§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer if he will give sterling's range of variation against(a) the franc, (b) the deutschmark, (c) the lira and (d) within the 6 per cent. bands for each month since Britain joined the exchange rate mechanism and for (a), (b) and (c) for the three months before joining.
§ Mr. MaplesSterling's variation against the franc, deutschmark and lira before and after its entry to the ERM, and the greatest percentage dievations from sterling's central rates against all the other ERM currencies since entry are as follows:
Total change Level of reserves at end of month November -102 38,470 December -6 38,464 1 Sterling entered the ERM on 8 October 1990.
§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what are the top and bottom of the pound's bands within the exchange rate mechanism and the highest and lowest points within them reached by sterling in each month since membership.
§ Mr. MaplesSterling's upper and lower limits against the other ERM currencies, and the highest and lowest points at close of business since sterling's entry to the mechanism, are as follows:
461W
October1 November December January2 Currency Upper limit Lower limit High Low High Low High Low High Low Belgian/Luxembourg Franc3 64.6 57.3 62.3 60.2 60.6 59.7 60.0 59.0 60.3 59.6 French Franc 10.51 9.32 10.15 9.82 9.90 9.74 9.83 9.72 9.97 9.80 Italian Lira 2,344 2,079 2,267 2,200 2,205 2,175 2,180 2,155 2,200 2,180 Dutch Florin 3.53 3.13 3.41 3.30 3.31 3.26 3.27 3.22 3.30 3.26 Deutschemark 3.132 2.778 3.025 2.929 2.936 2.887 2.903 2.852 2.926 2.888 Danish Krone 11.95 10.60 11.54 11.19 11.24 11.07 11.14 11.20 11.27 11.14 Irish Punt 1.169 1.037 1.131 1.089 1.100 1.077 1.098 1.068 1.080 1.076 Spanish Peseta 203.6 180.6 190.0 183.8 186.2 183.6 185.0 182.8 184.8 184.0 1 From 8 October. 2 To 13 January 1991. 3 The exchange rate between the Belgian franc and the Luxembourg franc is fixed, with no margin of fluctuation.