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Mr. Stonehouse
asked the Chancellor of the Exchequer what is the value of the £ sterling in terms of the US $ at the latest convenient date, as compared to February 1974; and what is the latest internal purchasing value of the £ sterling compared to the same date.
Mr. Dell
The sterling-dollar rate at the close on 2nd February was 2·0285, compared with a monthly average rate of 2·2743 in February 1974.
The internal purchasing power of the pound at the latest available date, December 1975, was equivalent to 69½p, compared with a purchasing power of £1 in the same month of 1974.