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Jim Rogers talks up the Chinese yuan amid fears of a US market crisis

Legendary investor lauds the yuan but says his cash holdings are still in US dollars because the Chinese currency lacks full convertibility

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Legendary American investor Jim Rogers speaking at an investor event in Hong Kong on Saturday. Photo: Themis Qi.
Themis Qi
Legendary American investor Jim Rogers has long advocated cash holdings given the potential for a market crisis due to US national debt.

But the currency he would hold might be the Chinese yuan rather than the US dollar, if the former were fully convertible, the veteran investor said in an interview at an investor event in Hong Kong on Saturday.

The remarks came at a time when the 83-year-old billionaire was planning to sell some equities and buy up cash, as he worried about an “extremely bad” crash following a rare long rally across global markets.

The US dollar will get overvalued, and I have to figure out where to go next. In theory, it should be the renminbi
Jim Rogers, Rogers Holdings
However, the US dollar might not be the destination, said Rogers, who is well known for predicting the global commodities rally in 1999 and was also a former business partner of investor and philanthropist George Soros.

“The US dollar will get overvalued, and I have to figure out where to go next. In theory, it should be the renminbi,” he said, adding that restrictions on the Chinese currency remained an obstacle.

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