Woowwww Chinese Yuan appreciated %5 in one day!!!!

Discussion in 'Economics' started by misterno, Apr 21, 2011.

  1. Epic


    Hmmmm... Don't you mean 0.5%?
  2. get used to it around here....
  3. Sorry you are right

    I was so excited

    but anyhow that is huge

    I guess oil prices will go up more and more due to Chinese' increasing purchasing power in international markets
  4. Bob111


    yesterday USD drop was X2 more than that..
  5. USD drop against what?
  6. Bob111


  7. Epic


    A 0.5% appreciation is not huge in a currency that everyone knows has been deliberately depreciated for many years. Everyone also knows that they are deliberately allowing a controlled appreciation now.

    Many are of the opinion that 50% gain would barely start getting close to the natural price of a floating RMB.
  8. Oil is going to get cheaper and cheaper for China, Do you want China to get cheap oil?
  9. That is exactly my point

    Coal, LNG and oil is getting cheaper and cheaper for Chinese, that means their consumption will skyrocket or even worse, it will accelerate.
    #10     Apr 21, 2011