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Pound Sterling

Volume 79: debated on Thursday 16 May 1985

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asked the Chancellor of the Exchequer, pursuant to his reply, Official Report, 22 April, column 374, concerning the exchange rate of the £ sterling against certain European monetary system currencies, if he will indicate the changes in the fluctuation margins; if he will add the April 1985 figures to his previous answer on the December 1982 basis, and on the basis of the margin relevant in April; and if he will indicate the number of occasions on which the £ sterling moved outside its notional fluctuation margins on the basis of the changes in the margins which have occurred since 1982.

[pursuant to his reply, 15 May 1985 c. 153]: The following table lists the months in which sterling's monthly average exchange rates against currencies in the EMS exchange rate mechanism have moved outside sterling's notional fluctuation margins since the end of 1982. The margins used are those current at the time in question. For April 1985, both the current margins and the December 1982 margins are used: