The Management of Sterling, 1932–1939

Susan Howson

The Journal of Economic History, 1980, vol. 40, issue 1, 53-60

Abstract: This article briefly discusses the operations of the British Exchange Equalization Account, 1932–1939, on the basis of the Treasury records of the time and in the light of modern views on exchange management. Its conclusion is that although the float may not have been “clean,” the intervention was probably justified by domestic objectives and the state of international capital markets.

Date: 1980
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