Verordening 1998/2866 - Omrekeningskoersen tussen de euro en de munteenheden van de lidstaten die de euro aannemen - Hoofdinhoud
Inhoudsopgave
SUMMARY OF:
Regulation (EC) No 2866/98 – conversion rates between the euro and the currencies of the countries adopting the euro
WHAT IS THE AIM OF THE REGULATION?
-
-These rates were adopted on 31 December 1998 when the first 11 European Union (EU) Member States adopted the euro (Belgium, Germany, Ireland, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland).
KEY POINTS
-
-To become a member of the euro area, the third stage in the EU’s economic and monetary union, a Member State must meet certain economic and legal conditions known as convergence criteria. These criteria are designed to ensure that countries can demonstrate stability – within certain defined limits – in prices, in their government’s financial position, in exchange rates and in long-term interest rates.
-
-According to Article 140 of the Treaty on the Functioning of the European Union, the conversion rates between the euro and the currencies of the Member States are set by the Council of the European Union. The Council decides with the unanimity of the euro area countries and the country concerned, acting on a proposal from the European Commission and after consulting the European Central Bank.
The conversion rates are irrevocably fixed.
1 euro = |
Exchange rate |
Former national currency |
40.34 |
Belgian francs |
|
1.96 |
German marks |
|
15.65 |
Estonian kroons |
|
0.79 |
Irish pounds |
|
340.75 |
Greek drachma |
|
166.39 |
Spanish pesetas |
|
6.56 |
French francs |
|
7.53 |
Croatian kuna |
|
1 936.27 |
Italian lire |
|
0.59 |
Cyprus pounds |
|
0.70 |
Latvian lats |
|
3.45 |
Lithuanian litas |
|
40.34 |
Luxembourg francs |
|
0.43 |
Maltese liras |
|
2.20 |
Dutch guilders |
|
13.76 |
Austrian schillings |
|
200.48 |
Portuguese escudos |
|
239.64 |
Slovenian tolars |
|
30.13 |
Slovak korunas |
|
5.95 |
Finnish marks |
FROM WHEN DOES THE REGULATION APPLY?
It has applied since 1 January 1999.
BACKGROUND
For further information, see:
MAIN DOCUMENT
Council Regulation (EC) No 2866/98 of 31 December 1998 on the conversion rates between the euro and the currencies of the Member States adopting the euro (OJ L 359, 31.12.1998, pp. 1–2).
Successive amendments to Regulation (EC) No 2866/98 have been incorporated in the basic text. This consolidated version is of documentary value only.
last update 25.07.2016
Deze samenvatting is overgenomen van EUR-Lex.
Verordening (EG) nr. 2866/98 van de Raad van 31 december 1998 over de omrekeningskoersen tussen de euro en de munteenheden van de lidstaten die de euro aannemen