Why can't they revalue to some nice number like ten or five. Dividing by six is too hard for me.
Why can't they revalue to some nice number like ten or five. Dividing by six is too hard for me.
Then convert to sterling.
I took out 3,000 yuan the other day. Cost $150 CDN more than it did a few years ago. My pension is shrinking!
Well as the Yuan falls your pension will increase, if your pension is paid in CDN. It's good news for you!
The rmb fell against the American Dollar. You may not see that benefit if you're not living off USD, since many currencies are under pressure against the strong dollar and weak commodity prices.
Yeah, you pound users are lucky, get to divide by ten.
it did not fall, it was pushed (devalued)
I use this site to get FX rates.
www.xe.com/currencytables/?from=CNY&date=2015-08-09
Note: the rate you get at the ATM is a lot lower. When I was hedging currencies the my broker quoted rates per "bit," or $1MLN USD or more.
You should see the difference, in day to day rates, at the ATM.
Every six months or so, I would check the cost of 1000 yuan at 3 banks: BOC, CMB and ICBC. I would get 1000 yuan from each bank within a half hour. Most of the time the cost was the same.
If you are long on Yuan, do something. There is no clue as to how much it will be allowed to slide.
Dividing by whatever, spare a thought: Just before the Beijing Olyimpics I was exchanging my RMB for 2000000000 to the ZM$.
it is now about 60
60 or 6.0?