Exchange Rates

(asked on 13th January 2017) - View Source

Question to the HM Treasury:

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.


Answered by
 Portrait
Simon Kirby
This question was answered on 18th January 2017

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.

Reticulating Splines