§ Mr. Austin Mitchell
To ask the Chancellor of the Exchequer if he will specify on a month-by-month basis since 1985 whether the pound sterling was or would have been within(a) the 2½ per cent. band of the exchange rate mechanism; or (b) the 6 per cent. band.
§ Mr. Nelson
Sterling joined the exchange rate mechanism with effect from 8 October 1990 at a central deutschmark rate of DM 2.95 and with agreed bands of flunctuation of approximately ±6 per cent.
It is not clear what sterling's exchange rate would have been since 1985 if it had joined earlier.