HC Deb 21 September 1948 vol 456 c53W
63. Viscount Hinchingbrooke

asked the Chancellor of the Exchequer what are the present U.S. dollar holdings of the banks of Malaya; what fraction of these holdings is required by current transactions; and whether he will propose to the Malayan Governments that the balance be released to the United Kingdom against sterling.

Mr. Jay

Apart from reasonable working balances, all dollar receipts surplus to current approved requirements in Malaya are sold in London against sterling. The second part of the Question does not therefore arise.