Re: Chinese RMB rates..
 

china will need to adjust the yuan value upwards ....
it's not a choice but necessity ...
they will need to do it gradually over the yrs so that it will not affect their economic ....

Re: Chinese RMB rates..
 

Chinese RMB getting stronger by the day.

A few years ago, it was 5.00+,.....then 4.90+ a year later.
Now, 4.80+......very soon it will 4.70+ liao.:(

Lesson : Go China cheong while it lasts.....:p

Re: Chinese RMB rates..
 

Online forex rate now @ 4.90

PPC still @ 4.82

Re: Chinese RMB rates..
 

Just wondering can we go to Back of China and change for RMB? I saw the website saying they will use the current day exchange rate, where i think, should be better than money changer. Can anyone advise? Thanks.

Re: Chinese RMB rates..
 

Remittance agent quoted 4.88 over the phone.

Should be able to get at least 4.8850 if goes down People Park and bargain a bit. ;);)

Re: Chinese RMB rates..
 

I think it's very funny how people go and exchange rmb for investment.

The yuan won't appreciate in a drastic way within short period of time.

Who benefit from all those speculation? the money changer lah.

Re: Chinese RMB rates..
 

Today passed by J8 Money Changer.

RMB - 4.77.....:(

Re: Chinese RMB rates..
 

Online forex rate now @ 4.94+

any updates on remittance & ppc rate?

Re: Chinese RMB rates..
 

Exchange rate in ppls park today 2pm is 483

Re: Chinese RMB rates..
 

I guess the price havent caught up with the forex price yet.

SGD +1% + against RMB , expects to go higher even

Probly good to wait a few days for the price to catch up.

Now Forex is @ 4.96, waiting to remit @ 4.925+

Re: Chinese RMB rates..
 

PP Remittance rate is 4.9150 over the phone.

Re: Chinese RMB rates..
 

bro coolman , wait till 4.98 then will be the good time :p

Re: Chinese RMB rates..
 

Really?? I monitor for last 1 year also never see this rate.....
If really hit, I "showhand" liao. :p

Re: Chinese RMB rates..
 

show hand ? ........play big liao !
bro coolman always do that ;)

Re: Chinese RMB rates..
 

wah..bro, b4 u showhand, let us know first, otherwise u bring the rate down ah.. :D

Re: Chinese RMB rates..
 

Haha....small amount only lah. There is only one Bro here who can do "Showhand" and bring the rates down............the CASH KING.......:D

Re: Chinese RMB rates..
 

are u refering to adidas aka the cash king
yaya , and coolman too

once they show hand, US will laugh , exchange rate will drop till 4.5
so better change before they action


:p

Re: Chinese RMB rates..
 

Wow you are the FX expert is it? :rolleyes::eek: But why yr target so modest this time?

Let me ask you; in the tortoise vs the hare race, who always win eventually? :p:p

Re: Chinese RMB rates..
 

Today PP remittance rate quoted over the phone is 4.9400

Below is Goldman prediction for it worth.........but there is no reason to believe they would be more accurate than that of our resident expert GTO hahhaha

April 14 (Bloomberg) -- Goldman Sachs Group Inc.’s chief global economist Jim O’Neill said China may strengthen the yuan by between 2 percent and 5 percent as early as next week.

O’Neill said in an interview that trading in local currencies among Brazil, Russia, India and China -- to be discussed at a heads-of-state summit of so-called BRIC nations this week in Brasilia -- won’t work because of China’s use of a dollar peg to manage the value of the yuan.

“It’s all semantics to talk about trade in local currency unless they do what the rest of world wants them to, which is provide more freedom to use these currencies,” O’Neill, 53, said from London. “The consequences of Chinese policies are increasingly seen by everyone, including the BRICs.”

Pressure on China to end the yuan’s peg is building as BRIC leaders get ready to meet this week to discuss boosting trade in local currency and coordinating positions on reforming the international financial system after the global credit crisis. Chinese President Hu Jintao, who arrives in Brasilia tonight from the U.S., told President Barack Obama yesterday that China won’t bow to pressure after the U.S. leader urged the Asian country to adopt a “more market-oriented exchange rate.”

Twelve-month non-deliverable yuan forwards rose 0.2 percent to 6.6225 per dollar as of 12:27 p.m. in New York, according to data compiled by Bloomberg. The contracts reflect bets the currency will strengthen 3.1 percent from the spot rate of 6.8258.

Stronger Yuan

O’Neill, who in 2001 coined the term BRIC to describe the four large, fast-growing economies, said he was pushing up his forecast for a stronger yuan from the end of the year because it is increasingly obvious the currency is undervalued.

“If the U.S. Congress hadn’t been so noisy about this in the past month, it probably would have already happened,” said O’Neill, who has discussed the distortions caused by the dollar peg with Chinese officials in visits to Beijing. “It just makes an enormous amount of sense.”

China’s exchange rate policy is “a particularly big challenge for Brazilian” manufacturers as the country seeks to reduce its reliance on commodity exports, O’Neill said. China surpassed the U.S. as Brazil’s biggest trading partner last year, as exports of iron-ore and soy rose during the global recession while manufacturing sales to the U.S. declined.

Still, even as the countries disagree over how to manage their currencies, he expects no tension or public criticism of the yuan’s peg when Brazilian President Luiz Inacio Lula da Silva hosts his Russian, Indian and Chinese counterparts.

Instead, the second meeting for leaders from the four nations will seek to find common ground about ways to reform the International Monetary Fund, United Nations and other international institutions.

“Being Mr. BRIC, of course I’m flattered these guys now meet together, but beyond all being large economies what else can they really do collectively,” O’Neill said. “This summit is a very powerful symbol of how hopeless international organizations have become.”

To contact the reporter on this story: Joshua Goodman in Sao Paulo at [email protected]

Re: Chinese RMB rates..
 

wah .. liddat better start remitting now before rmb gets stronger ... :)

Re: Chinese RMB rates..
 

People's Corner, The Arcade

Time : 1730 hrs
Rate : 4.865

Re: Chinese RMB rates..
 

bro coolman , wat u waiting for
show hand liao , let me know early one day ok
if not the market will drop and affect my 10 yuan:D

Re: Chinese RMB rates..
 

The Singapore $ gain over the RMB is very impressive over the last few days as can be seen in the chart below :



http://www.x-rates.com/d/CNY/SGD/graph30.html

Re: Chinese RMB rates..
 

Haha..... Many of us already written them off long time ago....

Even the 24hrs Mustapha rate is better than these "two" con Money Changers...

It's definitely NO NO NO to them....

Re: Chinese RMB rates..
 

online forex @4.971, think will hit 5 soon

any update in remittance rate?

Re: Chinese RMB rates..
 

So optimistic?? :)

Today pass by J8 Money Changer

RMB - 4.85

Slow to catch up.......:(

Re: Chinese RMB rates..
 

the one next to china mrt sttn offer 4.87

Re: Chinese RMB rates..
 

wow, our mrt reaches china a? how much is the fare? how long is the trip? :D

Re: Chinese RMB rates..
 

Remit Rate - 4.936

Re: Chinese RMB rates..
 

then what r u waiting for ??? :D