Britain's reserves fall again
(N.Z.P.A.Reuter—C< pgright) LONDON.
Britain’s reserves of gold and foreign currency fell i again in December, for the fifth month in succession, i the Treasury announced on i Monday. The official reserves declined by SLJSI77m, to stand at the end of the year at SUSS429m.
During December the British Treasury paid out SUS22Om to service longterm debts, including $US2Oni on the lend-lease agreement made with the United States during World War 11.
Britain still owes SUS399m on lend-lease, and has paid off SUS223m. Sterling was weak in foreign exchange markets for most of 1975, requiring Bank of England support for the currency at times. The reserves have declined stead-’ ily from SUS62S9m last! Julv.
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Bibliographic details
Press, Volume CXVI, Issue 34046, 9 January 1976, Page 11
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117Britain's reserves fall again Press, Volume CXVI, Issue 34046, 9 January 1976, Page 11
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