The Election-Devaluation Cycle
In 1975, the Nobel laureate economist William D. Nordhaus suggested that developing economies might seek to prop up the value of their currencies before an election, only to undergo a devaluation soon after. Recent experiences in Nigeria, Turkey, Argentina, Egypt, and Indonesia seem to bear this out.
https://prosyn.org/NAQBk1A
CAMBRIDGE – The proposition that major currency devaluations are more likely to come immediately after, rather than before, an election is being tested anew. In the biggest voting year in history, the implications could be far-reaching.