I Inherited 5,000 Years of Family Property-Chapter 648 - 646: Big Trouble

24 orders, that's 24 billion US Dollars!

This market nearly handles the country's entire foreign exchange transactions, with an average annual total transaction volume reaching around 30 trillion US dollars, averaging to about 100 billion US dollars in daily trading volume.

But this 100 billion US dollars in total volume involves exchanges among various currencies, what total volume? You sell to me, I sell to you, it's not a unilateral buying and selling!

These 24 short orders, totaling 24 billion US dollars, already exceeded the exchange's regular reserves of foreign currency. After all, under normal circumstances, who would suddenly place orders for 24 billion US dollars? Their reserves of a few billion US dollars were usually enough to cover daily operations.

"Everyone come here, there's something wrong with these orders!"

Such massive short orders indicate that the other party has a lot of US dollars; otherwise, they couldn't place such large orders so casually. In the trading market, the maximum leverage is 10 times, even if the other party used ten times leverage, they must have at least several billion US dollars in hand!

Several billion US dollars in liquid assets, even a country can't easily produce that amount!

"It could be major international speculative capital making trouble!" Some experienced traders immediately got a sensitive sniff.

"To be able to come up with such a huge amount of funds to attack our foreign exchange market, this is definitely not ordinary international speculative capital!"

"Liu Xingyao, go report this, we might need to request access to the bank's foreign exchange reserves at any moment!"

"Group leader, is it necessary to be this nervous?" someone questioned.

"I suspect these funds are definitely not all the funds the opponent has in their hands!" the experienced group leader Wang Chendong said. He was nearing 50 years old and had been in this industry for 25 years. He had experienced many economic crises, his sense of smell was extremely sharp, and most importantly, he was very experienced!

"Normally, if the opponent only has this much capital on hand, they would choose to carry out such operations close to the close of the market, because at that time people's attention is often the most lax. Whether it's in foreign exchange or stocks, pressing down prices at this time, it's difficult to remedy the situation timely within the same day."

"But they came out with such a big amount of funds right from the start, this means they are telling us this is just an appetizer, they have even bigger funds behind it!" Wang Chendong's face broke into an excited smile, it had been a long time since he encountered such an opponent.

A 24 billion US Dollar short order directly caused today's Huaxia currency exchange rate to plummet by 500 basis points!

9:30, many foreign exchange investors were rudely awakened from their sleep.

Many wealthy individuals make money through the foreign exchange market, and typically have specialized teams that manage these assets for them. They only need to provide the funds and let these professional institutions handle everything.

But today, just after they logged into their accounts, the startling figures made them panic.

"What's going on? Why did it drop 500 basis points right at the start? Millions of US Dollars just evaporated?"

"What exactly are you guys doing? I entrusted you with my funds, tens of millions of US Dollars, and earned only 2 million US Dollars in a year, and now it's all gone in one morning?"

"Mr. Zhang, please don't worry. I'll call right away and ask. It might just be an adjustment at the market opening, and it could stabilize soon!"

Updat𝓮d fr𝙤m ƒгeeweɓn૦vel.com.

....

The account holders panicked, and the exchange suddenly became frenzied. One call after another poured in asking what exactly was going on; some even demanded to cancel orders to stop losses, turning the scene into complete chaos.

The initial drop of 500 basis points was merely the beginning and a signal.

For instance, if a company's market value drops significantly, it largely indicates issues in operations and losses, signaling a bleak outlook for its future. The situation is similar in the currency market.

The method to counter short-selling is to go long, and this operation equally requires money!

Since the opening of the market, the rate had already fallen by more than 800 basis points! The currency market isn't like the stock market, which has limits on how much it can rise or fall; as long as the momentum isn't stopped, it can keep dropping!

There have been instances where some countries' currency value fell by up to 40% in a single day, indicating how intense the battle in the foreign exchange market can be.

"Apply for foreign exchange funds from above right away, start going long; we can't let them push the rate down!"

"Roger!"

The dozens of traders in the group immediately got to work, and dozens of buy orders were placed, injecting hundreds of billions of US Dollars directly into the currency market.

Surely, the downward trend in the rate soon stabilized, briefly bouncing back to around a 600-point drop and began to recover slightly.

Everyone breathed a sigh of relief, but they were well aware that the opponent's attack had just begun, and what followed would be a real war without smoke!

...

"Group leader, the people from Huaxia have started going long to counteract our short-selling orders, 200 billion US Dollars, the rate is already recovering."

"They have taken the bait!" In the European division, the leader smiled, "A 200 billion US Dollar order, although not much, still makes for a good appetizer. Let's first take a few billion dollars from them, and keep playing!"

"Their authority can barely access a few hundred billion US Dollars at most, to increase further, they'd need to use the foreign exchange reserves of major banks, which won't be available in minutes, giving us plenty of time to make our moves!"

He immediately ordered, "Keep dumping!"

...

"Group leader! They've placed over 20 more short-selling orders!"

"Keep going long, if we're short of people, pull from other groups!"

"Group leader, these... these short-selling orders total over 500 billion US Dollars now, we don't have enough US Dollars in reserve at our exchange!"

Wang Chendong's expression suddenly changed, this was really bad!