§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer what was the change in the real and the nominal exchange rate of sterling against(a) the deutschmark, (b) the United States dollar and (c) the yen, between the last quarter of 1986 and the last quarter of 1990.
§ Mr. Maples
The nominal and real exchange rate changes between the last quarter of 1986 and the third quarter of 1990 are shown in the table. There are several ways in which changes in the real exchange rate can be measured. The table shows the changes indicated by the different increases in GDP deflators over the relevant period.
Change 1986Q4 to 1990Q3 per cent. DM/Sterling $/Sterling Yen/Sterling 3.38 30.15 17.93 121.36 245.73 345.82 1 Real DM/Sterling. 2 Real $/Sterling. 3 Real Yen/Sterling.
Data are not yet available to calculate real exchange rates up to the fourth quarter of 1990.