The sterling area's aad ant uccTeeeL EIS currency reserves fell by £24 million during Feb. making the residue £999 million, the troasury announced on Mar, 5th. The main reason was the wobbling position of the pound in the international market following the breakdown in the Common Market megotiations. For two days at the end of January there was some fairly heavy selling of sterling and this was reflected in the Feb. figures. The general estimate was that, in the two days of pressure after Brussels, around £15 million was lost, Another reason was the ending of the dollar guarantea given to the sterling balances of i cae ¢entral banics under the “iropean monetary agreement, —- + - oe — —— —
International Bulletin / The BulletinThe Bulletin Vol. 2, No. 10, 9 March 1963
Eritish Gold and Convertible Currency Reserves Fall
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