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Tuesday, 12 October 1971
Page: 2149

Mr IRWIN (MITCHELL, NEW SOUTH WALES) - Has the Prime Minister noticed that the yen yesterday closed at 330.20 yen to the USA dollar, or 9.02 per cent above the old parity of 360 yen to the USA dollar? Does the Government intend to allow the Australian dollar to continue to float?

Mr McMAHON - I am not aware of the actual figures given by the honourable gentleman, but I do know that qua the US dollar the yen has appreciated by a little over 9 per cent. As to the second part of the question asked by the honourable gentleman, I have nothing to add to the 2 statements that I have made in the House. For the moment the Australian dollar is tied to sterling and there has been a movement of a little more than 3 per cent. When there is something definitive which can be said, it will be said in this House.

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