Search results
Results From The WOW.Com Content Network
The 1967 sterling devaluation (or 1967 sterling crisis) was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 general election, [1] but originated in the balance of payments crises of the preceding Conservative government.
After the 1967 sterling devaluation increased demand for a higher denomination notes than £10, the Series D £20 note was introduced on 9 July 1970. The note was predominantly purple and featuring a statue of William Shakespeare and the balcony scene from Romeo and Juliet on its reverse.
1967 sterling devaluation; B. The Beatles in Bangor; C. Chitty Bang Bang (airship) Cogwheel Report; D. D-notice affair; K. 1967–68 Kangaroo tour of Great Britain ...
Wilson resisted and eventually pushed through a series of deflationary measures in lieu of devaluation including a 6 month wage freeze. [15] [16] After a brief period in which the deflationary measures relieved sterling, pressure mounted again in 1967 as a consequence of the Six-Day War, the Arab oil embargo and a dock strike. [17]
Sterling crisis may refer to: 1931 sterling crisis, emergency measures during the Great Depression; 1949 sterling crisis, devaluation; 1967 sterling crisis, devaluation; 1976 sterling crisis, IMF loan; 1992 sterling crisis ("Black Wednesday"), depreciation
The UK government devalued the pound sterling in November 1967 from £1 = $2.80 to £1 = $2.40. This was not welcomed in many parts of the sterling area, and, unlike in the 1949 devaluation, many sterling area countries did not devalue their currencies at the same time. This was the beginning of the end for the sterling area.
In 1967, the peseta followed the devaluation of sterling, maintaining the exchange rate of Pts 168 = £1 stg. and establishing a new rate of Pts 70 = US$1. High inflation was constant in Spain from the Civil War until the 1990s. After one century with the Pts 1,000 being the largest note, the Pts 5,000 note was introduced in 1976.
1949 sterling devaluation; 1967 sterling devaluation; 1976 sterling crisis; 2008 United Kingdom bank rescue package; 2009 Pre-Budget Report;