Devaluation
Devaluation. A textile machinery maker in Huddersfield in November 1967. On Saturday the 18th the pound was devalued from $2.80 to $2.40, Bank Rate went to…
Two dollars eighty to two dollars forty.
A textile machinery maker in Huddersfield in November 1967. On Saturday the 18th the pound was devalued from $2.80 to $2.40, Bank Rate went to 8%, and the Prime Minister told the country that the pound in its pocket had not been devalued. Your machines are suddenly a seventh cheaper abroad, and your imported steel and motors are dearer at home.
- Starts
- November 1967
- Length
- two years
- Difficulty
- Medium
- Scored on
- Be trading in 4 overseas markets
- Business
- Manufacturing
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