PRESS RELEASE

"EUR" - the new currency code for the euro

25 April 1997

The European Monetary Institute welcomes the decision of the Maintenance Agency for ISO 4217, the body responsible for the issuance of currency codes, to attribute the code "EUR" to the euro. This new code has been issued now so that technical preparations for the single currency can be started. It is intended for use in any application of trade, commerce and banking which is based on uniform, internationally agreed representations of currencies.

The code "EUR" will allow currency users to easily identify the new currency. The early attribution of the currency code "EUR" will help economic agents, in particular financial institutions, in their preparatory work for the introduction of the single currency on 1 January 1999.

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