The reference exchange rates are based on a daily concertation procedure between central banks within and outside the European System of Central Banks, which normally takes place at 2.15 p.m. C.E.T. The reference exchange rates are published both by electronic market information providers (Reuters, Bloomberg) 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. EUR 1 = x foreign currency units).

The ECB pays due attention to ensuring that the published exchange rates reflect the market conditions prevailing at the time when the daily concertation procedure takes place. Since the exchange rates of the above currencies against the euro are averages of buying and selling rates, they do not necessarily reflect the rates at which actual market transactions have been made. The exchange rates against the euro published by the ECB are released for reference purposes only.

The ECB computes and publishes euro reference exchange rates on a daily basis for 34 currencies. To access these rates click here.