Parents of foreign exchange students have skills to choose the right remittance channels 3409
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In the middle of the summer, the United States, the United Kingdom, Australia, Canada, New Zealand autumn enrollment is approaching, and parents of international students have begun to prepare for their children's overseas study expenses。
"Originally, the tuition and living expenses of more than 40,000 US dollars a year can be exchanged at once, saving a lot of trouble, but under the appreciation of the renminbi, I followed the advice of the bank's financial manager to exchange the tuition fees that must be paid first, and the living expenses are exchanged in installments according to needs, so that some costs can be saved.。"A student's parents said Ms. He。
So far this year, the yuan has risen 1,086 basis points, or nearly 2%, against the dollar。According to the beginning of the year 6.The central parity rate of RMB 2301 against the US dollar, if the living expenses of more than 60,000 yuan at the beginning of the year were changed into US dollars yesterday, about 7,000 yuan can be saved。
In fact, under the relatively weak market of the US dollar, in addition to holding RMB as much as possible and transferring living expenses according to needs, more savvy American students' parents also keep good study abroad funds to buy short-term or even redeenable RMB financial products to achieve the purpose of adding value to study abroad funds。Because at present, the income of US dollar financial products with the same maturity is much lower than that of RMB financial products。
However, with the gradual recovery of the US economy and the withdrawal of quantitative easing policy, the signs of the dollar bottoming out have risen, and at the end of last month, the spot exchange rate of the RMB offshore market has continuously touched the limit of decline, and the market has gradually begun to anticipate the depreciation of the RMB。
In the first few trading days of this month, the central parity rate of the renminbi against the US dollar was set at 6.1778(8月1日)、6.1817(8月2日)、6.1767(8月5日)、6.1753(August 6), the RMB exchange rate began to hover。
If the basis for substantial appreciation of RMB is no longer available, the parents of international students and the majority of foreign exchange holders will undoubtedly increase the operational risk of holding RMB in order to settle foreign currencies at a lower cost and even obtain double income from interest rates and exchange rates。
To buy three months of yuan wealth management products (expected annual return of 4%) for example, bankers calculate that after three months, if the depreciation of the yuan once more than 0.75%, citizens' interest rates and exchange rates will be swallowed up。Experts said, "In theory, the yuan can fluctuate by 1% in a single day.。”
Yesterday, foreign exchange analysts at major banks suggested that parents of international students should consider allocating appropriate amounts of dollars, euros or pounds for their children based on the current exchange rate。However, given the expected interest rate cut in Australia and the devaluation policy in Japan, parents still need to be cautious with the Australian dollar and the Japanese yen。
Credit card use pay attention to the remittance channel to choose the right
In addition to foreign exchange exchange and holding skills, the industry also put forward effective suggestions for Yongcheng international students to use credit cards overseas, and parents of international students to remit money。
Financial planners suggest that it is best for overseas students to apply for an international credit card in the form of a master attached card, which can generally be used at thousands of merchants and more than one million ATMs around the world without currency exchange。On the one hand, parents can use the main card to purchase foreign exchange in RMB during the interest-free period, and on the other hand, they can also use online banking or statement functions to supervise the use of funds by their children。International credit cards should be used in the same currency as the clearing currency to avoid the additional cost of double exchange。
However, the experience reminds that the credit card overdraft withdrawal does not enjoy an interest-free period, from the day of overdraft withdrawal according to the overdraft amount of five thousand to calculate the daily interest, while withdrawing cash also according to the transaction amount to charge a certain fee, so cardholders try not to overdraft cash。
When sending money for their overseas children, many parents are used to wire transfer。Telegraphic transfer is the transfer of money through the international interbank telecommunications system directly to the recipient's account, its advantages are quick and convenient, but the cost is relatively high。If it is the first time to leave the country, have not yet opened a bank account abroad, and the city where you go to study just has a domestic bank outlet, then opening a draft is also a good choice, because it is convenient to carry and can save costs。A bank study abroad center told reporters that to study in the United Kingdom do not have to bring a lot of cash, you can consider exchanging about 1,000 pounds of cash as a petty cash, the rest try to use money orders。Financial experts suggest that parents of international students can choose the remittance method according to the factors of emergency, security, convenience, and affordability。
