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One might think that a country that had performed so well in terms of exports and investment would have relied heavily on interest rate and exchange rate levers, said McCarthy.
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Exchange rate.
The exchange rate.
The exchange rate may help.
The exchange rate is trickier.
The exchange rate helps.
First, the exchange rate quickly became overvalued.
The other is through the exchange rate.
What would the new exchange rate be?
The exchange rate had previously been fixed.
The immediate issue is the exchange rate.
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