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 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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