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Low-Value Coins (International Comparisons)

Volume 974: debated on Sunday 11 November 1979

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asked the Chancellor of the Exchequer how the value of the halfpenny compares with the lowest denomination coin in the currencies of the other OECD countries.

[pursuant to his reply, 22 November 1979, c. 327]: It is possible to make estimates of this kind both on the basis of market exchange rates and purchasing power parities—that is taking into account differing price levels. Figures for the latter are available only for a narrow range of countries. Comparison on the basis of market exchange rates produces the following: