(Slide 5) Ladies and gentlemen, when all think likewise in the market, no one actually does any thinking. When the market consensus is achieved, markets grow more vulnerable than ever. We were not swayed by persuasions of many that Brexit would not take place, or that surveys in the USA hinted at an unambiguous outcome of the presidential election.
We were prepared for the “unexpected” and not for a moment did we let the turbulences roil the domestic market and reflect on the exchange rate. In times of tranquillity we were honing our defence system for the upcoming pressures, while in the times of turbulences we invested wisely in stability. From January 2008 to August 2012, the dinar lost 33.2% against the euro.