For example Turkey lopped 3 zeros from their currency, Venezueala recently lopped some zeros, so did argentina, did they change the value of the stocks that people already owned in the companies in those countries?
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November 29th, 2008 at 4:53 am
You gave a different example to what you asked.
When a country changes over to a new currency, the market should make a small correction until humans adjust to the new currency, and that is about all that should happen.
But when a country’s currency is devalued in worth due to inflation or deflation then the stock market will also make a correction as it again adjusts to humans getting used to the currency value changes.
November 29th, 2008 at 4:53 am
they just convert everything to whatever the currency conversion was - nothing is affected really