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Chinese Yuan Will Quadruple Over Time: Rogers

CNBC.com
Friday, 26 Mar 2010 | 3:27 AM ET

Buy the Chinese yuan if you can, as the currency's value will surge over time, said Jim Rogers, Chairman of Rogers Holdings.

Yuan Will Surge Over Time: Rogers
The value of the renminbi is set to surge over time, says Jim Rogers, chairman of Rogers Holdings and author of 'A Gift to My Children'. He tells CNBC's Chloe Cho & Anna Martin why he believes the U.S. leave China alone.

"I expect the renminbi to double, triple, quadruple over the next few decades," Rogers said on CNBC. "Just as the Japanese yen...went up 400% over the past few decades against the dollar, the renminbi will too."

(Watch interview with Rogers at left)

Leave China Alone

When it comes to letting the yuan float, Rogers said Beijing should not manage the currency at all. However, continuous pressure from the U.S. is not going to help.

"I would leave the Chinese alone. Slapping people in the face...in public is not a good way to get things done. And the other side has to save face, and they have to do something," Rogers added.

"The Chinese know they have to have a higher floating currency, they know they have to let things change but slapping them in the face is not the way to do it."

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