The National Institute held a meeting on 6 June 2000 at the House of Commons and hosted by Dr Vincent Cable MP to discuss the high exchange rate. The panel of speakers comprised Mr Ed Balls (HM Treasury), Lord Lawson, Dr Vincent Cable MP, Dr Diane Coyle (The Independent), Mr Gerald Holtham (Norwich Union), Mr Anatole Kaletsky (The Times) and Mr Martin Weale (National Institute of Economic and Social Research). The meeting was chaired by Sir Peter Middleton. Contributions by the speakers were followed by discussion from the floor. This record of the meeting is intended to provide a contribution to the continuing debate about the exchange rate which stood at £1 = €1.59 on the day of the meeting.