The fact that our region and our country are now recognized as important stops on a major north-south route for illegal drugs, further increases our vulnerability. Third, money launderers are tenacious in probing financial systems for gaps, and creative for devising new methods to overcome safeguards.
2  BIS central bankers’ speeches  More important issues relate to the long term drivers of the exchange rate and the implications of the exchange rate being overvalued. When the Reserve Bank talks about an overvalued exchange rate we usually mean that the exchange rate is too high to achieve desired economic outcomes such as an appropriate allocation of resources.