Euro central rates and compulsory intervention rates in ERM II

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.

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.