§ Sir B. Rhys Williamsasked the Chancellor of the Exchequer what has been the average annual variation in the exchange rate of the United States dollar and the pound sterling between 1913 and 1973.
§ Mr. Nott,pursuant to his reply OFFICIAL REPORT, 1st May], gave the following information:
The official, or parity, rates between the United States dollar and the pound sterling over the period have been as follows:
Prior to 5th September 1939 £1 = $4.86⅔ 5th September 1939 to 17th September 1949. £1 = $4.03 18th September 1949 to 18th November 1967. £1 = $2.80 19th November 1967 to 18th December 1971. £1 =$2.40 19th December 1971 to 12th February 1973. £1 = $2.60571 13th February 1973 to date £1 = $2.89524 The market rate throughout much of this period has differed from the official, or parity rate. Recently the differences have been substantial. The middle closing market rate on 10th April 1973 was £1 = $2.4895.
350Wrespectively, taking into account charges for school meals, milk and health services.