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The Exchange Equalisation Account (EEA) is the account that holds the UK's reserves of gold, foreign currencies and International Monetary Fund (IMF) Special Drawing Rights (SDRs). It was established in 1932 to provide a fund which could be used for "checking undue fluctuations in the exchange value of sterling". Subsequent legislation has extended the possible use of this fund; and under the consolidating Exchange Equalisation Account Act 1979, it may also be used:
Detail on the management of the UK’s reserves is published in the document below:
Under the Finance Act 2000 (section 4 of the EEA Act 1979) the Treasury has a statutory obligation to publish a full set of annual financial accounts for the EEA. The accounts are audited by the National Audit Office and laid before both Houses of Parliament.
Account documents are available below in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
The maintenance and integrity of the HM Treasury website is the responsibility of the Accounting Officer; the work carried out by the auditors does not involve consideration of these matters and accordingly the auditors accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website.