🥹 Sangxin, the offshore RMB exchange rate has broken 7, returning to the 6 range. Today remains a day to hold and wait for a decline! —
At the beginning of the year, with an exchange rate of 7.35, 7.35 million RMB could be exchanged for 1 million USD;
If you had deposited into a USD fixed deposit with an annual interest rate of 4%, you would have 1.04 million USD after one year;
Now, with the RMB appreciating to 7.05, 1.04 million USD exchanged back to RMB is 7.332 million, resulting in a loss of 18,000 RMB after a year of trading.
This year's keywords: stocks, bonds, forex, cryptocurrencies,
View Original