§ Mr. Stonehouseasked the Chancellor of the Exchequer what was the value of the £ sterling in terms of the dollar at the latest available date compared to October 1964 and February 1964; and what was the internal purchasing value of the £ sterling at the latest available date compared to the same dates.
§ Mr. DellThe sterling/dollar rate at the close of 26th January was 20.258, compared with average monthly rates of 2.7976 and 2.7837 in February and October 1964 respectively.
The internal purchasing power of the pound at the latest available date, December 1975, was equivalent to 37½p and 38½p, respectively, compared with a purchasing power of £1 in the same months of 1964.