Exchange Equalisation Account

From Wikipedia, the free encyclopedia
Jump to: navigation, search

The Exchange Equalisation Account (EEA) is a fund of Her Majesty's Treasury in the United Kingdom. It holds the country's reserves of foreign currencies, gold, and special drawing rights (SDR) held at the International Monetary Fund. It was set up to provide funding which if necessary can be used to manage the exchange value of pound sterling on international markets.[1]

The EEA was established by Neville Chamberlain's budget of 19 April 1932 following the pound's exit from the gold exchange standard the previous September.

The Exchange Stabilization Fund is a similar fund operated by the US Treasury since 1934. It was created as a response to the EEA.[2]

References[edit]

  1. ^ UK Government (24 September 2016). "Exchange Equalisation Account - report and accounts 2015-16" (PDF). 
  2. ^ Anna J. Schwartz. "IMF's Origins as a Blueprint for Its Future". 
General

External links[edit]