RMB chart

[RLS]

Out of curiosity I wondered how much the Yuan had dropped over recent years. This is what I came up with. Actually, it has held pretty steady until recently.

 

http://i10.tinypic.com/4v6tv1u.jpg

Edited August 10, 2007 by RLS (see edit history)

[david_dawei]

if the minimum scale value were started at "0", then we'd see the drop is not really that great... In this view, it looks like a dow jones tumble

[GZBILL]

if the minimum scale value were started at "0", then we'd see the drop is not really that great... In this view, it looks like a dow jones tumble

 

Yeah, 9% in over 12 years.

[sawadee]

In history, the exchange rate of USD and CNY was once 1:11

[David&Wendy]

Also the Chinese RMB was "pegged" for several years and didn't fluctuate

[DMikeS4321]

I don't want to get too technical or sound like a smart*ss, but the RMB isn't dropping, it's going up in value when compared to the dollar. The number of RMB it takes to "buy" a dollar is going down, but that actually means the RMB is going "up" in value when compared to the dollar.

 

Good news for us; this makes our exports less expensive and more affordable to the largest market in the world.

 

Bad news for them; this makes their exports more expensive and less affordable to us, their biggest trading partner.

 

Revaluating the RMB (the opposite of DEvaluation) will be pretty harmful to the poor in China, because an increase in the value of a currency always hits the poor the hardest. It takes more production from the family rice plot to earn one of those "more valuable" RMB. That is one reason the Chinese government has resisted revaluation.

 

The push for revaluation has resulted in the government actively promoting the importation of more products from the West, especially the U.S. Increased imports have somewhat of the same effect as revaluation, but increased imports tend to raise the standard of living, something that is more helpful to the poor. More products equals lower demand which equals lower prices.

 

Best Regards

[DMikeS4321]

if the minimum scale value were started at "0", then we'd see the drop is not really that great... In this view, it looks like a dow jones tumble

 

Yeah, 9% in over 12 years.

 

8.44% increase in value during the past seven years when compared to the dollar.

Edited August 11, 2007 by DMikeS4321 (see edit history)

[RLS]

Would you all please excuse me for this terrible blunder. I would think it all depends on where you're coming from. To some it's rising and to some it's falling. It's getting so you can't say anything without some "expert" jumping in and trying to make you feel like an idiot for posting in the first place. Shit guys, all I did was make a simple graph to show the value of the RMB over the past few years. Excuse me for the misinformation.

[SirLancelot]

Would you all please excuse me for this terrible blunder. I would think it all depends on where you're coming from. To some it's rising and to some it's falling. It's getting so you can't say anything without some "expert" jumping in and trying to make you feel like an idiot for posting in the first place. Shit guys, all I did was make a simple graph to show the value of the RMB over the past few years. Excuse me for the misinformation.

 

Sorry RLS.

 

I deleted my previous post.

[GZBILL]

Would you all please excuse me for this terrible blunder. I would think it all depends on where you're coming from. To some it's rising and to some it's falling. It's getting so you can't say anything without some "expert" jumping in and trying to make you feel like an idiot for posting in the first place. Shit guys, all I did was make a simple graph to show the value of the RMB over the past few years. Excuse me for the misinformation.

 

Don't mind the armchair quarterback, RLS.

 

In history, the exchange rate of USD and CNY was once 1:11

 

There was also a point in history where cars had yet to be invented.

 

8.44% increase in value during the past seven years when compared to the dollar.

 

And over 9% increase going back 13 years.

 

From the Chinese viewpoint, it takes a lot less RMB to buy $100.

 

Exactly. And this very reason is why many expats in MNC's are opting for their salary in RMB. With the rising yuan and more facilities to legally exchange RMB for US$, getting paid in US$ is no longer a wise move.

[sawadee]

Due to the dropping of CNY, it costs the inflation in domestic market. All my friends back in China are complaining that everything cost more money.

[chilton747]

Due to the dropping of CNY, it costs the inflation in domestic market. All my friends back in China are complaining that everything cost more money.

I am hearing this from my wife as well.

[NUWORLD]

Due to the dropping of CNY, it costs the inflation in domestic market. All my friends back in China are complaining that everything cost more money.

I am hearing this from my wife as well.

 

Same here!

The wife and i just went shopping at a local chinese market

here in ohio and she told me we got much more food for the dollar than she would have in china.

[rogerinca]

Would you all please excuse me for this terrible blunder. I would think it all depends on where you're coming from. To some it's rising and to some it's falling. It's getting so you can't say anything without some "expert" jumping in and trying to make you feel like an idiot for posting in the first place. Shit guys, all I did was make a simple graph to show the value of the RMB over the past few years. Excuse me for the misinformation.

 

 

Ron, thank you for the graph and the information !!!

 

It is nice to see this info in graphic form like this.

 

I remember my first trip to China (Nanning) in early 2004; the rate was 8.28 at that time, and it made me feel pretty rich !! LOL

 

Now, I don't feel quite as rich money wise, but my life and heart are sure a lot richer !!!!

 

I hope you and Lao Po are doing great in the big SoCAl !!??

 

Again, thanks !!!

[RLS]

Sorry I got a little pissy. I had a rough night. Please forgive.