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Sign up with Google Sign up with FacebookQ: The USD/RMB exchange rate just changed
It's now 6.31 RMB to 1 USD. Does that mean we all just got a pay raise...or will it even itself out by everything going up in price here?
12 years 38 weeks ago in Money & Banking - China
Probably the later choice. I mean we do owe China trillion of dollars and I just heard something about we weren't gonna pay back. If that is the case the rate would probably change, but not in a good way for the USD.
The rate has been around 6.3 for a few months now, revolving around 6.39 down to 6.31.
According to economists, the Rmb should appreciate in nvalue vs dollar another 20 to 30 %, inn the near future we will see an exchange rate somewhere in the high 4 or low 5 range. Near future should be around 2 to 3 years.