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01.09.2013

1 rmb to usd, muscle and fitness workouts - For Begninners

Author: admin
Unless circumstances change, then, the argument for further RMB appreciation is somewhat weak. For this to change, foreigners would need to have both a reason and the opportunity to hold RMB assets. I have always been cynical about China’s forex policy, on the basis that it is self-interested and disingenuous, and I think the fact that it remains pegged to the USD confirms that sentiment.
At 5.4%, inflation is officially nearing a 3-year high, and there is evidence that the PBOC already recognizes that allowing the RMB to keep rising represents its best tool for containing this problem.
Moreover, for a handful of reasons, it looks like China will continue allowing the RMB to appreciate at the same steady pace for the foreseeable future. The reason would come from a reversal in China’s balance of trade, and the use of RMB to pay for the excess of imports over exports, which would naturally imply a willingness of foreign entities to accept RMB.


It is seen as an ally to financially troubled countries, while its efforts help to keep the Euro buoyant, relative to the RMB.
It must raise interest rates and accept the continued appreciation of the RMB is an unavoidable byproduct.
During that time, its Central Bank has accumulated more than $2.5 Trillion in foreign exchange reserves in order to prevent the RMB from appreciating. For this to change, China would have to embrace the kind of reforms that go way beyond allowing the RMB to fluctuate, and strike at the very core of the CCP’s stranglehold on power in China. In addition, the Central Bank has no choice but to continue buying Dollars for as long as the RMB remains pegged to it. On numerous occasions since supposedly allowing the RMB to appreciate, it has intervened in the forex markets through various shadow dealers to prevent this very outcome.


By extension, many of these economies feel they have no choice but to intervene daily in forex markets to prevent their respective currencies from appreciating faster than the RMB.
For that reason, I think China will probably continue to stick its current policy, and allow the RMB to continue to slowly inch up. More than two months have passed since China revalued its currency, and after a rapid 1% appreciation, the RMB has actually fallen back.
Hence, the US probably isn’t hurting as much from the weak RMB to the extent that some lobbyists insist.



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