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Sterling Exchange Rate

Volume 33: debated on Tuesday 7 December 1982

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asked the Minister for Trade what assessment he has made of the effect of recent movements in the sterling exchange rate upon future levels of United Kingdom exports and imports.

[pursuant to the reply, 6 December 1982, c. 361]: In the short run a lower exchange rate may bring some relief to United Kingdom firms facing difficult competitive pressures abroad and in the home market. Nevertheless, it also means higher costs to industry. How long the benefit will last will depend, among other factors, on the ability of firms to contain their costs rigorously.