The currencies depreciation

Issued on 4 May 20

The currencies depreciation major countries since Jan 2020: South African Rand depreciated by 26% against the US dollar; Brazilian real depreciated against the US dollar by 24%; Mexican peso depreciated 22% against the US dollar; Russian ruble depreciated by 19% against the US dollar; Turkish lira depreciated by 15% against the US dollar; Australian dollar depreciated by 10% against the US dollar; Argentine Peso depreciated 9% against the US dollar. Thai baht depreciated 8% against the US dollar; Sterling depreciated against the US dollar by 7%; Indian rupee depreciated 7% against the US dollar;

Kind reminder:

A country's local currency depreciates significantly, the import cost will be increased, and some importers may choose to abandon the goods, refuse

to accept, delay payment, or even not pay to avoid losses.

Therefore, closely monitoring the exchange rate changes in the buyer's market is conducive to export companies to grasp market changes in advance and reduce risks

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