Quote:
Originally Posted by wdsguy
I switched a decent percentage of my paper currency holdings over to the RMB a few years ago. It was a pain in the ass to get it out of China though.
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I have RMB but its better to be money you don't need often as its not fully convertible yet. Although, this year there is expectation that RMB will appear as a weighted in the SDR (Special Drawing Rights) and that be one more reason that China makes the RMB fully convertible.
So if you still have RMB out there, you might find that you can convert to any currency within a year or two.... that's my expectation as they've already moved heavily in that direction. When they do that though, I think a lot of people will want to own some and it could strengthen a lot so im reluctant to ditch it especially if China gives up its tracking of the USD in the same way as the Swiss gave up the EUR.