IMF--Dissemination Standards Bulletin Board--:(Summary Methodology)

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(THE SUMMARY METHODOLOGY STATEMENT HAS BEEN PROVIDED BY EURO AREA, WHICH IS SOLELY RESPONSIBLE FOR ITS ACCURACY AND COMPLETENESS. AT THE TIME OF POSTING, THE STATEMENT WAS REVIEWED BY THE IMF FOR CONSISTENCY WITH THE METADATA BASE PAGE DESCRIBING DISSEMINATION PRACTICES. SUBSCRIBERS ARE REQUIRED TO PROVIDE UPDATES TO THE STATEMENT, AS NEEDED, AND ARE EXPECTED TO MAKE OTHER IMPROVEMENTS, AS WARRANTED, TO ENHANCE TRANSPARENCY)

Euro Area
Summary Methodology
Exchange rates

Last Posted:	Mar-13-2009
Last Updated:	Mar-5-2009

Contact Person(s)		Printer Friendly Page
	Front Office Division, European Central Bank, Kaiserstrasse 29, D-60311 Frankfurt am Main, Germany
	Phone :	49 69 13 44 (34 01), or (34 02), or (34 03)
	Fax :	49 69 13 44 62 32
	Email :	front.office@ecb.europa.eu

I. Analytical Framework, Concepts, Definitions, and Classifications
2.1.1 Concepts and definitions

The reference rates are based on the regular daily concertation procedure between central banks within and outside the European System of Central Banks, which normally takes place at 2.15 p.m. ECB time. The reference exchange rates are published both by electronic market information providers and on the ECB's website shortly after the concertation procedure has been completed.

Only one reference exchange rate (i.e. the mid-rate) is published for each currency, using the "certain" method (i.e. 1 euro = x foreign currency units).

The number of significant digits used may vary between the currencies, reflecting market conventions. However, in most cases five significant digits are used.

The euro area national central banks may publish more comprehensive lists of euro reference exchange rates than that published by the ECB.

The ECB pays due attention to ensuring that the published exchange rates reflect the market conditions prevailing at the time of the regular daily concertation procedure. Since the exchange rates of the aforementioned currencies against the euro are averages of buying and selling rates, they do not necessarily reflect rates at which actual market transactions have occurred. The exchange rates against the euro published by the ECB are released for reference purposes only; therefore the ECB does not necessarily trade at these rates.

II. Scope of the data
2.2.1 Scope

Scope of the data

Not applicable.

III. Accounting Conventions

IV. Nature of the Basic Data Sources

V. Compilation Practices

VI. Other Aspects

Footnotes

Last posted: Date IMF staff last posted an update to these metadata on the DSBB.
Last certified: Date subscriber last officially certified the accuracy of these metadata.
Last updated: Date subscriber last submitted an update of these metadata to the IMF.



Footnotes
Last posted: Date IMF staff last posted an update to these metadata on the DSBB.
Last certified: Date subscriber last officially certified the accuracy of these metadata.
Last updated: Date subscriber last submitted an update of these metadata to the IMF.