PRESS RELEASE

Euro central rates and intervention rates in ERM II

17 January 2000

Further to the decision taken on 15 January 2000 (see communiqué of the European Union released on the same date) on the new euro central rate for the Greek drachma in ERM II, the European Central Bank and the Bank of Greece, in accordance with Article 1 of the European Central Bank Agreement of 1 September 1998 on an Exchange Rate Mechanism in Stage Three of Economic and Monetary Union, have established, by common accord, the new compulsory intervention rates for the Greek drachma in ERM II. The central and compulsory intervention rates of the Danish krone are unchanged compared with the ones set on 31 December 1998.

The euro central rates as well as the compulsory intervention points for the Danish krone and the Greek drachma are hereby made public.

Euro central rates and compulsory intervention rates for the currencies of the countries participating in ERM II, in force as of 17 January 2000 (1)

Country and Currency EUR 1 =
DENMARK: DKK Upper rate Central rate Lower rate 7.62824 7.46038 7.29252
GREECE: GRD Upper rate Central rate Lower rate 391.863 340.750 289.638

(1) Table prepared by the ECB, by common accord with Danmarks Nationalbank and the Bank of Greece.

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