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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: Archie Meeties who wrote (60731)2/6/2010 3:54:35 AM
From: elmatador  Read Replies (2) of 217792
 
the Chinese currency is undervalued by 25 to 40% compared to the USD and other currencies. The gap is wider than at any time since July 2005, when the Chinese government, under pressure from the Bush administration, decided to do away with the renminbi’s peg to the dollar and allow the currency to float in a narrow band against the dollar and other currencies.

The renminbi appreciated 21 percent, but since July 2008 it has remained at the same value — today, one dollar equals about 6.83 renminbi, also called the yuan.

nytimes.com
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