Sunday, October 17, 2010

Invest in Chinese yuan

Dear Sir,
I have an amount around 1.5k. I am currently a tertiary student studying in NUS. Is it advisable to invest in chinese yuan now? How do i invest in such currency? By buying from the bank?

REPLY
It is not worth the trouble to speculate in the Chinese yuan.
You have to open a bank account in China and transfer money there.
It is not easy and quite costly.
Keep your money in SGD which is one of the strongest currency in the world now.

Read my FAQ about "Invest in Foreign Currency" in www.tankinlian.com/ask.aspx
Direct link to FAQ
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3 comments:

John YS said...

What do you think of buying physical silver then, sir?

October 17, 2010 10:17 AM
Wilfred said...

You can open a fixed deposit in chinese yuan in Singapore itself. There is no need to be a high networth also. Only certain banks here offered this. The availability of chinese yuan in Singapore is due to recent MAS swap agreement with China.

October 17, 2010 11:40 AM
silverybay said...

For small amount like $1.5k, I think just go to a money changer, exchange and than keep the chinese yuan somewhere safe. When it appreciates, go back to money changer and swap back. The interest lost is negligible.

@John YS, I have been accumulating physical silver for some 2 years now as a hedge against currency crisis as well as hyperinflation. And strictly physicals, no ETFs, silver funds or any form of "paper" silver.

October 18, 2010 8:35 AM

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