Vol. 451 No. 6
70 Mr. Andrews asked the Minister for Finance his views on the likely impact of the instability of the US Dollar, the devaluation of the Peseta and the Escudo and the increasing pressure on the Punt on Irish importers; and if he will make a statement on the matter. [5884/95]
While the Irish pound has, in recent times, appreciated against the US dollar as a result of dollar weakness, the Irish pound/dollar exchange rate remains within the range of normal experience.
As regards the other two currencies, despite the recent devaluation of their central rates within the Exchange Rate Mechanism of the European Monetary System, their market rates against the Irish pound have not varied significantly. Spain and Portugal account for only a very small percentage of Ireland's imports.
