The new publication regime reinforces the concept of the ECB foreign exchange rate as a purely informative one. Therefore, the usage of the rates for transaction purposes is strongly discouraged.Where can I find more information on the ECB reference rates?
Additional information on the ECB reference rates procedure is available in the ECB press release of 7 December 2015 and related documents on the ECB website. Bank of Italy is not liable for any inaccuracy or error caused by mistake. current screen: 1, results for screen: 10, total screens: 486.What are the Euro reference rates based on?
The foreign exchange reference rates of the Euro are based on the procedure established by the European System of Central Banks (ESCB). They are based on a daily concertation procedure between the leading central banks, which takes place at 14:15 (CET).What are exchange rates based on?
They are based on a daily concertation procedure between the leading central banks, which takes place at 14:15 (CET). The published exchange rates, which are the average of the sale and purchase rates, reflect the market conditions prevailing at the time of the concertation.