§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what has been the increase in (a) the real exchange rate and (b) the nominal exchange rate of the £ sterling since December 1976 as against (i) the German mark, (ii) the French franc, (iii) the Swiss franc, (iv) the yen and (v) the United States dollar.
§ Mr. Bruce-GardyneThe difficulty in calculating "real" exchange rates was explained in my reply of 11 December 1981.—[Official Report, c. 511–12.] The increases in the nominal exchange rates can be calculated from the data published in "Financial Statistics", table 13.1.