§ Mr. Godon Wilson
asked the Chancellor of the Exchequer if he will list in the Official Report the change in exchange rate from January 1976 to the most recent convenient date between the £ sterling and a basket of relevant major currencies, including the percentage devaluation or revaluation as appropriate in each case.
§ Mr. Lawson
Sterling's effective exchange rate, which is calculated using a basket of 17 currencies, appreciated 9W by 4.6 per cent. between January 1976 and 25 February 1981. Sterling's appreciation/depreciation against the major currencies was as follows:
per cent. United States dollar +9.8 Deutschemark –10.7 Japanese yen –25.1 Swiss Franc –19.2 French franc +21.2