HC Deb 24 October 1978 vol 955 cc896-8W
Mr. Lawson

asked the Chancellor of the Exchequer if, pursuant to his answer, Official Report, 6th June, column 123, concerning changes in trade-weighted values of various currencies since 1st January 1978, he will update the table to the latest available date.

Mr. Robert Sheldon

Updated versions of the tables I gave in that reply are as follows:

PERCENTAGE CHANGES IN EFFECTIVE EXCHANGE RATE INDICES
3rd January 1978 to 16th October 1978 17th October 1977 to 16th October 1978
Japan +26.0 +30.1
Switzerland +17.8 +32.3
Germany +3.8 +8.3
Denmark +3.6 +4.0
Netherlands +1.5 +3.4
Austria +1.5 +4.1
Sweden +0.8 -0.1
Belgium +0.7 +3.8
France +0.6 0.0
Italy -2.2 -5.7
Australia -4.8 -6.1
United Kingdom -5.9 -0.4
Norway -5.9 -3.4
United States -8.8 +13.4
Canada +10.7 +11.0

Effective exchange rate indices for other OECD countries are not available. Changes in their cross-rates against sterling have been as follows:

PERCENTAGE CHANGE IN EXCHANGE RATES AGAINST STERLING
3rd January 1978 to 16th October 1978 17th October 1978 to 16th October 1978
Spain +10 +6
New Zealand +1 -3
Finland -2 -9
Greece -10 -12
Portugal -18 -25
Turkey -39 -44
Iceland -50 -66

Mr. Lawson

asked the Chancellor of the Exchequer if, pursuant to his answer, Official Report, 6th June, column 124, concerning changes in trade-weighted values of various currencies since the end of February 1974, he will update the table to the latest available date.

Mr. Robert Sheldon

The information is as follows:

Percentage changes in effective exchange rate indices
End February 1974 to 16th October 1978
Switzerland +76
Japan +50

Germany +27
Austria +25
Netherlands +15
Belgium +13
Denmark +9
Norway -2
France -2
Sweden -4
USA -15
Canada -18
UK -27
Italy -34