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[sharechat] The currency

From:	"Oliver Shapleski" <oliver.shapleski@vuw.ac.nz>
Date:	Fri, 19 May 2000 19:00:18 +1200

Why oh why did I hear a news source suggest that a lowering currency is bad for our sharemarket???

On the one hand, ok, perhaps it will discourage investors because there is a perception that it will continue to drop. Justified.

On the other hand, the shares are getting cheaper by the day for overseas investors, meaning the NTA discounts are getting larger and larger, the exports will be theoretically increasing as overseas buyers see our goods getting cheaper.

Surely the ONLY thing about our currency that is depressing our sharemarket is the fact that Brash and cronies are not letting it devalue fast enough. For goodness sake, why don't they just let it freefall to US35c and get on with it? Or at least jack it up properly....

Oliver

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