business

China announces sharp fall in value of yuan currency

19 Comments

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19 Comments
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and people still want to point the finger at Japan, there are very few that havent manipulated there currencey, at that goes for the biggest manipulator of the all the US Fed

9 ( +12 / -3 )

The yen was overvalued by 50 percent.

-2 ( +6 / -8 )

I think the sharp fall may have some to do with recent stock market crash. I still don't understand much of that event, maybe that was influenced by our culture.

0 ( +1 / -1 )

I don't know if the yen is falling at the same rate as the RMB or if the yen is pegged to it, but it's virtually unchanged against the RMB over the past month that I've been watching it.

3 ( +3 / -0 )

Offshore RMB traded in Hong Kong certainly crashed today v the yen.

http://zai.diamond.jp/list/fxchart/detail?pair=CNHJPY&time=1d#charttop

Usually it does whatever the US dollar does.

0 ( +0 / -0 )

China is doomed they have no concept of monetary handling its all steal spend steal spend and then point fingers away at another economy for their collapse.

1 ( +4 / -3 )

Hi xgai, that is a slight of hand devaluation of 1.925% against the $...

-1 ( +0 / -1 )

misunderstood

China is doomed they have no concept of monetary handling its all steal spend steal spend and then point fingers away at another economy for their collapse.

-You spelled "USA" wrong.

1 ( +3 / -2 )

Sorry fxgai finger trouble....in comparison to special draw rights basket of currency's the yuan looks as sick as a parrot. The economy is in dire trouble.

-1 ( +0 / -1 )

If you compare it to the drop of the yen it is nothing.

0 ( +1 / -1 )

Hi YuriOtani all APAC counties need to think greater economic union, pool their resources.

-3 ( +0 / -3 )

APAC could consider a single market, at present each has its own structural weaknesses holding back growth.

-2 ( +0 / -2 )

@itsonlyrockandroll

When the East-Asian countries need foreigners to fix their economies I'm sure they'll call you.

Seriously though, the US has less than 100 million full-time workers, the lowest since 1977. However, if anyone criticizes America the ethno-centrists come out and state how perfect and infallible America is.

1 ( +2 / -1 )

China has no choice but to liberalize more its currency if it wants their currency to be used more in global transactions as a reserve currency. Global markets prefer currencies that move with the markets.

1 ( +1 / -0 )

Let them manipulate all they want. It is a useless currency to hold on to due to the over control of it.

0 ( +1 / -1 )

The only entity that can fix the economy is China finance ministry and the Bank of China, exposure to Chinese equities externally is minuscule. All this turbulence, harms confidence that Government of China effort or claims to liberalize there economy are viable. Retail investors will take flight, a situation that is uncontrollable.

To bully state run entities/utilities to prop up stocks is fundamentally counterproductive. NSB has CPPI falling 5.4% year to July, FGP have fallen for 40 consecutive months. The evaluation was inevitable.

-1 ( +0 / -1 )

This "devaluation" is no big deal. It's just China ceasing to peg their currency so tightly to the US dollar.

Versus the yen the Yuan is way stronger than it was (because it has been pegged to the strengthening dollar) http://zai.diamond.jp/list/fxchart/detail?pair=CNHJPY&time=1mon#charttop

The Yuan should move on the merits of the Chinese economic situation, and with the Chinese stock market bubble exploding recently it's not such a strange thing that their currency would go downs a bit.

0 ( +0 / -0 )

wtf: and people still want to point the finger at Japan, there are very few that havent manipulated there currencey, at that goes for the biggest manipulator of the all the US Fed

Neither the US nor Japan are mentioned in the article, just China.

0 ( +0 / -0 )

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