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Exchange Rates

Volume 485: debated on Monday 8 December 2008

To ask the Chancellor of the Exchequer what assessment he has made of the potential effects on sterling of the scale of bank deposits and other short-term instruments held by non-residents. (240262)

Exchange rates are determined by a range of factors. The Government’s objective is for a stable and competitive exchange rate in the medium term, consistent with meeting the inflation target.