1967 sterling devaluation

The 1967 sterling devaluation (or 1967 sterling crisis) was a devaluation of sterling from $2.80 to $2.40 per pound on 18 November 1967. It ended a long sterling crisis that had started in 1964 with the election of Labour in the 1964 general election,^[1] but originated in the balance of payments crises of the preceding Conservative government.^[1]