The place to ask China-related questions!
Beijing Shanghai Guangzhou Shenzhen Chengdu Xi'an Hangzhou Qingdao Dalian Suzhou Nanjing More Cities>>

Categories

Close
Welcome to eChinacities Answers! Please or register if you wish to join conversations or ask questions relating to life in China. For help, click here.

By continuing you agree to eChinacities's Privacy Policy .

Sign up with Google Sign up with Facebook
Sign up with Email Already have an account? .
Posts: 4431

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Q: What are you gonna do about this Exchange rate (USD)?

Wow, my my my 100 RMB = 14.63 USD.

If you're traveling to America, OUCH!

If you have a U.S bank with dollars or you have U.S dollars will you shop it back to China?

What's your plan or thoughts on this exchange rate drama?

2 years 11 weeks ago in  Money & Banking - China

 
Answers (6)
Comments (2)
Posts: 1304

Shifu

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

exchange as much of my USD to rmb now, hold my RMB for use in China only. 

Report Abuse
2 years 11 weeks ago
 
0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

This is going to be a wild ride this year, currency speculators are going to prosper or die this year.

Report Abuse
2 years 11 weeks ago
 
Posts: 4431

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

As for myself, I'll use my American credit card here for awhile to take a sideways advantage of this exchange rate, I'm not charged any interest if I pay before the deadline and fees are just 1.65

Report Abuse
2 years 11 weeks ago
 
Posts: 4584

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I suppose it comes down to a judgement call. Will the exchange rates improve or just get worse? How long do you have, can you afford to wait it out and hope they'll improve again?

 

If you're settled in China and plan to be there reasonably long term, I'd be tempted to hold on to your RMB until Trump is gone and hopefully relations - and the exchange rate - improve.

 

If you're there short term I think I'd be converting everything I could now before the exchange rate gets worse. This trade war looks like it will be drawn out and messy for both sides - and exchange rates.

 

 

Report Abuse
2 years 11 weeks ago
 
Posts: 3046

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

I have been following the rate of exchange forecasts for CNY (Chinese RMB) for about a year now. It is not a crystal ball, wrong many times, but at least gives me a guideline. If three or four say it goes up, then I look for it to go up to plan bringing US dollars here. Since the trade war started, they have forecasted that the yuan would loose value as a way for the local Government to fight higher import duties. In late May, when the exchange rate was between 6.1 and 6.3, they forecasted 6.7 in July and 7.04 by late August and early September.
WILL IT GET THERE? We will know in September.
Anyway, they also claim this is temporaty, they forecast the rate to fallto maybe even just under 6 by year end. If yoiu have Rmb and need dollars, now is noit a good time to do the exchange. But if you want Rmb anbd have dollars, follow the market and make the exchange when it hits 7, if it does it.

Report Abuse
2 years 11 weeks ago
 
Know the answer ?
Please or register to post answer.

Report Abuse

Security Code: * Enter the text diplayed in the box below
Image CAPTCHA
Enter the characters shown in the image.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <img> <br> <p> <u>
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
  • Textual smileys will be replaced with graphical ones.

More information about formatting options

Forward Question

Answer of the DayMORE >>
A: Going to HK would be the best bet I reckon, especially if you were loo
A:Going to HK would be the best bet I reckon, especially if you were looking for a church wedding. Chinese weddings are pretty grim IMO - you go to a barren govt dept with souless officials and navigate red tape so some guy can give you a red stamp and a marriage book. You get expensive pictures taken of you both posing in places you'd never go to in everyday life that is somehow supposed to represent your wedding, then a while later it's off to a restaurant where a game show host kind of guy makes sure it's as tacky as possible while the guests eat as fast as they can so they can leave as soon as they finish eating and gave you money. Hell, I'd go to Thailand or the Philippines and get married in Paradise.   -- Stiggs