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Business News Tue, 18 Aug 2015

Devaluation of Chinese Yuan to worsen cedi's plight

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Comment: Re: Devaluation of Chinese Yuan to worsen cedi's p

Author:
Crackadoddledooooo
Date:
2015-08-18 21:35:34
Comment to:
Devaluation of Chinese Yuan to worsen cedi's pligh

Analysis is flawed. We can rather buy the same quantity of goods but with less dollars so this should rather put less pressure on foreign currency and accordingly reduce demand for dollars for the same level of imports that we require. Devaluation of the Yuan is actually beneficial for us considering we are net importer from China and don't have much to sell them for which we need to keep our currency weak to compete with their Industries. Our currency is already anaemic and any weaker and we will go into a coma

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Crackadoddledooooo on Aug 18, 2015 21:35
Re: Devaluation of Chinese Yuan to worsen cedi's p