Chinese RMB rates.. - Page 62

adidas88 · #**916** 16-03-2009, 12:52 PM

Quote:

Originally Posted by Optimus_Prime

haizzz... nowadays wanna get 4.5 also like very hard.
dun say about reaching former glourious heights

u mean 5.0 & above ?? .. that's history leow ....

i believe rmb will get stronger against S$ ...
we'll probably be looking ard 4.2 by end of this yr ..

coolmanks · #**917** 16-03-2009, 02:10 PM

U mayor, so high profile, how to avoid attention?

Quote:

Originally Posted by Sinoview

U never used their service is true....the rest r over exaggerating.....haha...

Dont any say ....scalry attract all the wrong attention hoh.....hehe...

KOOKA · #**918** 16-03-2009, 04:48 PM

Junction 8
444.00

suckerll · #**919** 16-03-2009, 07:32 PM

Quote:

Originally Posted by adidas88

u mean 5.0 & above ?? .. that's history leow ....

i believe rmb will get stronger against S$ ...
we'll probably be looking ard 4.2 by end of this yr ..

like this must change more RMB now huh!

cpcheongster · #**920** 16-03-2009, 08:54 PM

changed in change alley today

alot of money changers said they ran out of rmb

finally found 1 opp POSB

was offered 444 but after i told him i m changing 3k, he quote me 445

cheers

adidas88 · #**921** 16-03-2009, 09:11 PM

Quote:

Originally Posted by cpcheongster

changed in change alley today
alot of money changers said they ran out of rmb

ran out of rmb ?? ....
looks like ppls r keeping rmb for future ....

Lookingaround2 · #**922** 16-03-2009, 10:33 PM

Quote:

Originally Posted by adidas88

ran out of rmb ?? ....
looks like ppls r keeping rmb for future ....

usually when money changer run out of RMB it mean 1 thing....

thet RMB going to drop liao.

why i say that.

most of the money changer get their currency through bank. only a small percent get from other customer that change into SG.

so if they change alot from the bank, it will mean that if the currency drop, they will make a lost when they sell it.

for example.. if today bank rate is 4.45. if the money changer change 100k from the bank. and if they change to customer at 4.44, they will earn about 1k RMB. but let say tomorrow, the exchange rate drop. RMB become 4.5, if they use the RMB from yesterday and change at 4.49, they will make a lost of 0.04 for each S$.

of coz.. it may be simply run out of RMB.

so let hope for the best tomorrow.

coolmanks · #**923** 16-03-2009, 11:49 PM

That is an very interest observation. It make sense, if you believe that the money changer know more about the market and fx rate than we do here.

In 2007 when I first go to CP, I notice that the money changer cash rate was about 7 cent below the interbank rate. For remittance is about 5cts below inter bank whuch is the offical wholesale rate. This differential remain bascailly unchange till the financial crsis.

Then in Oct/Nov 08 when the are talk of a rmb devaluation, for remittance the rate was even better than the interbank rate. I though either the remittance agent is going to run away with my money

or it reflect that Funds are flowing out China in the so call grey market.

From dec 8 to Feb9, the remittance agent rate is about 4 cent below the offical inter bank rate and now since last week their rate have moved up to the same as the offical inter bank rate.

Quote:

Originally Posted by Lookingaround2

usually when money changer run out of RMB it mean 1 thing....

thet RMB going to drop liao.

why i say that.

most of the money changer get their currency through bank. only a small percent get from other customer that change into SG.

so if they change alot from the bank, it will mean that if the currency drop, they will make a lost when they sell it.

for example.. if today bank rate is 4.45. if the money changer change 100k from the bank. and if they change to customer at 4.44, they will earn about 1k RMB. but let say tomorrow, the exchange rate drop. RMB become 4.5, if they use the RMB from yesterday and change at 4.49, they will make a lost of 0.04 for each S$.

of coz.. it may be simply run out of RMB.

so let hope for the best tomorrow.

solucky0621 · #**924** 17-03-2009, 12:08 AM

changed at shop directly opposite Singapore Pools at People's Park Centre, rate 4.445

adidas88 · #**925** 17-03-2009, 09:09 AM

Quote:

Originally Posted by Lookingaround2

usually when money changer run out of RMB it mean 1 thing....
thet RMB going to drop liao.

or they keep the rmb and wait for it to rise .....

anyway ... it can happen both ways ...

coolmanks · #**926** 17-03-2009, 10:25 AM

Today inter bank rate 4.4580 this morning.

Remittance rate at PPC is 4.46.

Slightly better than yesterday rate of 4.45.

Tony Stark · #**927** 17-03-2009, 03:32 PM

Quote:

Originally Posted by cpcheongster

changed in change alley today

alot of money changers said they ran out of rmb

finally found 1 opp POSB

was offered 444 but after i told him i m changing 3k, he quote me 445

cheers

Late afternoon will have limited stock of RMB and HKD at Raffles Arcade area. Go earlier if you can.