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Exchange Rate Mechanism

Volume 164: debated on Monday 18 December 1989

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To ask the Chancellor of the Exchequer what are the components of the trade weighted index for pound sterling's exchange value; and what precentage of the weighting is accounted for by currencies linked to the exchange rate mechanism.

I refer the hon. Member to the "Economic Progress Report" for December 1988, published by her Majesty's Treasury, copies of which have been placed in the Library. Of those countries represented in the index, Germany, France, Belgium, the Netherlands, the Republic of Ireland, Spain and Denmark participate in the exchange rate mechanism.