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Chinese Yuan (RMB)

Hi,

If you have idle funds, is it better to convert your Peso to RMB?

What does it mean when they say the RMB is undervalued?

If it is no longer pegged to the USD, does it mean you'll need less RMB to buy a dollar and more Peso to buy an RMB?

Comments

  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    It means that the CNY (ISO 4217 Code) needs to appreciate against the US dollar. Some Americans argue that the PRoC has undervalued its currency to make its exports cheaper.

    Note that the PRoC has foreign reserves of $2.6T and is one of the largest holders of US gov't debt (eg. bonds).

    I don't think the PRoC will easily be pressured to let its currency appreciate. Any appreciation will also directly affect the Philippines.
  • BeerhandBopBeerhandBop PEx Influencer ⭐⭐⭐
    the chinese government purposely devalues the rmb kasi and keeps the exchange to roughly the same all through out.

    so yes, pagtumaas ang value nun against the usd, edi tataas din ang conversion nun with the peso.

    also keep in mind that the americans are spening money borrowed from China. they couldn't do ***** about tianamen square massacre, and they won't be able to do ***** if China decides to have it's nation decend upon whomever that wishes to battle in the shade.
  • The ProfessorThe Professor PEx Veteran ⭐⭐
    Just wondering, why has the Peso-CNY exchange been improving lately? Last month, it was P6.67 = 1 RMB. As of Friday, it went down to P6.49 = 1 RMB.

    Shoudn't it go the other way around? I was thinking it should be moving closer to P7 instead of P6 per RMB.
  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    Just wondering, why has the Peso-CNY exchange been improving lately? Last month, it was P6.67 = 1 RMB. As of Friday, it went down to P6.49 = 1 RMB.

    Shoudn't it go the other way around? I was thinking it should be moving closer to P7 instead of P6 per RMB.

    CNY/PHP & USD/PHP One Year Chart
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    CNY/PHP & USD/PHP Three Month Chart
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  • The ProfessorThe Professor PEx Veteran ⭐⭐
    metropolitan, could you interpret? Thanks.
  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    metropolitan, could you interpret? Thanks.

    it just means that there is a correlation between the CNY-PHP & USD-PHP.

    eto pa: CNY-PHP, USD-PHP, USD-CNY

    3 months
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    1 year
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  • The ProfessorThe Professor PEx Veteran ⭐⭐
    You wouldn't advice buying CNY over Peso?
  • BeerhandBopBeerhandBop PEx Influencer ⭐⭐⭐
    "Just wondering, why has the Peso-CNY exchange been improving lately? Last month, it was P6.67 = 1 RMB. As of Friday, it went down to P6.49 = 1 RMB."

    conversion doesn't go straight from RMB to peso

    it goes RMB to USD to Peso. which means the rate relies heavily on the USD's value.

    keep in mind, historically - the usd will depreciate against the peso during election season.. then appreciate again once everything's settled.
  • Hi metropolitan! when is the right or nearly perfect time to convert the CNY to peso? any forecast for this year when it will again appreciate? i have some chinese yuan. Anyone wants to trade to peso? Thanks.
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