Since the beginning of 2017 to now 2018, exchange rate between US dollars and Chinese RMB greatly fluctuation. At the beginning of 2017, 1 usd equals around 6.9 and even has potential flying to over 7. Nobody expects the big reverse over the half of 2017. It goes down very fast from 6.9 to around 6.20 at the end of 2017. This caused big losses for our Tongle Packing.
Take an example, one of our big clients KIK Germany,they placed lots of orders at the beginning of 2017,but delivery time was on the end of 2017. When i was quoting,surely i will quote based on 6.9,but when our Tongle Packing received the all amounts at the end of 2017, 10000USD we lose more than 1000USD(totally we have more than 100000USD amounts) just becs of the exchange rate. Now whole paper gift packaging industry really tough time and benefits too less and cannot bear such big losses. Our Tongle Packing is very serious on the business,we take full responsibilities of exchange rate fluctuation risks,we just cannot let our clients down.
As the specialized leading supplier of paper bags,paper boxes and wrapping paper in China,we will continuously offer excellent service and products for our dear clients,no matter order big or small,we make them perfect.