A government that spends too much and maintains an overvalued currency cannot forever defy the laws of arithmetic.

The strategy and running an overvalued currency worked.

Much of the capital borrowed in the 1980s went towards propping up this overvalued currency.

In the early 1970s, the performance of the export sector was undermined by an overvalued currency.

In later years, he wrote extensively about the damage caused to a developing economy by inflation and an overvalued currency.