§ 3. Mr. HANNONasked the Under-Secretary of State for India whether his attention has been drawn to the decision of the Stock Exchange fixing the exchange value of the rupee at 1s. 4d. for the purpose of dealing in rupee securities on the Stock Exchange; and whether, under these circumstances, any change will be made in the official rate?
§ Earl WINTERTONMy attention has been drawn to the reported decision of the Stock Exchange Committee to which my hon. Friend refers. It is open to the Committee to take such decision as they think fit, as a matter of convenience for the purpose of facilitating dealings in rupee securities on the Stock Exchange; but this does not affect the official policy, which is based on an entirely different set of circumstances.