It cannot be more than a tight narrow managed float…It won’t float when the rate changes because their budgets are calculated off the currency value. If it had a significant float and the currency has a significant value change, that means the budget is completely miscalculated. So every time the rate changes, they would have to redraft and amend the budget’s figures. They’re not going to do that. That’s why it’s a narrow managed float in a tight window. :Jeff
