Posted by forex at 4:46 AM
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1. Review the current share prices and price charts of the ETF/ETNs investing in the BRIC country currencies. Here are the stock symbols for the different BRIC country currency funds:Brazilian Real: BZF.Russian Ruble: XRU.Indian Rupee: INR and ICN.Chinese Yuan Renmimbi: CNY and CYB.
2. Determine the number of shares and the currency funds in which you want to invest. Currency values tend to be cyclical, so you want to own the ETF/ETN shares during the uptrends and be out of the funds when the currencies are dropping against the dollar. Use stock price charts to get a visual indication of the current share price trends.
3. Buy the selected fund shares through an online stock brokerage account. ETF and ETN shares trade on the stock exchanges and are bought and sold like any individual stock.
4. Monitor the values of your BRIC country currency investments, and adjust the allocations as share values and market conditions change.