2010-08-31

Good thing I didn't change all my money into yuan

The renminbi is falling:
Yuan Set for Biggest Monthly Drop Since 1994 as Economy Slows
The yuan is headed for its biggest monthly loss since January 1994, after China’s government sought to support economic growth and the U.S. currency rallied.

The yuan has declined 0.5 percent so far this month, trimming gains since the central bank ended a two-year dollar peg on June 19 to 0.3 percent. The dollar index, which IntercontinentalExchange Inc. uses to track the greenback against the currencies of six major trading partners, gained 2 percent this month.

I've covered this topic or linked to articles arguing for a weaker yuan, including (most recent on top):
The yuan can drop
Yuan may begin moving again
Weaker yuan argument reaching wider audience
Perfect time for RMB to depreciate
Weak yuan arguments growing

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