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0 pointsjonathankoren6y ago0 comments

I understand how exchange rates work. What I’m confused about is claim that this is an eleven year low.

The article claims an exchange rate of 7.0391 CNY to 1 USD is an eleven year low, yet the 52 week range is 6.6704, and the five year low is below 6.2976. Typically, these charts show closes rather than intraday ranges, which further ads confusion about the claim.

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locust1016y ago

Calling it lowest ever means that you can get more yuans than ever in 11 years for 1 dollar. If you look at the chart, it clearly shows that this is the maximum yuan amount you can get for 1 USD in at least 5 years.

sokoloff6y ago

Right. In other words, "the value of 1 yuan is the lowest in 11 years in terms of how many dollars it can buy..."

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0 pointsjonathankoren6y ago0 comments

I understand how exchange rates work. What I’m confused about is claim that this is an eleven year low.

0 comments

locust1016y ago

sokoloff6y ago

Right. In other words, "the value of 1 yuan is the lowest in 11 years in terms of how many dollars it can buy..."

j / k navigate · click thread line to collapse