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Mr. Austin Mitchell
asked the Chancellor of the Exchequer, further to his written reply dated 5 July concerning the exchange rate between the £ sterling and the ecu, whether he will publish in the Official Report a table showing for each month since March 1983 the average movement of the sterling divergence indicators.
Mr. Ian Stewart
The information requested is in the table:
| £ divergence indicator*—monthly averages since March 1983 | |||
| 1983 | 1984 | 1985 | |
| January | -147 | 321 | |
| February | -90 | 276 | |
| March | 425 | 30 | 146 |
| April | -236 | 61 | -19 |
| May | -218 | -3 | -76 |
| June | -101 | 49 | -121 |
| July | -100 | 73 | |
| August | -174 | 31 | |
| September | -150 | 21 | |
| £ divergence indicator*—monthly averages since March 1983 | |||
1983
| 1984
| 1985
| |
| October | -78 | 97 | |
| November | -146 | 130 | |
| December | -124 | 178 | |
* The divergence indicator is calculated by expressing the ecu's premium or discount against sterling (that is the percentage deviation of sterling's market ecu rate from its notional central rate) as a percentage of sterling's maximum divergence spread (ie 1·91 per cent.) if it were a normal member of the mechanism. | |||