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The recent RMB appreciation has truly been a punch to the gut. At the beginning of the year, with an exchange rate of 7.35, 7.35 million RMB could be exchanged for 1 million USD. Many people then turned around and deposited their USD into fixed deposits, with a 4% annual interest rate that looked pretty good, ending up with 1.04 million USD after a year. But now, with the RMB appreciating to 7.05, that 1.04 million USD can only be exchanged for 7.332 million RMB, a loss of 180,000 RMB.
After a year of fluctuations, the fixed deposit interest has been eroded by the exchange rate movement in the opposite direction. This year has indeed been somewhat surreal — stocks, bonds, forex, and cryptocurrencies all declining simultaneously, making it hard to feel comfortable with any investment. But on the other hand, instead of obsessing over market fluctuations and feeling anxious, it might be better to adjust your mindset. Enjoy a peaceful holiday; perhaps that is the best choice.
Losing 18,000 yuan is acceptable, but the key is that your mentality has gone wrong.
The exchange rate is really incredible; earning interest and then getting cut by the韭菜反手.
I think it's better to diversify risks and not all in one direction.
The appreciation of the RMB is really not a good thing for ordinary people.
This wave of operations is a complete loss of interest and exchange rate, a blood loss.
Rather than studying these, it's better to work hard; stable cash flow is the key.
Four kills all out, these days it's too hard to make money.
Saving in fixed deposits is not as good as saving in gold, at least it feels more secure.
And now? The interest has been completely eaten up by the exchange rate.