HL Deb 08 November 1976 vol 377 cc171-2WA

asked Her Majesty's Government:

Whether they will publish a table showing the value of:

  1. (a) the pound sterling;
  2. (b) the "green pound",
on the first day of January and July in 1973, 1974 and 1975; and on the first day of each month during 1976.


The United Kingdom representative rate and the market rate for the pound used for fixing the monetary compensatory amounts applicable on the dates requested are tabulated below. The market rate given is the exchange rate for the pound with the arbitrarily defined unit of account. It does not reflect the performance of the pound against all world currencies but only against Community currencies in the joint float. No figures are given for 1st January 1973, since the United Kingdom was not then applying the Community's agricultural arrangements.

Following is the table:—

Market rate Representative rate
(UA per £) (UA per £)
1st July 1973 2.00580 2.16440
1st January 1974 1.90217 2.16440
1st July 1974 1.87803 2.16440
1st January 1975 1.76273 2.00530
1st July 1975 1.63671 1.96178
1st January 1976 1.63047 1.75560
1st February 1976 1.63047 1.75560
1st March 1976 1.63047 1.75560
1st April 1976 1.54109 1.75560
1st May 1976 1.47673 1.75560
1st June 1976 1.45487 1.75560
1st July 1976 1.43469 1.75560
1st August 1976 1.45164 1.75560
1st September 1976 1.41401 1.75560
1st October 1976 1.34861 1.75560


(a) The rates given above for the pound sterling are the average weekly market rates used for the purposes of calculating the MCA percentage which since 4th June 1973 have been calculated in terms of the Community joint float currencies. Before this date the rate was calculated in terms of the US dollar.

(b) In certain cases changes in representative rates took effect on later dates for particular sectors.