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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Henry Volquardsen who wrote (233)6/23/1998 9:18:00 AM
From: Chip McVickar  Read Replies (2) of 3536
 
Henry,
South Africa's in the news this morning with interest rates up to 23.9%.
In an attempt to defend their currency. They obviously do not have
enough reserves to defend against the dollars strength.

Has a floating repo rate ever successfully supported a currancy..?
Lot of questions here as to wheither any developing nation, even
of S. Africa's sophistication can survive an international curreny
speculative challenge. When the ECU becomes stronger there maybe an
attempt at some form of international regulation.
Chip
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