§ Mr. Gouldasked the Chancellor of the Exchequer what proportion of the improvement in the effective exchange rate, calculated on the new basis, is due to (a) the increase in coverage, (b) the change in the base year for trade weights and (c) the method of averaging.
§ Mr. Robert SheldonApproximately one-third of the improvement in the effective exchange rate index, calculated on the new basis is due to increasing the country coverage and updating the trade weights. The remainder is the result of changes in the method of averaging and improvements in the calculation.