3- ESSAY
There are at least two Chinese renminbi ETF’s. CYB and CNY. How would, say, Apple, use these? Start by describing a SPECIFIC Apple yuan exposure (how it arises), and then describe either CYB or CNY. Both are ETF’s, but they have different contractual details, which you will look up and study. Choose and justify either a long position, or a short position in whatever ETF you pick.
If you wish, instead of an ETF, you can use a futures contract. but your answer would have to include finding and showing a specific contract, with up-to-date quotes. You might try the Hong Kong Futures Exchange, or CMEGROUP https://www.cmegroup.com/trading/fx/emerging-market/chinese-renminbi_contract_specifications.html?optionProductId=123&optionExpiration=123-K0.
