I wrote a question a little more than a year ago about the rapid rise (due to inflation) of Venezuela’s stock market, the Caracas Generale.
The market had a “pretty good year” just by the raw numbers, climbing from 1,981 around January 1st to 504,835 at yesterday’s close, an increase of more than 25,000%; I understand (reasonably) that this was driven by hyperinflation rather than any meaningful increase in assets, etc.
What I want to know is: why this drastic change? Sure, the market may have been misleading, but something must have happened to account for this incredible drop - a difference in how it is calculated (for instance, in terms of USD instead of the Venezuelan currency?) but I can’t find any information anywhere.