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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 414.47

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Jan 9 4:00 PM EST

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To: carranza2 who wrote (112938)	8/16/2015 1:09:11 AM
From: Snowshoe	3 Recommendations Recommended By carranza2 marcher Oblivious Read Replies (1) of 219238

Claim that recent yuan depreciation was result of increased transparency... Why Beijing Reformed Its Exchange Rate System Now: The move is China's way of telling the IMF – which is mulling adding the yuan to the Special Drawing Right basket – that it wants to cooperate english.caixin.com China has worked for years trying to have the yuan included in the SDR, which consists of four currencies, the U.S. dollar, the euro, the Japanese yen and the British pound. Success would put the yuan at least symbolically on par with these major currencies. On August 3, the IMF published a report titled Review of the Method of the Valuation of the SDR – Initial Considerations. The 64-page report addressed the issue of including the yuan into the SDR currency basket from various aspects. Under the section named Operational Issues, it says, "A market-based 'representative' RMB rate in terms of the U.S. dollar would be needed to value the RMB against the SDR. The representative rate is currently the onshore fixing rate … However, this rate is not based on actual market trades, and can deviate by up to 2 percent from the onshore market exchange rate. " In a sense, launching the exchange rate reform soon after the report went out was the Chinese government's way of saying it wants to be cooperative.

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