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Euro central rates and compulsory intervention rates in ERM II

2 May 2005

Further to the decisions taken on 29 April 2005 (see communiqués of the European Union of the same date) on the euro central rates in ERM II for the Cyprus pound, the Latvian lats and the Maltese lira, the compulsory intervention rates for these currencies have been established with effect from 2 May 2005 and are set out in the table below.

The compulsory intervention rates have been agreed by common accord between the European Central Bank and the Central Bank of Cyprus, Latvijas Banka and the Central Bank of Malta, in line with Article 1.2 of the Agreement of 1 September 1998 between the European Central Bank and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of Economic and Monetary Union (OJ C 345, 13.11.1998, p. 6), as last amended by the Agreement of 16 September 2004 (OJ C 281, 18.11.2004, p. 3).

The euro central rates and compulsory intervention rates for the Danish krone, the Estonian kroon, the Lithuanian litas and the Slovenian tolar remain unchanged.

Euro central rates and compulsory intervention rates for the currencies of the Member States participating in ERM II, in force as of 2 May 2005
Country and currency EUR 1 =
Denmark Danish krone (DKK) Upper rate Central rate Lower rate 7.62824 7.46038 7.29252
Estonia Estonian kroon (EEK) Upper rate Central rate Lower rate 17.9936 15.6466 13.2996
Cyprus Cyprus pound (CYP) Upper rate Central rate Lower rate 0.673065 0.585274 0.497483
Latvia Latvian lats (LVL) Upper rate Central rate Lower rate 0.808225 0.702804 0.597383
Lithuania Lithuanian litas (LTL) Upper rate Central rate Lower rate 3.97072 3.45280 2.93488
Malta Maltese lira (MTL) Upper rate Central rate Lower rate 0.493695 0.429300 0.364905
Slovenia Slovenian tolar (SIT) Upper rate Central rate Lower rate 275.586 239.640 203.694

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