| Major currencies change affects your life? | |
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| Apr 22, 2008 04:01 |   |
 | Recently, RMB and US dollar experienced contrastive changes. RMB continues appreciating its value: wheras US dollar has been devaluing. The appreciation of a country’s currency has a significant influence on its export and import. As ordinary people, is the appreciation/depreciation of one currency affecting your life? Specificallly, is the continuous deprecition of US dolloar against other currencies affecting your personal lives? Is the consecutive appreciation of RMB against other major currencies deeply affecting you personally? (Your salary, living standard,etc.) |
| Apr 22, 2008 11:01 | #1 |
| For the moment, I am unaffected by the value of US currency. It is when I drive many miles, go to Canada or travel to China that I feel the pinch. |
| Apr 22, 2008 11:03 | #2 |
| The appreciation of the RMB is really quite small. Sure it has an effect on the prices of imports and exports, but it is less of an issue than the speed of China's development which is a major factor in world inflation. In China inflation is now running in excess of 8% pa. If the workers do not get payrises to compensate they will be poorer. This will hurt tem more than the variations in the exchange rate. In my case I have been hurt by the appreciation in the Australian dollar: it has appreciated faster than the rmb. This means any savings I manage to make are reduced. The US dollar: haha, a third world currency from now on. The best thing to do with it is unload it as fast as you can. |
| Apr 22, 2008 21:43 | #3 |
| It is not good that RMB continues appreciating its value, it will cause inflation. And now, commodity prices get higher and higher in china. But as i know, staff in many companies don't get the pay rises. |
| Apr 22, 2008 22:05 | #4 |
| >>The appreciation of the RMB is really quite small? Apault, do you really think the appreciation is small? IMHO, both the appreciation and inflation are not small at all. To the original topic, yes, my life has been affected by the appreciation of RMB since the goods price continues hiking. Although the appreciation doesn't affect my life to a noticeable extent, it does really affect the daily living of ordinary Chinese like me. Just as ALICIAYIYI said, "staff in many companies don't get the pay rises. " |
| Apr 23, 2008 23:37 | #5 |
| the high price of minerals, oil is attributed to the development of of china and india (Canadian currency has been sustained hard because of its unique mining industry that is getting benefits from development of china. And development of china does trigger the inflation global wide (flour price increased in canada) Appreciation of chinese Yuan is not as fast as we expect. And U$ change does count. One friend of mine exchange c$ to U$ for investing U$ equity. the gain 5% in stock mkt cancle out 5% loss in forex. Hah, this is trade off. |
| Apr 24, 2008 00:17 | #6 |
| Not at this time, but I just hate to pay over $50.00 to fill the gas tank, It used to be around $30.00 not that long ago. As I go to china, I cannot buy the same for the money; have to spend more to get the same. |
| Apr 28, 2008 22:27 | #7 |
| American people have also been afftected by dollar depreciation. As the news reports, a lady who traveled in Europe was surprised to see the dollar depreciating so fast when she came to the bank to change some dollars into Euros. I wonder if our American fellows on this forum are suffering from the dollar depreciation. |
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