I am not optimistic about the rupee. You constantly have huge deficits, trade deficits, government deficits and inflation. If they would make the rupee convertible, then we can find a real free market value of the rupee. I would probably be extremely interested in India and in the rupee, but as long as you have got all these blockages, with the Indian government and Indian central bank trying to control everything, you cannot have a real market. So I am not too optimistic about the rupee.
On the other Asian currencies, the Chinese renminbi in probably going to continue to be strong. There will be ups and downs, but since it has been very strong recently, it is overdue for a correction. The Japanese yen will continue to be very weak, although I bought a few recently, because there are so many shorts at the moment. I am trying to be a trader, though I am a terrible trader. So if I am trying to go long the yen, it is undoubtedly going to go down. The Hong Kong dollar is probably okay to buy.
Jim Rogers is a investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.
