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Mr. Gow
asked the Chancellor of the Exchequer to what extent gross official reserves have declined since he wrote his letter to the Chairman of the International Monetary Fund on 18th December 1975.
Mr. Robert Sheldon
The official reserves stood at $5,429 million at the end of December 1975, and at $5,158 million at the end of September 1976, a fall of $274 million between the two dates.