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Afraid of losing out. They swap dollars instead of converting dollars to Yuan. The regulators r allowing it.
https://www.reuters.com/markets/currenci...023-08-31/
This swapping in USD has gone into overdrive at the moment
https://www.bloomberg.com/news/articles/...-fx-bypass
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Third world china RMB is weakening to the point of becoming worthless banana notes. Even ah tiongs don't want to hold onto useless RMB.
Many ah tiongs are trading it for USD and gold, really shows how much confidence ah tiongs have in their own country lololololololol!
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Sheep mentality still prevails and strong, can sense that from the posts
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USD has climbed back up over the weekend despite rumours of a rate cut becoming imminent and PBOC setting an exchange rate of 7.13 to strengthen CNY
https://www.marketwatch.com/investing/currency/usdcnh
https://www.fxstreet.com/news/pboc-sets-...2407290120
![[Image: Screenshot-2024-07-29-185258.jpg]](https://i.ibb.co/fv2kfvv/Screenshot-2024-07-29-185258.jpg)
(This post was last modified: 29-07-2024, 06:56 PM by
teaserteam.)
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