§ Sir C. Osborne
asked the Chancellor of the Exchequer what is the size of the dollar portfolio, and what is the average rate of interest it earns; and what is the average rate of interest paid on sterling balances which carry a dollar convertible guarantee held in securities in London.
§ Mr. Harold Lever
The Treasury dollar portfolio has been liquified and was finally amalgamated with the official reserves of gold and convertible currencies in November, 1967. No separate estimate is available of the average rate of interest paid on sterling balances which carry a dollar guarantee, and I have therefore nothing to add to the Answer about interest on sterling balances which my right hon. Friend the Chancellor of the Exchequer gave the hon. Member on 15th October.