the currency dropped below 60 with a view toward 70 next yr this is got to hurt coliar sourcing firms valuation and earnings.
currency mkts have zero confidence in chief #$%$'s ability to steam capital flight by finding new suckers
to cover current account deficit and econ decline on high interest rates and runaway inflation. All this will drive up coliar costs and hit earnings by constraining margins. Some one tell the manager at the motel 6 those 12 smellies in room 113 might not be able to pay their bill as they're paid in coliar currency.