Results 1 to 7 of 7
  1. #1

    How can I in invest in somethingthat will move with Chinese currency?

    There is news that the Chinese currency will rise in relation to other currencies. I would like to invest in something that will go up, maybe just with interest, and be related to the Chinese currency rate. What can I invest in if I have several thousand pounds to put in?

  2. #2

  3. #3
    They are intersting articles about the currency but what I'm looking for is for either a fund linked to Yang or a way of opening a Chinese savings account without losing too much on the conversion of GBP to Yuan when I invest and and Yuan to GBP when I want to withdraw.

  4. #4
    Our head of research points out:

    There are some Exchange traded currency funds that have been launched linked to emerging currencies. It might be worth keeping an eye out as at the moment they're based on USD.

    http://www.etfsecurities.com/en/welcome.asp

    He did warn though that It can open a bit of a can of worms with these funds though in their ability to track movements and their structure.

    Others here point out there is also the Stratton Street Chinese remnimbi fund.

  5. #5
    Ideally you're looking to do a carry trade on sterling versus the yuan, which is popular with fx dealers currently. (This captures spot rate rises and fixed interest). The only way you can access these unless you're confident enough to paly the futures market are through ETFs or ETNs. ETFS has a growing number of these (unsure of a yuan-denominated one) products and are planning to launch more in the emerging market space later this year, as Is Deutsche Bank who have two ETNs. But as with everything, read the small print and I'd avoid it altogether. All other ETF-type currency products are based in the US and while you can access them (Wisdom Tree, Rydex) y9ou are know taking on dollar risk (since you have to pay in dollars) and you'll need to hedge that risk.

  6. #6
    I've heard that you can open a Hong Kong HSBC account, does anyone know anything about how to do this?

  7. #7
    Don't bother. The HSBC account you would be allowed to open is denominated in HK dollars. They do have foreign currency accounts there too but in using them each time you buy and sell a currency HSBC converts sterling to the HK dollar (read US dollar since it trades in a very narrow fixed band) and then into the currency you want, The same happens in reverse. They do not have yuan denominated account for foreigners since the yuan remains a pegged currency, I understand.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •