PRESS RELEASE

Euro central rates and compulsory intervention rates in ERM II

28 November 2005

Further to the decision taken on 25 November 2005 (see communiqué of the European Union of the same date) on the euro central rate in ERM II for the Slovak koruna, the compulsory intervention rates for this currency have been established with effect from 28 November 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 Národná banka Slovenska, 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 Cyprus pound, the Latvian lats, the Lithuanian litas, the Maltese lira 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 28 November 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
Slovakia Slovak koruna (SKK) Upper rate Central rate Lower rate 44.2233 38.4550 32.6868

Information about the conventions and procedures for ERM II can be obtained (in English) via the following link to the ECB’s Website: http://www.ecb.europa.eu/press/pr/date/2004/html/pr040628_1.en.html.

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