asked the Minister for Finance if it is correct as presently stated by critics of our financial system that the rate of exchange between this country and Great Britain makes the Irish pound value for only 15/-in England; and whether he will consider making a general statement on the currency exchange position regarding the two countries.
Ceisteanna—Questions. Oral Answers. - Value of Irish Pound
The Irish pound is maintained at parity with the pound sterling under the arrangements set out in the Currency Act of 1927 as adapted by the Central Bank Act, 1942. As every Irish pound is exchangeable at the Bank of England for a pound sterling, the statement that the Irish pound is value for only 15/- in England cannot be accepted.