Buy Chinese yuan: Jim Rogers throws us another investment bone
The Chinese yuan is an excellent long-term investment, potentially appreciating 500% and becoming the global reserve currency in the coming decades, legendary investor Jim Rogers claimed last week.
Despite legitimate concerns in the US over China manipulating its currency to remain artificially low, the yuan has recently been on the move – upwards. Just over a week ago, the yuan hit its all-time high against the US dollar.
Since January of this year, spot yuan is up 1.6% overall. Since January 2009, when President Obama first took office, the overall appreciation figure is closer to 10%.
Many analysts now think the the yuan is headed for the 6-to-one-dollar threshold, considered a "major milestone."
Sources: South China Morning Post; Wealth Daily; XE.com