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What about CNY? China is world leader, surely its currency should be pretty stable. I, personally, started to invest my tiny savings into CNY.
by vbezhenar 4y ago
What about CNY? China is world leader, surely its currency should be pretty stable. I, personally, started to invest my tiny savings into CNY.
- Glavnokoman 4y agoHow do you do that? Directly into currency or in china-traded stocks? Which broker do you use for that?
- vbezhenar 4y agoI go to local bank and buy cash.
- kasey_junk 4y agoThe problem with CNY are several fold: defacto peg, difference in price between onshore and offshore cny, strict currency controls make treasury operations challenging for real users of the currency, governmental policy of treating foreign holders different than domestic, etc. At the end of the day most currency holders want a liberalized currency and CNY is far from that.
- refurb 4y agoI remember some Reddit post asking about CNY and the replies were all “Wait, all the rich Chinese are desperate to get their money out and you want to bring your money in?”