PRESS RELEASE

Euro central rates and compulsory intervention rates in ERM II

29 May 2008

Further to the decision taken on 28 May 2008 (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 Latvian lats and the Lithuanian litas remain unchanged.

Euro central rates and compulsory intervention rates for the currencies of the Member States participating in ERM II, in force as of 29 May 2008

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
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
Slovakia Slovak koruna (SKK) Upper rate Central rate Lower rate 34.6449 30.1260 25.6071

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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