10 currencies that lost value in September (and how bitcoin fared)

Basic facts:
  • Currencies such as the pound and the yen fell against the dollar, as did Latin American currencies.

  • Bitcoin also had a red month, but it was the only one that appreciated the long-term outlook.

in 2022 September. was the common denominator of many currencies, which was their depreciation against the US dollar. For its part, bitcoin (BTC) has had its ups and downs, but it is not exempt from the global trend.

The pound sterling This was one of the most striking cases. Legal tender in Great Britain started the month at $1.15. It reached $1.06 in the last week of September, minimum pound value that is not reached for 37 years, as reported by CriptoNoticias. Its price then rose to close the month at $1.11.

Other currencies are also considered “strong” around the world they fell in value against the US dollar. For example, he euros September began in parity with the dollar, but ended the month at $0.98. The yuan chinoOn the other hand, it rose to $0.1405 from $0.1451.

Also, Australian dollar started the month at $0.67 but closed at $0.64. Similarly, yen Japan rose from $0.0071 to $0.0069 during that period.

Finally, there is one more added to this trend Canadian dollar. This currency started the month at a price of $0.76. However, within 30 days, the currency depreciated to $0.72 at the end of September.

euro price chart
Euro, the only currency that “stands in” against the US dollar. Source: Trading View.

How Latin American currencies fared

The devaluation suffered from many Latin American currencies This has already been reported several times in this medium. Unfortunately, September did not mark a turn in this trend.

The Argentine pesoin one of Latin America’s most iconic devaluations, the official exchange rate went from $0.00683 to $0.00639. The Venezuelan bolivar it was also undervalued last month. Its value decreased from $0.1266 to $0.1224. It is worth clarifying that since 2007 14 zeros were removed from this currency as a resource to “stop” hyperinflation. Given this manipulation of the value of the bolivar, its current price against the dollar would be $0.000000000000001224.

Comparison of dollar and bolivar
Value of the Venezuelan Bolivar against the US Dollar in September. Source: Trading View.

Meanwhile, Colombian peso September. started at $0.00022 and although it remained above that line for several weeks, September. ended at $0.000216.

The case for Mexican peso it’s a little different. When September started, the coin was worth $0.04943. For most of the month (around the 2nd to the 23rd), MXN strengthened against its US counterpart, reaching $0.04960 in recent days.

Bitcoin had a stable month but ended in the negative

Global macroeconomics is in the midst of turmoil, and stock markets are experiencing their own the worst September in 20 years, bitcoin closed the month with a negative change of 2.5%. Over the course of 30 days, the cryptocurrency with the largest market capitalization traded from $19,998 to $19,500.

Thus, the cryptocurrency created by Satoshi Nakamoto outperformed some fiat currencies mentioned here, whose fall was almost 10 percent. Yes, if you consider its price fluctuation since September 1st. until the 30th, regardless of the volatility of the intervening days.

However, it should be noted that bitcoin has appreciated over time, unlike the national currencies mentioned above. Since 2017 so far, Satoshi Nakamoto’s invention has increased its own quote from approximately $4,000 to $19,400 as indicated in the closing schedules of this note.

Source: www.criptonoticias.com

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