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Sometimes ago I posted an question about the US/RMB black market exchange rates from 1988-94 on an overseas Chinese website at a suggestion of a friend. So far I have four replies, three are in English and one in Chinese. The replies are here "1:8.2? " "as i recall, the black market...

I agree that this is a highly informative thread and thank you for digging out the paper. For the benefit of further discussion and for the convenience of other viewers, can we agree on the following points discussed so far? 1.There were two exchange rates in China, one official and one...

trefoil: thanks for digging this out. Given that this was the black market rate, a change from 8.5 to 8.3 is not a big event.

You'd better re-read the paper and the posts of mine and trefoil's. It should not be too difficult to figure out.

Please, do yourself a favor. Don't lower yourself into a thug if you are not one already. The fed research paper already showed that there was no such thing as "50% devaluation on Jan 1, 1994". Instead, it claimed that there was, maybe, or, possible, a 40% decline in the black markt exchange...

Again, please ask a Chinese from mainland China about the actual exchange rate prior to 1994 if you know one, instead of blindly believing some fed reserchers in SF whose experience with RMB, if any, was probably only with the official exchange rate. Anecdotal evidence is still better than...

Funny you seem to have ignored the word "unified" in the sentence. It is clear from the article that there were two exchange rates, one "official" and one actual, before 1994. The "official rate" at the time only applied to foreign tourists to China who wanted to exchange US $ into RMB at...

So funny. I knew this because I visited China in 1988 and 1995. Both times at Bank of China you could exchange 1 US dollar for 8.7 RMB, but in the black market you could exchange 1 US dollar for 9.0 RMB, since at that time no one wanted to hold RMB. I just asked a Chinese friend of mine and...

Oops. I forgot that I have less money than he, so I should consider him my god. In any case, I don't know whether the article was really written by HIM.

OK. Suppose it did happen. So on Jan 2 1994, 1 US dollar = 2*8.7 or 1US dollar = 16 RMB? If so, the RMB must have been apreciated more than 50% since 1994 so that now 1 US dollar= 6.7 RMB. If you cannot follow my calculation, show me yours.

It seems that this article was written by a Indian politician in the interest to promote Indian stock market , not by a American trader. And some of the facts are obviously wrong. For example, this one "On Jan 1, 1994, China devalued its currency by 50% in a single day" OK, in 1989, 1...

20 yr. ago, one US dollar = 9 yuan 15 yr. ago, one US dollar = 8.7 yuan 10 yr. ago, one US dollar = 8 yuan 5 yr ago, one US dollar = 7 yuan now, one US dollar = 6.7 yuan draw your own conclusion who is trying to start the currency war.

good catch.

if south korea cannot convince its own people, how can it convince China to take its side?

NY has already peaked, while Shanghai is rising. Only time will tell when their paths cross.

Toyota is guilty of surpassing the Government Motors in sales and no wonder it is in such a deep trouble.

what do you want to know?

good thread.

It's quite obvious that US Fed wants to destroy Toyota.

You buy a German car for 30K, and spend 2k per year in repairs.