§ Mr. Gouldasked the Chancellor of the Exchequer on how many occasions since the end of 1982 the exchange rate of the pound sterling against those currencies within the exchange rate mechanism of the European monetary system has varied by more than the limits permitted by the exchange rate mechanism.
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§ Mr. Ian Stewart[pursuant to his reply, 15 April 1985, c. 36.]: The following table lists the months in which sterling's monthly average exchange rates against currencies in the EMS exchange rate mechanism have moved outside sterling's notional fluctuation margins since the end of 1982. The margins used are those pertaining at the end of December 1982. Since then, these margins have been changed three times, in March and May 1983 and September 1984.
ERM currencies 1983 1984 1985 Deutschemark January—December January; December January—March French franc January—April; August—September January; October—December January—March Lira January—April — January—February Belgian franc January—May March—December January—March Dutch guilder January—December January—December January—March Danish kroner January—July; October—December January—December January—March Irish punt January—April; August—September November—December January—February November—December January—March Note: investigation of fluctuations on a daily or more frequent basis would have been excessively costly.