China lets yuan break 7-per-dollar level for first time in over a decade

Re:China lets yuan break 7-per-dollar level for first time i... by rdtwo on Monday August 05, 2019 @02:41PM (#20617078)

This China has been propping up their currency in reality. They chose to let it float more and it instantly crashed. There it could go all the way to 8.4 ish if they let it fully free float.

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Re:China lets yuan break 7-per-dollar level for first time i... by seanmcdirmid on Monday August 05, 2019 @02:46PM (#20617144)

They float it but manipulate the price the way other countries do (buying/spending forex, interest rates, etc...). I doubt they it would crash all the way back down to 8 at this point (ah, to remember 1999 when it was 8.8), but it depends on how much money they’ve actually been printing to support their bubbly real estate market.

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Re:China lets yuan break 7-per-dollar level for first time i... by perl4ever on Monday August 05, 2019 @08:11PM (#20620699)

Is it really possible to change the value of a currency without constantly spending money on keeping it away from equilibrium? What I'm saying is, isn't it like extending a spring, where it's always going to go back to its natural state whenever you release it?

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