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Tuesday, 7 December 1976

Mr WILLIS (GELLIBRAND, VICTORIA) - My question which is directed to the Treasurer refers to the Government's latest exercise in exchange rate yo-yo. Does the 2 per cent revaluation not mean that the original decision to devalue by 17Vi per cent was excessive? If not, will the Treasurer explain to the House why a revaluation has now become necessary only 9 days after a devaluation? Will the Treasurer also give the House an assurance that the currency will not be further revalued or devalued before the weather changes?

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