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Money Floats Slightly
| Autor | Nachricht |
  Joined: 2005-04-24 Points: 648 | China let the yuan become a little bit more expensive today. The exchange rate against the dollar rose to 1 USD - 8.11 yuan: http://finance.yahoo.com/currency/convert?from=USD&to=CNY&amt=1 Any Americans making money in China just got a 2% pay raise. |
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Aushang: Verfasst von 
Points: 748
Does this mean I get more OR less when I change $US dollars back RMB when I return to China next month?
Points: 648
Less. For example, if you were changing 100 US dollars to RMB today, you'd get slightly less RMB for your dollar than a week ago -- about 811 RMB instead of 828.
However, the RMB is floating within a fixed range against a basket of currencies, so if the dollar gets stronger this month against the other currencies in the basket, it's possible that you'll get a better rate when you do your exchange.
Points: 748
Thanks Wesley
It does not seem like I have much to be concerned about with respect to exchange rates when I return to China