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Central China sets the yuan exchange rate at a record new high

Carrello

By Carrello,
in Iraq & Dinar Related News

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Carrello Rising Star

Carrello

Posted
Posted

04/01/2012

Central China sets the yuan exchange rate at a record new high

China's central bank set the price is likely to trade the yuan on Wednesday at 6.3001 against the U.S. dollar. This is the highest level ever for the price is likely to trade the yuan since China allowed its currency to rise in 2005. Can the exchange rate of the dollar / yuan to fluctuate up or down by up to 5.0 percent of the price is likely to trade every day

http://www.imn.iq/news/view.6887/

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TonyDownTheShore Newbie

TonyDownTheShore

Posted
Posted

04/01/2012

Central China sets the yuan exchange rate at a record new high

China's central bank set the price is likely to trade the yuan on Wednesday at 6.3001 against the U.S. dollar. This is the highest level ever for the price is likely to trade the yuan since China allowed its currency to rise in 2005. Can the exchange rate of the dollar / yuan to fluctuate up or down by up to 5.0 percent of the price is likely to trade every day

http://www.imn.iq/news/view.6887/

What was the rate before ?

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Butifldrm Apprentice

Butifldrm

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Posted

As of last August:

The Chinese yuan, also known as the remnimbi, is China's national currency. The yuan has an important role in keeping China's economy competitive. Why? China keeps the yuan pegged to a basket of currencies, most notably the U.S. dollar. As of August 10 2011, a dollar was worth 6.4121 yuan, its highest level in 17 years. China is allowing the yuan to gradually rise to slow export growth and offset inflation.

http://useconomy.about.com/od/glossary/g/Yuan.htm

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Carrello Rising Star

Carrello

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hmmmm.....my translation is under construction....Is this the complete report.....Don't get me wrong, I appreciate what you have brought to us, but is there more to this than I am unable to pull up at this time?

thank you.

Yes, it is the complete article.

Yea but having heard so much about Chinas involvement as of late and the constant fighting of raising their rate....i think this might be pretty good news!

From what I understand is that because of China's holdings, they are waiting for the best possible RV rate, and because of their financial influence and an oil purchaser, they have held up the RV. No, there is no link. This comment should go in the Rumors section.

I don't know about you, but I will wait on China. B)

Edited by Carrello
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Shelley Experienced

Shelley

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Who was it in one of the threads that said forget the nonsense.......watch and follow China? I am going to look for it.

I'm not sure of the OP but I'm pretty sure, in the same thread, that China also has some kind of control over the Asian region currencies ???

could this also be good for the VND ????

Thanks Carrello, In all my trying to catch up, I'm seeing you've been bringing it girl !!!! B)

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zigmeister Newbie

zigmeister

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I'm not sure of the OP but I'm pretty sure, in the same thread, that China also has some kind of control over the Asian region currencies ???

could this also be good for the VND ????

Thanks Carrello, In all my trying to catch up, I'm seeing you've been bringing it girl !!!! B)

My telescope eyes have been so focused on the dinar, to say for sure if China's RV will make a difference in the VN dong.....hopefully. But Viet Nam has their own set of circumstances, their own set of problems. They are exporting manure I read the other day. ;) Not a bad thing.....people are getting the green thumbs these days.

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DinarDana Newbie

DinarDana

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some of the intel here lately ........said watch china........cant remember who..........but here we go...........GO DINAR

Spectatorsride and Bravo11 or 11ovarb had few posts back and forth a few nights ago on a thread 11ovarb started. Hmm or maybe that was yesterday...

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Carrello Rising Star

Carrello

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If I were China, or any other country, I'd want my currency to rise just before an Iraqi RV. It would cost far more for others to buy my own currency, or likewise, it would cost me less to buy other currencies.

..........smarty pants............... B)

************************************************

Dr. J has talked about China many times. I pulled his quote from another site. Thank you Michael, I hope you don't mind.

"I have gone over it in detail a number of times but since you have asked, I will give you the short and sweet version...

China holds A LOT of euros and dinar.

In June of 2010, when the euro hit $1.18 after falling from a high of $1.51 in November 2009, China bailed out the euro (ie. China bought even more euros) and the euro began climbing.

Recently, the euro has been in trouble and China has been working behind the scenes to support it.

As I have stated continuously, China has been the hold up with the dinar. You can go back and read all of my posts on DV, they are all dated. Why has China been the hold up? Because, the RV rate was always tied to the euro (currently at $1.29)and China has been after the best rate.

Fast forward to October 2011, Obama announces that the U.S. troops will be leaving Iraq by the end of the year. China balks at first and doesn't believe it. Obama follows through and now, I am hearing that China is "antsy" and is looking to complete a deal.

That is what I know and what I have shared. Frankly, I have been hearing positive rumblings since October 2011 but I have kept it to myself until today when I saw 11Bravo on DV confirm some of the things that I have been hearing. I am hopeful BUT not counting on anything. Personally, as I stated to Mr. Rich, there is too much work that still needs to be done.

So...again...NO GUARANTEES...JUST SHARING WHAT I KNOW TO BE TRUE!"

Dr. J

Edited by Carrello
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