The point where importers and exporters are equally unhappy
08 June 2023 - 04:00
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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
The FM welcomes concise letters from readers. They can be sent tofmmail@fm.co.za
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: The ideal exchange rate
The point where importers and exporters are equally unhappy
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
The FM welcomes concise letters from readers. They can be sent to fmmail@fm.co.za
LETTER: ‘Currency strength’ is a misleading term
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