HC Deb 19 December 1975 vol 902 cc832-3W
Mr. Wm. Ross

asked the Chancellor of the Exchequer what was the percentage decrease in the value of the £ sterling since 1st January 1973 to the latest available date.

Mr. Dell

The effective depreciation of sterling from Smithsonian parities, calculated by reference to a trade weighted basket of the currencies of our 10 major trading partners was 10.1 per cent. and 30 per cent. at the close on 2nd January 1973 and 17th December 1975 respectively. This gives a depreciation in sterling over the period of 22.1 per cent.