PARLIAMENTARY WRITTEN QUESTION
Exchange Rates (13 January 2017)
Question Asked
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of recent changes in the Sterling exchange rate on the resilience of the Government's stock of foreign currency reserves.
Asked by:
Peter Dowd (Labour)
Asked by:
Peter Dowd (Labour)
Answer
The government has been providing additional sterling financing for the foreign currency reserves since 2010. Total additional financing for the reserves between 2010-11 and 2016-17 stands at £48 billion.
A large proportion of the government’s foreign currency assets are hedged against exchange rate and interest rate changes.
Answered by:
Simon Kirby (Conservative)
18 January 2017
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