| View previous topic :: View next topic |
| Author |
Message |
Noelle
Joined: 26 Mar 2005
Posts: 361
Location: USA
|
 Posted: Wed Nov 19, 2008 11:42 am Post subject: U.S. dollar/Chinese RMB exchange rate? |
 |
|
hey all
I apologize if this topic has been covered recently. I checked and didn't see it.
I'm considering making a trip to Shanghai soon from Seoul. I was just wondering how things are now with the U.S. dollar being so low. How has this affected the exchange rate in mainland China? |
|
| Back to top |
|
 |
randyj
Joined: 19 Jan 2003
Posts: 460
Location: Nanjing, Jiangsu, China
|
| Posted: Wed Nov 19, 2008 3:41 pm Post subject: |
|
|
| Actually the dollar has done well lately against currencies that truly float. I guess things are even worse in Europe, for example, than the US. In China, however, the exchange floats only in a tiny, narrow band stipulated by China, so the dollar has not risen much, if at all. Look at xe.com . |
|
| Back to top |
|
|
brsmith15
Joined: 12 May 2003
Posts: 1142
Location: New Hampshire USA
|
| Posted: Wed Nov 19, 2008 6:12 pm Post subject: |
|
|
| Right now the exchange rate is around 6.83 RMB/USD. When I came 10 years ago it was fixed at 8.27. Some "experts" think the eventual rate will be near 5.0. With the US economy in the toilet........who knows? |
|
| Back to top |
|
|
cj750nomad
Joined: 11 Oct 2008
Posts: 252
Location: Beijing and
|
| Posted: Wed Nov 19, 2008 11:11 pm Post subject: |
|
|
| Quote: |
| Actually the dollar has done well lately against currencies that truly float. |
It did better when it was pegged to the Rmb... but at US insistence the Rmb was given a narrow ban( by Chinese authorities) to float within.... the US blamed the trade imbalance on the artificially low RMB...worked better for the purchase power of the individual but not for the politicians and the manufactures...
the reduction in the pound has seen a drop of over 4 RMB per pound and in many cases .. on the average "good" salary this can mean a fall of around 5k RMB purchase power in exchange. |
|
| Back to top |
|
|
Noelle
Joined: 26 Mar 2005
Posts: 361
Location: USA
|
| Posted: Thu Nov 20, 2008 1:24 am Post subject: |
|
|
| thanks for the replies! |
|
| Back to top |
|
|
Ms Bean
Joined: 11 Oct 2008
Posts: 110
Location: Wilmington
|
| Posted: Sun Nov 23, 2008 3:26 pm Post subject: |
|
|
It fluctuates daily, so check this site for most recent rates:
http://www.xe.com/ucc/ |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
