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Exchange Rates

Volume 955: debated on Tuesday 24 October 1978

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asked the Chancellor of the Exchequer if, pursuant to his answer, Official Report, 6th June, column 123, concerning changes in trade-weighted values of various currencies since 1st January 1978, he will update the table to the latest available date.

Updated versions of the tables I gave in that reply are as follows:

PERCENTAGE CHANGES IN EFFECTIVE EXCHANGE RATE INDICES
3rd January 1978 to 16th October 197817th October 1977 to 16th October 1978
Japan+26·0+30·1
Switzerland+17·8+32·3
Germany+3·8+8·3
Denmark+3·6+4·0
Netherlands+1·5+3·4
Austria+1·5+4·1
Sweden+0·8-0·1
Belgium+0·7+3·8
France+0·60·0
Italy-2·2-5·7
Australia-4·8-6·1
United Kingdom-5·9-0·4
Norway-5·9-3·4
United States-8·8+13·4
Canada+10·7+11·0
Effective exchange rate indices for other OECD countries are not available. Changes in their cross-rates against sterling have been as follows:

PERCENTAGE CHANGE IN EXCHANGE RATES AGAINST STERLING
3rd January 1978 to 16th October 197817th October 1978 to 16th October 1978
Spain+10+6
New Zealand+1-3
Finland-2-9
Greece-10-12
Portugal-18-25
Turkey-39-44
Iceland-50-66

asked the Chancellor of the Exchequer if, pursuant to his answer, Official Report, 6th June, column 124, concerning changes in trade-weighted values of various currencies since the end of February 1974, he will update the table to the latest available date.

The information is as follows:

Percentage changes in effective exchange rate indices
End February 1974 to 16th October 1978
Switzerland+76
Japan+50

Germany+27
Austria+25
Netherlands+15
Belgium+13
Denmark+9
Norway-2
France-2
Sweden-4
USA-15
Canada-18
UK-27
Italy-34