Currency Drops Don’t Always Usher In Export Booms

March 13, 2015 4:06 AM

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Currency Drops Don’t Always Usher In Export Booms

In late 1992, the British pound began a precipitous fall that erased nearly a third of its value against the dollar in just six months.

The depreciation, sparked in part by a huge speculative bet by George Soros against the pound, helped jolt the U.K. out of recession. Export growth popped from a measly 0.2% in 1991 to 9% by 1994 as cheaper British goods and services became more attractive for buyers overseas. Hiring picked up. Econ...

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