LETTER: The ideal exchange rate

Philip Mohr’s comments (“Currency Strength is a Misleading Term”, Letters, June 1-7) remind me of what a hard-bitten currency trader told me some decades ago:  “The ideal exchange rate can only be found at that point where importers and exporters are equally unhappy.”

After spending a lifetime in banking, I can confirm that statement is completely irrefutable.

David Chaplin
Simon’s Town

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