asked the Minister for Finance the total value of Ireland's gold reserves; and if he will make a statement on the effect of devaluation on this country's reserve position.
Ceisteanna—Questions. Oral Answers. - Gold Reserves.
22.
The accounts of the Central Bank for 1967-68 which were presented to the Dáil yesterday show that the Legal Tender Note Fund held gold valued £3,097,699 at 31st March, 1968. The balance sheet of the General Fund includes an amount of £10,879,251 under the heading "Other assets" and I understand that these assets consist mainly of gold.
As regards the effect of the devaluation of 18th November, 1967 on this country's reserves, there was an increase in terms of Irish currency of one-sixth in the value of gold and of dollar balances and securities held by the Central Bank. There was no change in terms of Irish currency in the value of sterling reserves.