The Turkish lira has dropped about 41% against the US$ in August. So far it has dropped 85% this year. In 2012 to 2013 the lira was holding very well at around 1.7 lira to 1 US$. In today's trading, the lira reached an intra-day high of 7.0409 (-9.5%) from its Friday level of 6.4275 before recovering to around current level of 6.8795 (-7% within a day).
The country withe the worst financial crisis this year is Venezuela. Its currency the Venezualan Bolivar has dropped from its February level of 24,825 bolivar to 1 US$ to last Friday closing of 248,520 bolivar to 1 US$. The drop is 900%.
Which country is next in line ?
Luckily we have kicked out BN.
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2 comments:
Hi Uncle Chan,
Thanks for the analysis on distribution example... it will take me some time to digest... as it's not so clear cut like EMA and bollinger band... u had the USD / MYR chart previously, and i tot your 2.5 was possible but not sure how it can be achieved during previous administration... but after our new Tun took over, i tot it may be possible again... looking at the EURO crisis, i think this time money will flow to US and Asia from Europe.... just like what happened during Asian crisis where money flowed to Euro... but still for MYR, i think it may retest 4.30 to 4.40 again (without going above 4.5 or new high) before a Tun's move to change our monetary system... which may see ringgit going strong again for the next 10 years... just my thought...
regards and take care...
Hi Uncle Chan,
another new finding sharing with you, you can also use OBV on warrant... specifically company warrant... example please look at notion... i stumbled upon notion-wc OBV findings recently... cheers...
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