I have a habit: money I leave sitting in exchange accounts is always displayed in yuan.
There are two reasons: first, it’s convenient; second, I want my measly little nest egg to look a bit bigger (not really).
But when I clicked in a few days ago, I noticed something strange:
There seemed to be a little less money than before.
I paused for a moment, then it hit me: had the yuan exchange rate gone up again?
So I looked it up, and sure enough, it had.
Everyone knows how strong the US dollar has been over the past year. Major currencies like the euro and yen have generally fallen against it.
But there’s one exception: the yuan.
Over the past year, the yuan-to-dollar exchange rate has generally held steady or risen—a real outlier.
At least for now, you could say China’s economic fundamentals are relatively stable.
And the central bank has some tricks up its sleeve. Today, it directly raised the foreign currency reserve requirement ratio from 4% to 6%, just to keep the yuan at an appropriate level and stop it from rising too quickly.
With the yuan staying strong on one hand, and exchanges like Binance offering high-yield financial products on the other $USDT 、$USDC ,
I think I’ll just leave my money on the exchanges after all, haha.
There are two reasons: first, it’s convenient; second, I want my measly little nest egg to look a bit bigger (not really).
But when I clicked in a few days ago, I noticed something strange:
There seemed to be a little less money than before.
I paused for a moment, then it hit me: had the yuan exchange rate gone up again?
So I looked it up, and sure enough, it had.
Everyone knows how strong the US dollar has been over the past year. Major currencies like the euro and yen have generally fallen against it.
But there’s one exception: the yuan.
Over the past year, the yuan-to-dollar exchange rate has generally held steady or risen—a real outlier.
At least for now, you could say China’s economic fundamentals are relatively stable.
And the central bank has some tricks up its sleeve. Today, it directly raised the foreign currency reserve requirement ratio from 4% to 6%, just to keep the yuan at an appropriate level and stop it from rising too quickly.
With the yuan staying strong on one hand, and exchanges like Binance offering high-yield financial products on the other $USDT 、$USDC ,
I think I’ll just leave my money on the exchanges after all, haha.
