this post was submitted on 23 Nov 2024
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I believe it's lost about 22% in value against major currencies since August (USD, Yuan).
It's just about back to its March 2022 low before they introduced the capital controls and interest rate rises. So basically they've now pissed away all the central bank's work to stabilize the currency.
Magnificent.
You love to see it
Might be true! I'm only saying that this specific graph is a bit misleading. Love to see it any way!
It may seem misleading to you, but that's how currency and stock graphs are shown.
I know! But to lable it "collapse", when that's not what the graph shows, seeing where the y-axis starts, is still a bit misleading. It's bad, but not collapse bad yet.