Navigation path

Left navigation

Additional tools

Other available languages: FR DE DA ES NL IT PT

   The  agricultural  conversion  rates for  floating  Community  currencies
   follow  both upward and downward movements in market rates  according  to
   automatic and pre-determined rules(1). Since 2 August 1993 all  Community
   currencies have been considered to be floating for agrimonetary purposes.

   As  a  result  of fluctuations in market rates in the period  from  2  to
   10 August 1993, the cumulative difference between the positive gap of the
   Dutch  guilder  (+ 1.311) and the negative gaps of the  Danish  krone  (-
   3.852) and the French franc (- 2.783) exceeded the 4-point threshold  set
   by the Regulations.

   The  agricultural  conversion rates for the Danish krone and  the  French
   franc  have accordingly been raised by 1.8% and 0.8%  respectively,  with
   effect from 11 August 1993. The level of agricultural prices in these two
   currencies has therefore increased proportionately.

                                     * * *

   
   (1) Council Regulation (EEC) No 3813/92
       Commission Regulation (EEC) No 1068/93.

Side Bar