Rounding up and smoothing

The correspondent who contributed the item about "smoothing the euro" (January 25) seems not to know the difference between the terms "rounding up" and "smoothing".

Using the same examples given, what one used to buy for Lm1.50 should be sold for €3.49, since 1.50 divided by 0.4293 is equal to 3.494 and hence arithmetically cannot be "rounded up" to 3.50. If you work the other way round, something costing €3.49 is equivalent to Lm1.498, which in this case, arithmetically, can be rounded up to Lm1.50.

"Smoothing" of the euro is a totally different arithmetical exercise.

Taking the same example as above, an object which used to cost Lm1.50 should be sold for €3.49. As per Maltese law, if the person selling thinks that that .49 euro cents will complicate his/her work, it is allowed to "smooth down" to €3.45 while "smoothing up" to €3.50 is simply illegal.