Two new exchange traded notes (ETNs) will give access to the Chinese and Indian currency, the first of their kind.
The funds, Market Vectors Indian Rupee (INR) and Market Vectors Chinese Renminbi (CNY), are issued by Morgan Stanley, reports Business Wire.
Both funds track the performance of rolling investments in short-term forward contracts for their respective currencies.
Up until now, the main path for investors who wanted currency exposure was through Rydex‘s line of CurrencyShares. The advent of these new ETNs are adding to the convenience of currency investing.
Read the disclosure, as Tom Lydon is a board member of Rydex funds.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.