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To: TobagoJack who wrote (244077)	6/5/2003 10:31:45 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

as explained to tippet small business in a weak economy is hurting even more

To: TobagoJack who wrote (244077)	6/5/2003 11:21:34 AM
From: Haim R. Branisteanu	Respond to of 436258

To reinforce what I just wrote - had a discussion with a commercial banker this morning. He handles business with revenues of $10 to $30 million. One of his clients opened an L/C in EUR last Friday and the bank officer forgot to buy him EUR to hedge. The bank was forced to pay $20,000 on Monday due to currency fluctuation. For a small business $20,000 in one working day is substantial money. BTW the EUR is up over 2% since yesterday and 1.9% since this morning