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CNY?
Posted on 6/28/10 at 11:11 am
Posted on 6/28/10 at 11:11 am
One of the items to come out of the G20 was that China was going to allow the Renminbi to be re-valued after the Chinese government has been holding the value down for years. Good long-term investment or will the ChiComs never get around to doing it?
3
Posted on 6/28/10 at 7:37 pm to Bard
No one has any thoughts on this? 
This post was edited on 6/28/10 at 7:38 pm
Posted on 6/28/10 at 8:32 pm to Bard
They announced the decision to let it float 2 or 3 weeks ago (well before the G20), and the announcement has overwhelmingly been dismissed as more words than action (based on the fact that it has indeed been more words than action, up to this point). The rate at which they're intending to let it float is so low that its basically a floating collar more than anything.
Posted on 6/28/10 at 9:57 pm to kfizzle85
That would explain it. Thanks :)
Posted on 6/28/10 at 10:15 pm to Bard
quote:
No one has any thoughts on this?
I'm predicting a major devaluation of the CNY in the next 3 years.
Posted on 6/28/10 at 10:54 pm to Bard
I expect to see only 3% CNY appreciation against the dollar by year end and 5% NTM. The last thing the PBOC wants is this thing taking off.
Posted on 6/29/10 at 10:03 am to Bard
quote:
CNY
Not the same without Stephen Stills IMHO.
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