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Chinese Yuan
- Thread starter enkidu007
- Start date
Quote from enkidu007:
I have some risk capital and would like to buy some chinese yuan. Anyone know where I can go and do this in a small amount?
Thanks
Do you have ways to covert CNY back to dollar after CNY reval? CNY is not an free exchangable currency in capital account.
USD/CNY NDF can be a good choice. But it will take you some time to find a broker having that product and the initial deposit may not be small.
I'm living in Hong-Kong, most local banks now offer to open CNY-denominated saving accounts.
Unfortunately I believe the max amount you can deposit is 10,000 CNY. Unless this changed recently.
Contact your local HSBC branch, may be they're offering CNY saving account in the US too, I guess your CNY-saving account would be opened out of HK.
I personally don't speculate on the appreciation of the CNY because (1) my personal opinion is that it's still going to take a long time before a reevaluation of the CNY, and (2) reevaluation is unlikely to be very big at the beginning, we're talking about less than 5% here.
I, again personally, think the potential return isn't that great.
Unfortunately I believe the max amount you can deposit is 10,000 CNY. Unless this changed recently.
Contact your local HSBC branch, may be they're offering CNY saving account in the US too, I guess your CNY-saving account would be opened out of HK.
I personally don't speculate on the appreciation of the CNY because (1) my personal opinion is that it's still going to take a long time before a reevaluation of the CNY, and (2) reevaluation is unlikely to be very big at the beginning, we're talking about less than 5% here.
I, again personally, think the potential return isn't that great.