§ Mr. MarlowTo ask the Chancellor of the Exchequer what has been the change in the value of the pound against(a) the deutschmark, (b) the dollar and (c) all currencies since the first day of each month of 1996 to date; and if he will make a statement.[3080]
§ Mrs. Angela Knight[holding answer 11 November 1996]: The table gives the percentage increase in the value of the pound against the deutschmark, dollar and the exchange rate index from the first day of each month to close on 6 November—when sterling stood at DM2.49, $1.64 and 91.1 on the ERI. The effective exchange rate index measures the value of sterling against a basket of other currencies on a trade-weighted basis.
Percentage increase since: 1996 DM $ ERI January 12 6 10 February 11 9 9 March 11 7 9 April 10 8 9 May 8 9 9 June 6 7 6 July 5 6 5 August 8 5 8 September 8 5 7 October 4 5 5