HC Deb 30 November 1967 vol 755 c178W
Mr. Thornton

asked the Chancellor of the Exchequer, in view of the damage which the cotton trade in the United Kingdom is likely to suffer as a result of the difference in exchange rate which now exists between the currency of many of the scheduled territories and the £ sterling, due to the fact that the trade has consistently been refused permission to obtain cover in the foreign exchange market, if he will ensure that this facility is now given to them.

Mr. Diamond

Consideration is being given to this; but the Government cannot at present anticipate any change in the present rule under which United Kingdom residents are allowed to buy foreign exchange forward only in respect of future commitments in foreign exchange.