To: marcusmaximus
Chinese banks raised the yuan-ruble exchange rate to capitalize on their neighbor's weakened currency.
That's not capitalizing, that's paying what the Russian Ruble is worth. Monetary markets do that, and unless you are buying futures or something, paying an exchange rate that reflects the actual value of the currency is not "capitalizing".
4 posted on
08/15/2024 9:15:40 AM PDT by
Dr. Sivana
("Whatsoever he shall say to you, do ye." (John 2:5))
To: Dr. Sivana
China raised the rates in response to the economic situation. As you say, EVERY market moves to make a profit. This is no different. Assigning an “ill intent” means that the writer doesn’t understand markets; even Chinese ones.
6 posted on
08/15/2024 10:18:33 AM PDT by
Vermont Lt
(Don’t vote for anyone over 70 years old. Get rid of the geriatric politicians.)
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