Does "downwards" mean "then" here?

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anhnha

anhnha

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Firstly, the currency has stabilised for now – the unofficial rate spiked sharply downwards and hit a low of VND19,450 per US dollar in early June.
What does "downwards" mean here? Does it mean "then"?
I am confused because "spiked" and "downwards" seems contrary.
 
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iannou

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The spike referred to is a steep vertical line as seen on a graph of a value over time. Gradual changes make smooth curves, sudden ones make spikes. I agree that "spiked" and "downward" seem to be at odds. I'm used to thinking of a spike as an increase in a rate, but the writer is talking about a sudden negative change and a spike in the downward (top to bottom) direction.
 
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