HC Deb 29 November 2000 vol 357 cc697-8W
Mr. Webb

To ask the Secretary of State for Social Security which exchange rates are used to convert income denominated in foreign currencies into sterling when assessing income for benefits purposes; and how often these exchange rates are reviewed. [140403]

Mr. Rooker

With the exception of the Irish pound, the income is converted into sterling using the Bank of England exchange rates of transfer at the date of receipt. Daily rates are published in newspapers and a record of earlier rates is kept at the Department's Overseas Branch in Newcastle.

Details of the exchange rate for the Irish pound at the date of receipt are obtained from the Bank of Ireland.