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One thing that I don't understand is why such a move by China (devaluation)
seems to be so feared. How much worse can it get for S.E. Asia?
~Alan
-----Original Message-----
From: TheGonch <Daniel.Goncharoff@xxxxxxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, January 21, 1999 8:23 AM
Subject: Re: Devaluation question
>The HK$ is pegged to the US$. The reminbi (sp?) is not convertible but
>is effectively maintained by the Chinese govt, and there has been talk
>of the Chinese 'floating' its currency by refusing to support current
>levels, which is most similar to the Brasilian situation, where they
>were not strictly pegged, but attempted to manage the deterioration of
>the exchange rate over time.
>
>DanG
>
>Andrew wrote:
>>
>> At 05:12 PM 1/21/99 , you wrote:
>>
>> You mean HK dollar.
>>
>> >China gets the focus now as the biggest economy pegging its rate.
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