HC Deb 15 November 1985 vol 86 cc316-7W
Mr. Soames

asked the Chancellor of the Exchequer what steps he has taken to seek to reduce fluctuations of the exchange rate.

Mr. Lawson

[pursuant to the reply, 14 November 1985]: I took part in the meeting of the Group of Five Finance Ministers and Central Bank governors in New York on 22 September, when we agreed that exchange rates should better reflect fundamental economic conditions than had been the case, that some further orderly appreciation of the main non-dollar currencies against the dollar was desirable and that we should stand ready to co-operate more closely in concerted intervention to encourage this when to do so would be helpful. The United Kingdom has played a full part in implementing this agreement.