This paper analyzes the behavior of the current account and the exchange rate in the British economy during the 1970's, and discusses the outlook, as influenced by the availability of oil revenues, for exchange rate developments during the 1980's.Both trade and exchange rate behavior are...

The United Kingdom's external balance sheet currently records assets and liabilities of more than 3.5 trillion pounds. Both sides of the external balance sheet grew sharply during 2003, continuing the marked expansion that has been recorded since the early 1990s. This article examines recent...

Sterling balances were a major issue from the point of view of British policy makers. They amounted to £3,555 million in mid-1945 corresponding to almost seven times British pre-war yearly exports. Egyptian sterling balances were importante as Egypt was the second holder of such balances only...