Saturday, 5 February 2011

$ vs ¥


I could have been a few percent richer on my balance sheet.


Six months ago, HK$10 were worth about  RMB¥8.730 and that figure has steadily fallen to a recent ¥8.429!

I should have looked into RMB Savings and Fixed Deposit services as part of my investment portfolio ages ago. 

If you have done that long ago - well done. You are a smartie. 

Though the Central Bank only allows individuals like us to buy or sell 20,000 yuan a day, no harm exchanging bit by bit from today, right?  Given their fixed deposit interest rate is substantially higher too, no reason why not. 

I am going for it starting from the next trading day in the year of the rabbit - better late than never!


And by the way (and I HAVE to do this), even I graduated with an Economics degree, any actions taken based upon any of the information contained on this blog is done entirely at your own risk!!


2 comments:

KammWaterColor said...

Yes, no reason why not. Just helped my mom to open an account to start switching today!

Reba L said...

Sound strategy when the stock market is not volatile enough. Otheriwse, RMB-denominated investment products are very limited. Bonds paying 2.7pct interest, even with currency appreciation, may not be that attractive.