Exchange Rate Now!

The rich oligarchy in Kyrgyzstan are not the only ones worried about the change in government, where former President Kurmanbek Bakiyev was toppled in Apr 2010.

Forex traders were very mindful and wary too, as the currency of Kyrgyzstan Som (KGS) (Kyrgyz: сом, sometimes transliterated as “sum” or “soum”) would wildly fluctuate.

Currently, 1 US Dollar trades at 45.53 Kyrgyzstan Som and it is highly likely that the Kyrgyzstan Som would depreciate in the weeks to come due to the government instability as well as a outpour of funds from the rich oligarchy in Kyrgyzstan to safe havens like the US Dollar.

We predicted that the Kyrgyzstan Som may hit the 1 US Dollar against 50.0 Kyrgyzstan Som within the next 3 months with the same rational. Political situation in Kyrgyzstan is (more…)

This time round, even the International Monetary Fund has chipped in to say that the Chinese Yuan should be adjusted (re-valuated).

The proponents – United States and India. The opponents – Only China.

The proposition of proponents – Re-valuating the Chinese Yuan will solve the trade imbalance – currently, the United States vs China deficit stands at about 62.4%. This is staggering as much of the imports for Chinese products into the United States translates into revenue for the Chinese. And as long as the revenue streams come trickling in, the China economy will continue to grow – at the expense of the United States.

The cold war between the United States and Russia had already passed with the collapse of the Berlin was in 1989. This time round, the economic cold war between United States and China will be more prolonged (more…)

The People’s Bank of China Governor Zhou Xiaochuan said today that the Chinese Yuan might be “fine-tuned” to manage the after effect ripples from the global financial crisis which started in Oct 2008.

His comments raised eye-brows because it is not common for Chinese officials to comment on the valuation of the Renminbi as well as the fact that it had been some 18 months since the financial crisis stuck. Are such comments belated?

Regardless of the timeliness of his comments, forex traders would be interested to know the impact of forex market. Currently, 1 U.S. dollar = 6.826 Chinese yuan and it is very unclear whether the fine-tuning means the appreciation or depreciation of the Chinese Yuan (RMB). Most analyst expect the yuan to gradually appreciate over time, which several hedge funds expect to see more signs (more…)