Rus Articles Journal

Money. Whether to enclose the savings in yuans? The Chinese authorities declared

liberalization of the currency. Experts consider that it can rise in price for a third.

When all world currencies (both dollars, and euros) depreciate, the wise investor looks for smooth and profitable water. In what currency it is better to store savings now? Many experts incline to yuans. Especially as the other day National Bank of China headed for strengthening of the currency. This decision from Celestial Empire waited for more than two years. The matter is that economists consider as one of the main reasons of crisis disproportions which arose in trade relations between the USA and China. The essence of this phenomenon is simple. China makes the goods and sells them abroad. The main consumer of the Chinese consumer goods - America. Yankees buy their cheap goods from hardworking Chinese. And Beijing, receiving in exchange the American dollars, right there exchanges them for state bonds of the American treasury, thereby increasing the reserves. As a result at the USA debts grow, and Chinese have reserves. But infinitely so cannot proceed.

An exit from this vicious circle only one - to increase yuan exchange rate. In this case the Chinese goods will not become so attractive to Americans any more and the debt of the USA will begin to be reduced. Nevertheless in 2008 when world crisis began, Chinese recorded a course of the currency at one level - 6,8 yuans for 1 dollar to secure own economy.

And by that, one may say, set up all. Disproportions from it began to grow only. But now Chinese, it seems, thought again. - News to global economy positive, - Sergey Guriev, the rector of New Economic School considers. - It means that China will export less and to consume within the country more. In other words, in world economy imbalances which, actually, and led to crisis will begin to be reduced - when China accumulated reserves, and the USA had huge trade deficiency.

The world markets also apprehended the message from Celestial Empire with enthusiasm. Asian stock markets grew by 2 - 3%, the Russian and European market indexes put on weight. On how many yuan exchange rate can grow?

- Theoretically if now completely to release Chinese yuan exchange rate, then it can grow up for 30 - 40%, - Sergey Suverov, the member of index committee MICEX says. - But I think that process will be smooth. This year the currency of Celestial Empire will hardly grow up more than for 5%.

- Now slow revaluation of yuan has to be resumed, - Sergey Guriev considers. - Another thing is that it can become stronger rather long time. And the Chinese authorities will do everything possible purposely that speculators did not earn from it.

Whether it is worth running to buy yuans? And where? The problem is that the Chinese yuan did not become freely convertible currency. As a result it is quite difficult to buy them in the open market in Russia, in a rare exchanger there will be Chinese notes. Another thing is that some Russian banks suggest to open a contribution in yuans. According to the Banki portal. ru, it is possible to place term deposits in the Chinese currency in the Baltic development bank and in My " bank;. But rates especially do not impress - 3 - 4% per annum.

And experts advise not to be fond of currency games. Nevertheless it is better to keep the main share of savings in rubles especially as deposits in rubles can bring up to 10% per annum now.