HC Deb 20 April 1948 vol 449 c123W
63. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer the amount of unfunded sterling balances that have been transferred from one holder to another in each year since the end of the war.

Sir S. Cripps

Transfers of sterling between countries or monetary areas outside the sterling area or the scheduled territories amounted to £10 million in the second half of 1948, £67 million in the year 1946 and £275 million in the year 1947. These figures are a measure of the multilateral use of sterling between countries in the non-sterling area and are not, of course, an indication of changes in the aggregate of these countries' sterling balances