Pay: Better in rmb or USD?

[yonitabonita]

Sorry to bombard you with such dull questions, but has anyone out there considered the question of whether it's preferable to get paid in USD or rmb?

If so, what conclusion did you arrive at?

Thanks,

Y

[gougou]

If you're gonna spend it all in China, RMB will save you having to exchange your salary every month. If you plan to save some money to take back home, USD are going to be much easier to repatriate.

[muyongshi]

The USD is dropping like there is no tomorrow and I know a guy high up in the US treasury department and they are eagerly trying to drop it down to 7 to 1 right now to help with trade deficits. It's at 7.59 (at least of last night).

If I were you I would go for RMB just for the pure value but I don't know if you are going to convert it back to US later which could rend and even worse rate. If u just use it here. Go for RMB.

[ipsi()]

...US treasury department and they are eagerly trying to drop it down to 7 to 1...

Wow. I'm sure New Zealand's Reserve Bank would just love to hear that we're going to appreciate even more against the USD, when we're already way too high for many exporters to be able to survive.

Sorry for the thread-jack.

On topic, I'd have to agree with Gougou - If you're planning on saving some, then USD is probably better. Otherwise, probably RMB as it'd be less hassle, with regards to having to change it every month.

[yonitabonita]

Thanks for the advice. RMB it will be.

Y

[Rincewind]

I'd agree with the above. The USD has not been performing well recently. Even with exchange fees, you'd probably make a profit by keeping you money in RMB for a year and then converting it to USD at the end. If the US economy looks set to rally, then shift your money to USD, but not yet.