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18/11/1967 British government devalues pound from $2.80 to $2.40


A Dalek in Downing Street? Devaluation of the pound - 1967


I'm Backing Britain

The decision came after weeks of speculation and a day in which the Bank of England spent £200 million trying to shore up the pound from its gold and dollar reserves. Prime Minister Harold Wilson said that devaluation would bust British economics.
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