Draghi Said to Share Exchange-Rate Views

BUDAPEST—European Central Bank President Mario Draghi has told fellow central bankers that a euro exchange rate above $1.30 harms the competitiveness of southern European exports, said the head of Hungary’s central bank.
“President Draghi tells us every single time in Basel that as long as the euro is not that strong against the dollar—it’s at $1.1—the Club Med countries remain competitive on the global market, but they are not any longer with a euro-dollar of $1.3. And that a [euro-dollar rate of] $1.6 is only…

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