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Originally Posted by jorgelito
I think the Chinese currency is pegged to the dollar. Wouldn't that mean if you bought $1000 worth of Chinese currency it would always be worth that amount?
Or am I missing something in your post?
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I think you've got it correct. No sense in buying the yuan right now.
When I was in Canada a couple years ago, the impression I got was that I should spend whatever I had just exchanged as I wasn't likely to get my greenbacks back.
And I heard a lot of disparaging remarks from vendors about their currency relative to mine (like, "what is this [product] in dollars?" ($60 CND) "Oh, aboot 2 dollars, haha,hahaha"). that was the first time I had been out of the country (except mexico) and the first time I had heard someone talking shit about their own currency. I felt a bit awkward, actually.
But the point is, maybe Chinese and Canadian aren't the two best currencies to invest in (but double check Canadian because that was about 2 years ago and ours is taking a shit slot on the world stage these days it seems).