PRESS RELEASE

Euro central rates and compulsory intervention rates in ERM II

19 March 2007

Further to the decision taken on 16 March 2007 (see the communiqué of the European Union of the same date) on the new euro central rate for the Slovak koruna in ERM II, the European Central Bank and Národná banka Slovenska have established, by common accord, the new compulsory intervention rates for the Slovak koruna in ERM II. This has been done in line with Article 1.2 of the Agreement of 16 March 2006 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 73, 25.3.2006, p. 21), as last amended by the Agreement of 21 December 2006 (OJ C 14, 20.1.2007, p. 6).

The euro central rates and compulsory intervention rates for the Danish krone, the Estonian kroon, the Cyprus pound, the Latvian lats, the Lithuanian litas and the Maltese lira remain unchanged.

Euro central rates and compulsory intervention rates for the currencies of the Member States participating in ERM II, in force as of 19 March 2007
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
Slovakia Slovak koruna (SKK) Upper rate Central rate Lower rate 40.7588 35.4424 30.1260

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

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