Letter: Secrets of a reliable fixed exchange rate
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Sir: If, as Government spokesmen and many of your commentators suggest, devaluation is always wrong, is revaluation always right? If not, is there one appropriate exchange rate which policy makers can accurately judge that remains correct for long periods? Or is it simply that if you make a mistake in selecting a fixed exchange rate, you must never admit it or the markets will compound the
error?
Yours sincerely,
PETER GRIPAIOS
Head, Economic Research Centre
Plymouth Business School
Plymouth, Devon
12 August
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments