Skip to main content

What’s the Context? 18 November 1967: Devaluation of Sterling

Posted by: , Posted on: - Categories: Foreign Office Historians, What's the context? series
Prime Minister Harold Wilson with James Callaghan walking towards the camera. They both look happy

‘Faith, hope and parity’ On Saturday, 18 November 1967, sterling was devalued by 14% from $2.80 to $2.40. Although rumours of impending devaluation had been widespread in the press, including in Europe and the United States, the announcement by the …