Back to homepage.
Face -  Index -  Top/ Bottom -  Previous/ Next


"Report and Accounts 1998"



Back to publication summary


usynligt billede. Tjener kun layout formål.

"continued from the previous page"

Table 12 CENTRAL RATES IN THE EUROPEAN MONETARY SYSTEM (EMS)
With effect from D-marks
(DEM)		 French
francs
(FRF)		 Dutch
guilders
(NLG)		 Belgian
francs
(BEF)		 Italian
lire
(ITL)		 Irish
pounds
(IEP)		 Spanish
pesetas
(ESP)		 Pounds
sterling
(GBP)		 Portuguese
escudos
(PTE)		 Austrian
schillings
(ATS)		 Finnish
markka
(FIM)		 Greek
drachmas
(GRD)		 With effect from
1979 March 13 282.237 122.207 260.439 17.9581 0.617160 1,069.35 • • • • • • 1979 March 13
Sept. 24 296.348 125.801 268.098 18.4862 0.635312 1,100.81 • • • • • • Sept. 24-
Nov. 30 311.165 132.091 281.503 19.4105 0.667078 1,155.84 • • • • • • Nov. 30
1981 March 23 - - - - 0.627052 - • • • • • • 1981 March 23
Oct. 5 328.279 128.128 296.986 - 0.608240 - • • • • • • Oct. 5
1982 Feb. 22 338.433 132.090 306.171 18.3098 0.627050 1,191.59 • • • • • • 1982 Feb. 22
June 14 352.817 124.496 319.183 - 0.609804 - • • • • • • June 14
1983 March 211) 363.141 118.423 322.297 18.1312 0.580057 1,121.84 • • • • • • 1983 March 211)
1985 July 22 - - - - 0.534563 - • • • • • • 1985 July 22
1986 April 7 370.332 113.732 328.676 - 0.529268 1,110.72 • • • • • • 1986 April 7
Aug. 4 - - - - - 1,021.86 • • • • • • Aug. 4
1987 Jan. 12 381.443 - 338.537 18.4938 - - • • • • • • 1987 Jan. 12
1989 June 192) - - - - - - 5.86837 • • • • • 1989 June 192)
1990 Jan. 8 - - - - 0.509803 - - • • • • • 1990 Jan. 8
Oct. 82) - - - - - - - 1,125.26 • • • • Oct. 82)
1992 April 62) - - - - - - - - 4.38747 • • • 1992 April 62)
Sept.14 - - - - 0.475325 - - - - • • • Sept. 14
Sept. 173) - - - - • - 5.57496 • - • • • Sept. 173)
Nov 23 - - - - • - 5.24047 • 4.12423 • • • Nov. 23
1993 Feb. 1 - - - - • 919.676 - • - • • • 1993 Feb. 1
May 14 - - - - • - 4.82126 • 3.85618 • • • May 14
Aug. 24) - - - - • - - • - • • • Aug. 24)
1995 Jan. 9 - - - - • - - • - 54.2170 • • 1995 Jan. 9
March 6 - - - - • - 4.48376 • 3.72119 - • • March 6
1996 Oct. 14 - - - - • - - • - - 125.474 • 1996 Oct. 14
Nov. 25 - - - - 0.385294 - - • - - - • Nov. 25
1998 March 16 - - - - - 947.269 - • - - - 2.11276 1998 March 16
Total adjustment in
the period, per cent		 + 35.15 - 6.93 + 29.99 + 2.98 - 37.6 - 11.42 - 23.59 - - 15.19 - - - Total adjustment in
the period, per cent
Note:The European Monetary System (EMS) was established on 13 March 1979 and was abolished on 1 January 1999 on the adoption of the euro by 11 EU member states.
1) As the sterling rate rose strongly after the realignment on 21 March 1983, it was decided in May 1983 to carry out a formal EMS realignment designed to place sterling in the ECU at the market rate of 13 May 1983 at the same time as the agricultural price agreement. Bilateral parities and intervention rates remained unchanged.
2) Spain, the UK and Portugal joined the ERM with a fluctuation band of +/- 6 per cent. The other bilateral parities and intervention rates remained unchanged.
3) The intervention obligation for the pound sterling and the Italian lira was suspended and the intevention rates for the Spanish peseta was written down by 5 per cent.
4) The central rates remained unchanged, but the fluctuation margins for all currencies were increased to +/- 15 per cent. (However, the German and Dutch authorities agreed that the previous intervention rates between the D-mark and the Dutch guilder should continue to apply.)

"to be continued on next page"
usynligt billede. Tjener kun layout formål Face -  Index -  Top/Bottom -  Previous/ Next

Version 1.0 Maj 1999 Nationalbanken.
Published by Danmarks Nationalbank Maj 1999, http://www.nationalbanken.dk