This week, for the first time ever, the Bank of China in the US is letting American customers open up accounts and invest directly in Chinese currency. Last year the “closed” currency yuan gained 3.3% against the dollar while the highest American “high interest” accounts were delivering around 1.7%. WSJ gives 5 reasons for getting in on the hot renminbi action:
Greg has a question for the world travelers and expats who are part of the Consumerist hive mind. He writes that he has about $2,000 worth of Chinese yuan, in cash, from his first year as a teacher in China. He’s back visiting the US for a few weeks, and can’t figure out what to do with his giant pile o’yuan.