Chinese RMB rates..

[Cerberus]

Originally Posted by GTOKING

show hand ? ........play big liao !
bro coolman always do that

Originally Posted by SGguy33

wah..bro, b4 u showhand, let us know first, otherwise u bring the rate down ah..

Haha....small amount only lah. There is only one Bro here who can do "Showhand" and bring the rates down............the CASH KING.......

[GTOKING]

Originally Posted by Cerberus

Haha....small amount only lah. There is only one Bro here who can do "Showhand" and bring the rates down............the CASH KING.......

are u refering to adidas aka the cash king
yaya , and coolman too

once they show hand, US will laugh , exchange rate will drop till 4.5
so better change before they action

[coolmanks]

Wow you are the FX expert is it? But why yr target so modest this time?

Let me ask you; in the tortoise vs the hare race, who always win eventually?

Originally Posted by GTOKING

bro coolman , wait till 4.98 then will be the good time

[coolmanks]

Today PP remittance rate quoted over the phone is 4.9400

Below is Goldman prediction for it worth.........but there is no reason to believe they would be more accurate than that of our resident expert GTO hahhaha

April 14 (Bloomberg) -- Goldman Sachs Group Inc.’s chief global economist Jim O’Neill said China may strengthen the yuan by between 2 percent and 5 percent as early as next week.

O’Neill said in an interview that trading in local currencies among Brazil, Russia, India and China -- to be discussed at a heads-of-state summit of so-called BRIC nations this week in Brasilia -- won’t work because of China’s use of a dollar peg to manage the value of the yuan.

“It’s all semantics to talk about trade in local currency unless they do what the rest of world wants them to, which is provide more freedom to use these currencies,” O’Neill, 53, said from London. “The consequences of Chinese policies are increasingly seen by everyone, including the BRICs.”

Pressure on China to end the yuan’s peg is building as BRIC leaders get ready to meet this week to discuss boosting trade in local currency and coordinating positions on reforming the international financial system after the global credit crisis. Chinese President Hu Jintao, who arrives in Brasilia tonight from the U.S., told President Barack Obama yesterday that China won’t bow to pressure after the U.S. leader urged the Asian country to adopt a “more market-oriented exchange rate.”

Twelve-month non-deliverable yuan forwards rose 0.2 percent to 6.6225 per dollar as of 12:27 p.m. in New York, according to data compiled by Bloomberg. The contracts reflect bets the currency will strengthen 3.1 percent from the spot rate of 6.8258.

Stronger Yuan

O’Neill, who in 2001 coined the term BRIC to describe the four large, fast-growing economies, said he was pushing up his forecast for a stronger yuan from the end of the year because it is increasingly obvious the currency is undervalued.

“If the U.S. Congress hadn’t been so noisy about this in the past month, it probably would have already happened,” said O’Neill, who has discussed the distortions caused by the dollar peg with Chinese officials in visits to Beijing. “It just makes an enormous amount of sense.”

China’s exchange rate policy is “a particularly big challenge for Brazilian” manufacturers as the country seeks to reduce its reliance on commodity exports, O’Neill said. China surpassed the U.S. as Brazil’s biggest trading partner last year, as exports of iron-ore and soy rose during the global recession while manufacturing sales to the U.S. declined.

Still, even as the countries disagree over how to manage their currencies, he expects no tension or public criticism of the yuan’s peg when Brazilian President Luiz Inacio Lula da Silva hosts his Russian, Indian and Chinese counterparts.

Instead, the second meeting for leaders from the four nations will seek to find common ground about ways to reform the International Monetary Fund, United Nations and other international institutions.

“Being Mr. BRIC, of course I’m flattered these guys now meet together, but beyond all being large economies what else can they really do collectively,” O’Neill said. “This summit is a very powerful symbol of how hopeless international organizations have become.”

To contact the reporter on this story: Joshua Goodman in Sao Paulo at [email protected]

[adidas88]

Originally Posted by coolmanks

Today PP remittance rate quoted over the phone is 4.9400

Below is Goldman prediction for it worth.........but there is no reason to believe they would be more accurate than that of our resident expert GTO hahhaha

wah .. liddat better start remitting now before rmb gets stronger ...

[Zaryl]

People's Corner, The Arcade

Time : 1730 hrs
Rate : 4.865

[GTOKING]

bro coolman , wat u waiting for
show hand liao , let me know early one day ok
if not the market will drop and affect my 10 yuan

[Sinoview]

The Singapore $ gain over the RMB is very impressive over the last few days as can be seen in the chart below :



http://www.x-rates.com/d/CNY/SGD/graph30.html

[Sinoview]

Originally Posted by travelcraze88

All bros should boycott these two arrogant money changers at Parkway Parade.

.

Haha..... Many of us already written them off long time ago....

Even the 24hrs Mustapha rate is better than these "two" con Money Changers...

It's definitely NO NO NO to them....

[SGguy33]

online forex @4.971, think will hit 5 soon

any update in remittance rate?

[Cerberus]

Originally Posted by SGguy33

online forex @4.971, think will hit 5 soon

So optimistic??

Today pass by J8 Money Changer

RMB - 4.85

Slow to catch up.......

[newcheongster]

the one next to china mrt sttn offer 4.87

[SGguy33]

Originally Posted by newcheongster

the one next to china mrt sttn offer 4.87

wow, our mrt reaches china a? how much is the fare? how long is the trip?

[prcsytlover]

Remit Rate - 4.936

[adidas88]

Originally Posted by prcsytlover

Remit Rate - 4.936

then what r u waiting for ???