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Additional reference exchange rates for the euro

29 March 2005

The European Central Bank (ECB) has decided to extend the list of currencies for which daily reference exchange rates are published.

The ECB will continue to compute and publish euro reference exchange rates on a daily basis for the following list of currencies, as announced on 28 September 2000:

AUD Australian dollar
BGN Bulgarian lev
CAD Canadian dollar
CHF Swiss franc
CYP Cyprus pound
CZK Czech koruna
DKK Danish krone
EEK Estonian kroon
GBP Pound sterling
HKD Hong Kong dollar
HUF Hungarian forint
ISK Icelandic krona
JPY Japanese yen
KRW South Korean won
LTL Lithuanian litas
LVL Latvian lats
MTL Maltese lira
NOK Norwegian krone
NZD New Zealand dollar
PLN Polish zloty
ROL Romanian leu
SEK Swedish krona
SGD Singapore dollar
SIT Slovenian tolar
SKK Slovak koruna
TRY New Turkish lira
USD US dollar
ZAR South African rand

As from 1 April 2005 the ECB will in addition compute and publish euro reference exchange rates on a daily basis for the following currencies:

CNY Chinese yuan renminbi
HRK Croatian kuna
IDR Indonesian rupiah
MYR Malaysian ringgit
PHP Philippine peso
RUB Russian rouble
THB Thai baht

The current procedures for the computation and publication of the foreign exchange reference rates will also apply to those currencies which are to be added to the list:

  1. The reference rates are based on the daily concertation procedure between central banks within and outside the European System of Central Banks, which normally takes place at 2.15 p.m. C.E.T. The reference exchange rates are published both by electronic market information providers and on the ECB’s website shortly after the concertation procedure has been completed.
  2. Only one reference exchange rate (i.e. the mid-rate) is published for each currency, using the “certain” method (i.e. EUR 1 = x foreign currency units).
  3. The number of significant digits used may vary according to the currency, reflecting market conventions. However, in most cases five significant digits are used.
  4. The euro area national central banks may publish more comprehensive lists of euro reference exchange rates than that published by the ECB.

The ECB pays due attention to ensuring that the published exchange rates reflect the market conditions prevailing at the time of the daily concertation procedure. Since the exchange rates of the above currencies against the euro are averages of buying and selling rates, they do not necessarily reflect the rates at which actual market transactions have been made. The exchange rates against the euro published by the ECB are released for reference purposes only.


European Central Bank

Directorate General Communications

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