31. Investors already are wary of doing business in Romania because of its ambiguous legislation and overvalued currency . 32. And the Brazil case makes absolutely clear that the first step is not to defend overvalued currencies . 33. "But if it's a result of an artificially overvalued currency , then we start to cry foul ." 34. Speculators were drawn to the region by the economies'high trade deficits, overvalued currencies and other economic problems. 35. With a overvalued currency , the Southeast Asian countries were pricing themselves out of Japanese and the European markets. 36. The artificially overvalued currency ( silver ) drove the artificially undervalued currency ( gold ) out of circulation. 37. He said that by sticking to its current policies Brazil could resolve the overvalued currency within two years. 38. Duhalde's task is gargantuan : Industry is crippled and uncompetitive, thanks to an overvalued currency and rigid labor laws. 39. After Mexico, what major Latin country has an overvalued currency , a growing appetite for imports and a new president? 40. In the past, Sachs has harshly criticized the IMF for supporting Brazil's former policy of maintaining an overvalued currency .