THATCHER DEFENDS CURRENCY POLICY

THATCHER DEFENDS CURRENCY POLICY

U.K. imports under a high exchange rate much cheaper than they otherwise would be, Prime Minister Margaret Thatcher said Thursday in Parliament.

Mrs. Thatcher said, in answer to a question about whether her exchange rate policy took into consideration U.K. manufacturers, that we are all interested in British exporters. We have to import raw materials and semi- fabricated products in order to export finished products. The imports, of course, under a high exchange rate are much cheaper than they otherwise would be.Sterling rose about 15 points to $1.8675 on the news of Mrs. Thatcher's comments, traders said.