I do not consider myself a fool for not anticipating that electronic publishing of statistics would liberate the publisher from the tyranny of latecomers. It is not by accident that the things we do with computers resemble the things we used to do before we had computers. No matter how inventive we are, our imaginations are bounded ultimately by what we know.
A fixed-exchange-rate policy based on the nominal effective exchange rate would not offer such a hedge against any specific currency. BIS Review 53/2002  5  Real effective exchange rate in Sweden and Denmark  Chart 5  1980 = 100 110 105 100 95 90 85 80 75 70 65 60 1980  1982  1984  Sw eden  Note:  3.