Re:Yuan falls to 11-year low
by jonathankoren on Thursday August 22, 2019 @07:21PM
(#20773273)
I understand how exchange rates work. What I’m confused about is claim that this is an eleven year low.
The article claims an exchange rate of 7.0391 CNY to 1 USD is an eleven year low, yet the 52 week range is 6.6704, and the five year low is below 6.2976. Typically, these charts show closes rather than intraday ranges, which further ads confusion about the claim.
Re:Yuan falls to 11-year low
by locust101 on Thursday August 22, 2019 @07:35PM
(#20773359)
Calling it lowest ever means that you can get more yuans than ever in 11 years for 1 dollar. If you look at the chart, it clearly shows that this is the maximum yuan amount you can get for 1 USD in at least 5 years.
The article claims an exchange rate of 7.0391 CNY to 1 USD is an eleven year low, yet the 52 week range is 6.6704, and the five year low is below 6.2976. Typically, these charts show closes rather than intraday ranges, which further ads confusion about the claim.