On August 30, as soon as the Mexican banking system reopened, hundreds of overseas investors applied to use their securities accounts as collateral to convert them into US dollars.
And then there's the bond market. Although some bonds are denominated in US dollars and pay interest in US dollars, the bond market is also falling due to panic.
This situation is not related to the depreciation of the Mexican peso, but is mainly due to the political turmoil in Mexico, coupled with the sudden drop in the peso, which caused a chain reaction.
In the foreign exchange market, a large number of peso sell orders appeared as soon as the market opened on the 30th, surprising everyone at the Mexican bank.
They initially thought that the exchange rate would fluctuate as the peso fell, but this fluctuation would be temporary at most, and would remain within their expectations once the stock market stabilized.
This was merely their expectation; in reality, on the 30th alone, $8 billion fled the Mexican stock market.
That day, the Mexican bank did nothing but use its foreign exchange reserves to buy pesos on the market, then buy pesos again, then buy pesos again...
...
"Ring ring..."
Suddenly, the loud ringing of the telephone woke Chen Dong from his sweet sleep.
He peeked out from under the warm blankets, looked around groggily. It was getting dark, so it seemed there was still plenty of time.
Chen Dong glanced at his watch; it was 7:30 in the morning!
A helpless smile appeared on his face.
If it weren't for this phone call, he would definitely have continued sleeping, perhaps until noon or even the afternoon.
But he didn't intend to go back to sleep, because very few people would call this number, but if there was a call, it must be something very important.
He had been on edge for the past few days, and only relaxed after all the pesos had been exchanged. Unexpectedly, once he relaxed, he felt incredibly tired, with almost no energy left in his body.
As soon as he got home last night, he lay down on the bed and fell asleep without even taking off his clothes.
However, at this moment, he was no longer wearing any clothes and was only wearing his underwear.
It seems that Vivian Chow took off her clothes.
These days, Vivian Chow's condition is getting better and better, and she is able to take better care of herself.
I believe she will make a full recovery soon.
This is truly good news for Chen Dong, something to celebrate.
He would be willing to trade all his wealth for Zhou Huimin's health.
Because money can be earned back, but health is arguably the most precious thing a person has.
However, in life, we are often not in control of our own destiny, and although we may feel that many things are meaningless, we still have to do them.
Just like how much money I earn myself.
"Hello, this is Chen Dong." Chen Dong pressed the speakerphone button and threw himself onto the soft, comfortable bed. "Who is this?"
"Mr. Chen, it's me!" Li Xiaoman's voice came from the other end of the phone, sounding concerned and happy.
She continued, "Mr. Chen, congratulations!"
"Oh, you knew all along?"
Perhaps because of his recent thoughts, Chen Dong's voice sounded rather calm, unlike Li Xiaoman's cheerful tone.
"What's wrong, Mr. Chen? You don't seem very enthusiastic. Didn't you make money?"
"I did make some money."
"Yes, according to my information, the Mexican peso has depreciated by 14%, which means your profit exceeds one billion US dollars. You are really amazing, Mr. Chen, I really admire you."
Chen Dong's money was mainly used for investments in various places, and it was not easy to gather it all together at this time, let alone complete such a large investment.
Li Xiaoman then lamented, "Why can't HSBC follow in your footsteps? If they had invested more, they might have already made a fortune."
After all, she is the general manager of HSBC's Hong Kong branch. If she can obtain this benefit, her performance this year will be much better, and her summary report will have a more impressive result as a ballast.
Chen Dong took everything in stride, saying, "Hehe, you don't need to worry too much. You know me, so you dare to invest with me, but the banks don't know me, and they don't know their competitors, so even though you've tried to persuade them, they won't listen... They only believe in themselves and the words of those financial experts."
"Yes, that's how they are, and they get humiliated again and again."
When the topic came up again, Li Xiaoman was much calmer.
A while ago, he personally witnessed Li Xiaoman's anger and helplessness, and he tried to persuade her for a long time.
Finally, he said that they didn't have a financial expert like me, so they could only do the lowest-risk or low-risk things, and they couldn't care less about anything else.
Ultimately, banks, or the financial industry in general, are risk control systems because what they deal with is human nature, and human nature is the most difficult thing to predict.
"And what are you going to do then?" Li Xiaoman asked.
"What do you think?" Chen Dong didn't say anything more, and instead asked Li Xiaoman.
Li Xiaoman sighed. "As far as I know, the World Bank is carefully investigating Mexico's economic situation and discussing how to deal with this situation. Although they are making slow progress, I heard that one of the conclusions of their discussion is that Mexico cannot maintain the value of the peso and can only let it float freely in the market."
"Why are they so pessimistic about the peso?" Chen Dong asked curiously.
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