Paul Malherbe

While Alan Fine’s article, "Let’s rethink R6,40 dollar" covers a highly topical subject, he has nothing to say about the cause of the wide fluctuations in South Africa’s exchange rate. Fine is not alone in doing so, as none of our politicians addressed the problem at any stage during the recent election campaign, writes economist Paul Malherbe. Inflation targeting and a floating exchange rate are incompatible.