Counterattack 1990

Chen Dong woke up and found himself reborn in 1990, a time when gold was everywhere. Carrying the regrets of his past life, he started by selling tea eggs...

Financial crises, oil crises, gra...

Chapter 823 On the Eve of Peso Devaluation!

Silas' eyes were slightly narrowed, and he looked exhausted, but he still listened attentively to the advisory team's report, listening to them use countless technical terms.

He listened for a long time but still couldn't understand what they meant. Finally, he got impatient, stood up, straightened his back, and asked, word by word.

"So, what are your thoughts? Any suggestions on what we should do?"

The experts looked at each other in bewilderment. After a long while, one of the older experts spoke up.

"After discussions with the banks, we both agreed to a 14% devaluation."

14%?

Silas's mind went blank; he simply couldn't believe his ears.

He promised 7% when he left, but it's already risen to 14% in just one afternoon? You know, even the Mexican bank initially only gave a figure of 10%.

Beautiful country.

On that day, a massive sell-off of pesos, amounting to nearly $500 million, occurred as soon as the market opened, forcing the Mexican bank to intervene.

This scene immediately attracted the attention of the foreign exchange trading departments of major commercial banks.

They discovered that an organization was suppressing the Mexican peso, and that the daily exchange volume was very high, averaging over $100 million.

More importantly, there appears to be more than one of these institutions.

Of course, from the very beginning, they did not believe that these short-selling institutions could bring down Mexican banks with just a few large orders.

However, for several days in a row, the relevant institutions were only selling pesos for dollars, but never buying any. It wasn't until the foreign exchange reserves started to flow out at an accelerated pace that they finally realized something was wrong.

......