The US dollar index has not changed much in the past two days, so this wave of exchange rate changes is mainly caused by the depreciation of the RMB. Since the interest rate hike on the 20th, the US dollar index has remained high, and its suppression of other currencies has reached its highest point in 20 years. Whether it is the decline of the euro due to energy issues, plus the monthly fixed interest rate hikes by the Federal Reserve, they are all huge contributors to this wave of US dollar exchange rate increases.

At present, it seems that the situation between Russia and Ukraine is likely to drag on until winter, and the current rise of the US dollar will at least continue until the peak season at the end of the year. For our cross-border sellers, the profits during the peak season can be much higher. If it can reach 7 in October, compared with Prime Day in the middle of the year, the exchange rate has increased by 0.3 points, and a withdrawal of 10,000 US dollars can add 3,000 yuan, which is pure profit. The prosperity of cross-border e-commerce in the "7" era can reappear.

However, such a large exchange rate change still has some disadvantages for cross-border payments. The depreciation of the RMB means that it will cost more to pay for overseas services in RMB, such as advertising fees for Facebook and Google, platform fees for Amazon, etc. Sellers with such payment needs will need to find some lower-cost cross-border payment channels.

Payoneer is a cross-border payment function tailored by the old payment platform Payoneer for the cross-border e-commerce industry . It meets the cross-border payment scenarios of sellers paying for advertising fees on e-commerce platforms, social media advertising fees, etc., and basically covers all foreign currency payment needs of all cross-border sellers. More importantly, there is no recharge fee, no withdrawal fee, and no transaction fee, and you can also enjoy payment rebates.

Payoneer is one of the earliest companies to enter the overseas virtual card business. Its layout breadth and depth are undoubtedly the first echelon in the industry. It is also one of the few cross-border payment institutions that can issue European and American cards at the same time, ensuring the safety and approval rate of customers. The Pay as You Want function is in-depth cooperation with MasterCard to issue high-quality and secure card segments in Europe and the United States. Since its launch, it has covered more than 200 countries around the world and more than 1 million users. The registration process is also very simple. After logging in to the Payoneer account, the online application is automatically issued.

At the same time, Payoneer's Pay as you like also offers super high cashback, and new customers can enjoy a cashback rate of up to 5%! The cashback threshold is very low, as long as you use the Pay as you like function to pay various fees exceeding 2000USD, you can enjoy cashback!