Chinese Yuan (CNY) Lowest Level in 4 Years: Source Now from China to Lock In Profits
If you’re in the wholesale business, it’s obvious that finding the right source for your product is a key to success. What wholesale re-sellers often forget is to time there purchases to profit more by locking in favorable exchange rates.
In fact the Chinese Yuan (CNY), also known as the “Renminbi”, is currently at it’s lowest level in 4 years. In just a few month’s the Yuan lost 4% in value. You might think that’s not much, but look at the business case below:
- Let’s assume you’re currently buying a product at 80 USD and selling it for 100 USD. You’re profit is in this case 20 USD or 20% of the sales price. Now that the Yuan devalued by 4%, you can now source the same product for only 76.80 USD. Now the profit becomes 23.20 USD, which is an increase of 16% in absolute terms!
Visit Chinavasion.com today to source electronics and gadgets to lock in your profit margin now!