HC Deb 30 July 1981 vol 9 cc497-8W
18. Mr. Eggar

asked the Chancellor of the Exchequer what is his policy over the control of the exchange rate.

Mr. Peter Rees

The Government's policy continues to be to allow the exchange rate to be determined primarily by market forces. Whether the rate is rising or falling, intervention by the authorities is limited to smoothing to moderate excessive fluctuations and preserve orderly markets.