rogerluli Posted January 1, 2008 Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... Link to comment
Shenzhen K-1 Posted January 1, 2008 Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! Link to comment
yaya44 Posted January 1, 2008 Report Share Posted January 1, 2008 we asked for a more floating currency exchange...that's what we get. Link to comment
rogerluli Posted January 1, 2008 Author Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! And my wife ONLY expects me to work until I'm 70... Link to comment
chilton747 Posted January 1, 2008 Report Share Posted January 1, 2008 Best get your RMBs soon!!!! Link to comment
rogerluli Posted January 1, 2008 Author Report Share Posted January 1, 2008 Best get your RMBs soon!!!! Ah yes my point exactly Charles... Link to comment
lostinblue Posted January 1, 2008 Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! And my wife ONLY expects me to work until I'm 70... Your wife will allow you to retire wow Link to comment
rogerluli Posted January 1, 2008 Author Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! And my wife ONLY expects me to work until I'm 70... Your wife will allow you to retire wow Link to comment
Shenzhen K-1 Posted January 1, 2008 Report Share Posted January 1, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... B) a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! B) And my wife ONLY expects me to work until I'm 70... Your wife will allow you to retire wow More then likely not, can I borrow a few bucks?? Link to comment
Guest Mike and Lily Posted January 3, 2008 Report Share Posted January 3, 2008 Best get your RMBs soon!!!! China has made that process a lot more difficult than it used to be. Link to comment
MikeandRong Posted January 3, 2008 Report Share Posted January 3, 2008 As of right now, delayed 15 minutes of course. RMB/USD 7.2683 Link to comment
griz326 Posted January 3, 2008 Report Share Posted January 3, 2008 One world government will equalize all things. There was a post from Roger recently that talked about the rise of China and while the excellent article never said "one world government," it talked about FDR and his planning for world order... And that is not meaning one world government in a paranoid, conspiratorial way... Maybe I'll convert $10k USD into a Chinese CD while I am there at Spring Festival. Link to comment
Yuanyang Posted January 3, 2008 Report Share Posted January 3, 2008 One year ago the RMB-USD exchange rate stood at 7.80. As 2007 ended the $ had slid to 7.30... a 6.8% drop for the greenback...A similar drop is forecast for 2008 when the exchange rate is expected to reach 6.80...Banks in China are paying 4.1% for 1 year deposits...6.8% + 4.1% = 10.9%... OUCH!! There goes my retirement plan, Oh well do not mind working until I am 84!! You can retire at 84!?? Dayum, you must be saving every penny. My retirement plan is to die at work. Then! Maybe then, she'll realize that I don't have money stashed away. Link to comment
rogerluli Posted January 3, 2008 Author Report Share Posted January 3, 2008 As of right now, delayed 15 minutes of course. RMB/USD 7.2683 We sent $$ a month ago and the rate was 7.36 and laopo was all upset that it cost us $40 for the wire transfer... but in fact in the dollar drop from just 7.36 to 7.26 we already made nearly 7 times that fee already... Link to comment
Shenzhen K-1 Posted January 3, 2008 Report Share Posted January 3, 2008 As of right now, delayed 15 minutes of course. RMB/USD 7.2683 Ouch by the time I go in March it will be on par!!!!!!!!!! Link to comment
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