- WallStForMainSt Published on Aug 25, 2019
The Dollar Yuan Exchange rate continued to show a weaker Chinese Yuan/RMB as it got as high as 7.1466 Yuan to the US Dollar on August 26, 2019. The chart in the video is one scary chart especially after the Yuan broke 7! Dollar Yuan Exchange Rate – 35 Year Historical Chart https://www.macrotrends.net/2575/us-d…
Has China’s central bank, the People’s Bank of China (PBOC) given up trying to defend its currency? A much weaker Yuan could mean many Chinese want out of the currency (capital flight) or much higher food prices. And China is already suffering from much higher food prices according to data from China’s own National Bureau of Statistics. Finally, do you agree with Kyle Bass’ thesis that China’s dollar peg will eventually break and that China has a US Dollar shortage?