CD in CNY/RMB?
February 11, 2009 9:08 AM Subscribe
How can I invest in CNY/RMB from England, France, or the U.S.?
I'm not terribly keen on investing in stocks of Chinese companies given may decline, or go bankrupt, if the CNY appreciates against the USD, but it'd be lovely getting some interest too. I'm looking to sit on the CNY for a little while, so I'm definitely not interested in buying on margin. It sounds like opening a bank account in China truly sucks, and offers little chance for interest. I'm aware of the CDs offered by EverBank, but they don't cover CNY. Thoughts?
I'm not terribly keen on investing in stocks of Chinese companies given may decline, or go bankrupt, if the CNY appreciates against the USD, but it'd be lovely getting some interest too. I'm looking to sit on the CNY for a little while, so I'm definitely not interested in buying on margin. It sounds like opening a bank account in China truly sucks, and offers little chance for interest. I'm aware of the CDs offered by EverBank, but they don't cover CNY. Thoughts?
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If not have you looked into managed currency funds or currency exchange traded funds that invest in RMB? Not that Chinese funds are great choices right now because of the massive US debt carried by China and a cooling economy, but this does sound a little like what you are talking about.
posted by Pollomacho at 9:26 AM on February 11, 2009