Has it ever happened that a team's victory or loss in a sports competition affected the exchange rate of the national currency?

Has it ever happened that a team's victory or loss in a sports competition affected the exchange rate of the national currency?

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answers (2)

Answer 1
August, 2021

A famous episode of world history is the 1969 "Football War" between El Salvador and Honudras. Dissatisfied with the loss of one of the matches, the Salvadorans beat the Hondurans on the streets, they in return rescued the Salvadorans. An international scandal erupted, a few days later diplomatic relations were severed and military mobilization was announced. Then hostilities began - mainly mutual air raids of medium intensity - the Salvadorans captured part of the territory of Honduras. But then an armistice and the end of the war followed - in total it lasted for several days, but several thousand people died in it.

And one of the most important economic consequences of these events was the collapse of the economic union between the states of South America - in the early 1960s. At the same time, several states, including Honduras and El Salvador, were planning something like the current EurAsEC. Of course, because of the war, the economies of both countries were seriously affected, and mutual trade stopped. This is how football turned out.

Answer 2
August, 2021

I do not know about the exchange rate, but there is research on the relationship between the results of the national team and the behavior of the stock market.

Here, for example, it is argued that the defeat of the Turkish national football team negatively affects the Turkish stock index, while victories don't matter:

http://kutuphane.pamukkale.edu.tr/dokuman/d001774.pdf

There is still a study for many countries, but unfortunately, its text is not publicly available:

http://www.tandfonline.com/doi/pdf/10.1080/00036841003689762

Another article finds a connection between football (and rugby, basketball and cricket) defeats and falls of the stock market:

http://onlinelibrary.wiley.com/doi/10.1111/j.1540-6261.2007.01262.x/abstract

Finally, there is even an article that after the victories of local sports teams in the United States, incumbents (politicians in power) receive "additional" votes in the respective regions in subsequent elections (moreover, both at regional and federal):

http://www.pnas.org/content/107/29/12804.short

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