Asia Sentinel

Asia Sentinel

Share this post

Asia Sentinel
Asia Sentinel
Getting Burned in China’s Currency Markets
Copy link
Facebook
Email
Notes
More

Getting Burned in China’s Currency Markets

Asia Sentinel's avatar
Asia Sentinel
Mar 18, 2014
∙ Paid

Share this post

Asia Sentinel
Asia Sentinel
Getting Burned in China’s Currency Markets
Copy link
Facebook
Email
Notes
More
Share

Predictability is the curse of central banking when it gives speculators a sure thing. Every day for the past several years, investors have been visiting their banks in Hong Kong to convert Hong Kong dollars – pegged to the US dollar – into a maximum of RMB20,000 per day on the supposition that the renminbi would continue rising in value against the US …

Keep reading with a 7-day free trial

Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Asia Sentinel
Publisher Privacy
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More