HC Deb 03 February 1948 vol 446 c1641
66. Mr. Keeling

asked the Chancellor of the Exchequer whether he will publish in the OFFICIAL REPORT lists of countries considered at the present time to have hard and soft currencies, respectively.

Sir S. Cripps

No, Sir. There is no such hard-and-fast distinction as the Question implies. The position of each currency in relation to sterling is constantly varying and a list showing the position at any particular moment would soon become misleading.

Mr. Osborne

Are there any varying degrees of softness and hardness, and what really constitutes a soft currency?

Sir S. Cripps

Certainly, there are constantly changing and varying degrees.

Mr. Erroll

How, then, can manufacturers tell to which countries their exports should be directed?

Sir S. Cripps

From time to time they are given advice by the Board of Trade as to which are at the moment the more important currencies.