The euro foreign exchange reference rates against 32 currencies are determined by the European Central Bank (ECB), on the basis of the exchange rates prevailing in the international markets, during a regular daily concertation procedure between Central Banks within and outside the European System of Central Banks.
Only one reference rate is published for each currency, and all currencies are quoted against the euro (EUR 1= x foreign currency units).
The reference exchange rates are for information purposes only and are not to be used for transaction purposes. The daily concertation procedure takes place at 14:15 CET (15:15 Greek time).
Until June 30th, 2016, reference rates were published immediately after the completion of the concertation procedure on the ECB website, as well as by online market data providers such as Reuters and Bloomberg, and were reproduced on the Bank of Greece website.
From July 1st, 2016 onwards, by decision of the ECB, the euro foreign exchange reference rates are published on the ECB website at around 16:00 CET (17:00 Greek time). As of the same date, the Bank of Greece ceased publication of the ECB’s euro foreign exchange reference rates on its own website.