HC Deb 03 February 1970 vol 795 cc94-5W
Mr. Kenneth Baker

asked the Chancellor of the Exchequer what estimate he has made of the increase in the gold and convertible currency reserves, to the latest available date, following the introduction of the requirement that 25 per cent. of the proceeds of any sale of dollar securities should be exchanged with the authorities at the official rate of exchange.

Mr. Taverne

The 25 per cent. scheme had contributed over $1,000 million in foreign currencies to the official reserves between its introduction in April 1965 and the end of November, 1969.