Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (35498)	6/29/2003 9:58:53 AM
From: Ilaine	Read Replies (3) of 74559

It was recently reported that mental stimulation prevents Alzheimer's. I wonder if foreign exchange trading is good for the brain. Bet it probably is. Maybe somebody can help me out with this - if the dollar/RMB ratio changes, does one side see it as devalue and one side see it as revalue? I am reading that the RMB is pegged at 8.2770 to the dollar but futures trading suggests that under free market it would "strengthen" to 8.1620 to the dollar. That means fewer RMB to the dollar, more dollar to the RMB. The rest of Asia wants China to make Chinese goods more expensive to America, which makes American goods cheaper to China (not that they're going to buy much made in America). In the meantime as the dollar falls, RMB falls, which keeps Chinese goods cheap in Asia and Europe. Good for the Chinese. Why should they change? And why don't financial news reports use RMB anymore? I thought that was the official name for the yuan?

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