The field of currency exchange-traded products keeps getting better and better. Only a few years ago, the selection of such products was quite small, and limited to the major currencies (i.e. Dollar, Euro, Yen).

Next came the introduction of riskier currencies, namely those of the so-called emerging markets, such as the Mexican Peso, Brazilian Real, Indian Rupee, and most recently the Chinese Yuan. This was followed by multi-currency and strategy funds, such as the Dollar Bearish fund and a Carry Trade fund.

This brings us to the present day, where Barclays Capital has brought to the market the Asian and Gulf Currency Revaluation ETN. As its name suggests, this ETN aims to capture any gains from the revaluation of five select currencies that are currently pegged to the Dollar. Index Universe reports:

The index currently includes the currencies of Saudi Arabia, Hong Kong, the United Arab Emirates, Singapore and China…Many expect these currencies to have their pegs adjusted upward, creating a potentially low-risk investment with significant upside in the event of a revaluation.

Read More: Pegged Currency ETNs