An Exchange Rate History of the United Kingdom: 1945-1992

The Bank of England's foreign exchange dealers manage sterling crises by reviewing the history of sterling over half a century, using new archives, data, and unseen photographs. This book traces the sterling crises from the end of the War to Black Wednesday in 1992 and explores the lessons the Bretton Woods system has for contemporary policy makers in the context of Brexit.

Format: Paperback / softback
Length: 266 pages
Publication date: 09 March 2023
Publisher: Cambridge University Press

This captivating book delves into the intricate world of the Bank of England's foreign exchange dealers, offering a unique perspective on how foreign exchange intervention operates in practice. Authoritatively reviewing the history of sterling over a remarkable half-century, the author employs fresh archives, data, and unseen photographs to shed light on the currency's journey. Spanning from the aftermath of World War II to the pivotal Black Wednesday in 1992, this book meticulously traces the series of sterling crises that shaped the international landscape. The resulting analysis underscores the critical role of a secondary reserve currency like sterling in maintaining the stability of the global system.

In the subsequent chapters, the author delves into the lessons learned from the Bretton Woods system, which governed managed exchange rates, in the context of Brexit. This exploration is of paramount importance for scholars in economics and history, as it provides valuable insights into past and present prospects for the international financial system. Moreover, this title is also readily accessible as Open Access on Cambridge Core, ensuring widespread dissemination of knowledge and scholarship.

By exploring the complexities of sterling crises and their implications for global finance, this book serves as a vital reference for scholars, policymakers, and anyone interested in understanding the intricacies of the international monetary system.

ISBN-13: 9781108813938