Exchange Rates: Sterling:Written question - 906320


Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 08 September 2016
Department for International Development
Exchange Rates: Sterling
To ask the Secretary of State for International Development, what assessment she has made of the effect of recent changes in the relative value of the pound on her Department's finances.
Answered by: Rory Stewart
Answered on: 14 September 2016

We have conducted an assessment of the effects of recent changes, and our conclusion is that the impact is relatively limited, for 3 reasons:

  1. fluctuations are not new;
  2. almost all of our payments are in pounds, so fluctuations do not directly impact departmental finances; and
  3. the partners we work with are carefully selected to make sure they have robust financial mechanisms in place, to deal with currency fluctuations and other risks.

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