2011-02-12

Foreign currency trading takes off in China

Watch out housewives of Japan. Chinese are muscling into the trading of foreign currencies, aided by the massive money printing carried out by the central banks of the world.

Scalpers and the spread, an atypical story of currency speculation

The article is in Chinese. An interesting story about one man who used to exchange dollars for RMB on the black market, when the rate was higher. Go back to the bank, exchange RMB for dollars, rinse and repeat.

Some of what's going on is the natural progression of capital markets, and some is due to inflation, such as the tour guide in Beijing who quit to trade currencies.

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