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Message: <blockquote data-quote="Hapuwa" data-source="post: 31077669" data-attributes="member: 165466">My assessment: how strong is this as a reason, relative to othersGiven the evidence, I’d rank the factors roughly like this (for recent sharp depreciation):1. Weak external fundamentals (high external debt, low reserves, weak USD inflows) — major cause2. Global environment (strong USD, emerging markets under pressure) — major cause3. Domestic demand for USD (imports, relaxing restrictions) — significant cause4. Expectations / confidence effects (investor behaviour) — very important5. The local USD-bond issuance — plausible contributing factor, but likely a secondary cause.In short: the USD‐bond approval is a factor but not the main reason on its own.chatgpt</blockquote>

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