N&J Posted February 14, 2008 Report Share Posted February 14, 2008 Got this off the AP The yuan's value against the dollar, set at 7.1890 Thursday morning, has risen by just over 11 percent since July 2005, when China revamped its foreign exchange system, revaluing the currency by about 2 percent. The $ lost at last 7 cents since January. Take extra next time your in China Link to comment
Corbin Posted February 14, 2008 Report Share Posted February 14, 2008 Got this off the AP The yuan's value against the dollar, set at 7.1890 Thursday morning, has risen by just over 11 percent since July 2005, when China revamped its foreign exchange system, revaluing the currency by about 2 percent. The $ lost at last 7 cents since January. Take extra next time your in China The title of your post made me think you lost your wallet......... Link to comment
N&J Posted February 14, 2008 Author Report Share Posted February 14, 2008 I did but not literally Sent my SO so cash so she can use it for the CNY and it didn't end up as much. maybe by 2010 5 rmb to $1 Link to comment
Shenzhen K-1 Posted February 14, 2008 Report Share Posted February 14, 2008 I did but not literally Sent my SO so cash so she can use it for the CNY and it didn't end up as much. maybe by 2010 5 rmb to $1 Nate do not jinx my retirement fund!!! I sent the Mrs. her cash also, did not go as far!!! B) Mark and feng! B) Link to comment
Tony_onrock Posted February 15, 2008 Report Share Posted February 15, 2008 I am waiting for a chance to dispose of my HK stocks and convert all to RMB and invest in China. ouch on the losses, almost half a mil taking into account of the currency loss as well. Link to comment
rogerluli Posted February 15, 2008 Report Share Posted February 15, 2008 I did but not literally Sent my SO so cash so she can use it for the CNY and it didn't end up as much. maybe by 2010 5 rmb to $1 Nate do not jinx my retirement fund!!! I sent the Mrs. her cash also, did not go as far!!! B) Mark and feng! Not going below 6... you can BANK on that... Link to comment
rogerluli Posted February 15, 2008 Report Share Posted February 15, 2008 I am waiting for a chance to dispose of my HK stocks and convert all to RMB and invest in China. ouch on the losses, almost half a mil taking into account of the currency loss as well. Tony do you happen to know how/why the HK dollar says the same as always while the RMB goes up??? Link to comment
N&J Posted February 18, 2008 Author Report Share Posted February 18, 2008 I did but not literally Sent my SO so cash so she can use it for the CNY and it didn't end up as much. maybe by 2010 5 rmb to $1 Nate do not jinx my retirement fund!!! I sent the Mrs. her cash also, did not go as far!!! Mark and feng! Mark, It sucks.Saw on Bloomberg today RMB is now 7.16 and the one year futures contract is 6.5795 or by this time next year expect 6.58 RMB to the $. Link to comment
Guest Tony n Terrific Posted February 19, 2008 Report Share Posted February 19, 2008 I did but not literally Sent my SO so cash so she can use it for the CNY and it didn't end up as much. maybe by 2010 5 rmb to $1 Nate do not jinx my retirement fund!!! I sent the Mrs. her cash also, did not go as far!!! Mark and feng! B) Mark, It sucks.Saw on Bloomberg today RMB is now 7.16 and the one year futures contract is 6.5795 or by this time next year expect 6.58 RMB to the $.The Bank of China gave me 7.1692 to the $ yesterday (Monday) and charged me a commission fee of $3.75 on the $500 transaction I made. A Chinese guy told me that the dollar has lost over 13% the last 2 1/2 years vs the RMB. Probably the Bloomberg report is going to be accurate unfortunately for us who are going to be going to China. Link to comment
Guest Mike and Lily Posted February 19, 2008 Report Share Posted February 19, 2008 I am waiting for a chance to dispose of my HK stocks and convert all to RMB and invest in China. ouch on the losses, almost half a mil taking into account of the currency loss as well. I hope you have lots of friends and relatives you can trust. Since one person can only legally convert $50K per year, it's going to be a little tricky. Link to comment
N&J Posted March 3, 2008 Author Report Share Posted March 3, 2008 Yuan at new hightoday 7.111 to $1 lost another 5 cents since February 16. Link to comment
thewaitiskillingme Posted March 3, 2008 Report Share Posted March 3, 2008 Last week I bought an insurance policy at the money exchange in HK. For 4 USD, I got a guarantee to get all my investment money back. It was short term, but it was insurance nonetheless. Yuan at new hightoday 7.111 to $1 lost another 5 cents since February 16. Link to comment
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