Reminbi investment

[maliciousmonster]

Hi Guys,

I'm looking at the CNY (Chinese Yuan aka Reminbi) and it's growing at a staggering rate.

I was wondering if it makes sense to open a CNY account and keep some CNY till like 2020.

Would that be feasible?

 

[Dividends Warrior]

Hi Guys,

I was wondering if it makes sense to open a CNY account and keep some CNY till like 2020.

What is your plan after 2020?

 

[maliciousmonster]

What is your plan after 2020?

see how much I earn with the CNY first lol.. I'll be 32 by then.. If can I'll start getting a flat..

 

[Shiny Things]

Hi Guys,

I'm looking at the CNY (Chinese Yuan aka Reminbi) and it's growing at a staggering rate.

I was wondering if it makes sense to open a CNY account and keep some CNY till like 2020.

Would that be feasible?

Uh - it's feasible, sure, but it's not as good an idea as you think it is.

I think you're confusing the growth rate of the Chinese economy with the growth rate of the CNY (the currency). Since the PBOC pulled the rug out from under the CNY in 2010, it's gone from about 4.9 yuan per SGD to... uh... 4.8 yuan per SGD.

Add in the extra yield pickup of about 1% per year, and you'd have made a massive... one-and-two-thirds percent per year. This is not a great return!

If you don't need the money until 2020, you're better off sticking it in blue-chip stocks.