Term:
Irrevocable exchange rates
Definition:
The irrevocable exchange rates for the countries in the Euro area are the fixed exchange rates against the euro for each of the eleven countries in the area as at 1 January 1999. These countries and the exchange rates are:
- Austria – 13.7603
- Belgium – 40.3399
- Finland – 94573
- France – 6.55957
- Germany – 1.95583
- Ireland – 0.787564
- Italy – 1936.27
- Luxembourg – 40.3399
- Netherlands – 2.20371
- Portugal – 200.482
- Spain – 166.386
The irrevocable exchange for Greece, which subsequently joined the Euro area, at 1 January 2001 is 340.75
The irrevocable exchange for Slovenia, which subsequently joined the Euro area, at 1 January 2007 is 239.640
Domain:
Finance
Source:
OECD Main Economic Indicators, OECD, Paris, monthly, Part 4 (Exchange Rates