Cash Crisis: National Currencies Plunge in the Wake of Coronavirus

Cash Crisis: National Currencies Plunge in the Wake of Coronavirus

Gate Trade News Wednesday, March 25, 2020 17 0

Fiat currencies across the globe have experienced sharp declines in the wake of the coronavirus panic, with the Norwegian Krone falling over 30% lately last week. The Mexican peso and Australian dollar trailed close behind over the same period, with multiple fiat currencies also taking a nosedive. Though USD remains strong, some speculate this is due to flight from other markets, and that the bastion of fiat strength might not be able to withstand endless printing and reckless credit creation of QE much longer.