Mr. Alan W. WilliamsTo ask the Chancellor of the Exchequer what is the extent of the devaluation of the pound sterling against(a) the deutschmark, (b) the US dollar and (c) the basket of international currencies since the close of trading in London on Tuesday 15 September 1992 on the latest available figures.
§ Mr. NelsonBetween the close of business in London on 15 September 1992 and opening 8 March 1993 the £ sterling has declined against the deutschmark by 13.9 per cent., against the dollar by 23.6 per cent. and against its exchange rate index by 13.5 per cent.