DOCSLIB.ORG

Exchange Rate Statistics – May 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Exchange Rate Statistics – May 2019 Exchange rate statistics May 2019 Statistical Supplement 5 to the Monthly Report Deutsche Bundesbank Exchange rate statistics May 2019 2 Deutsche Bundesbank Wilhelm-Epstein-Strasse 14 60431 Frankfurt am Main, Germany Postfach 10 06 02 60006 Frankfurt am Main The Exchange rate statistics supplement is released once Germany a month and published on the basis of Section 18 of the Tel.: +49 (0)69 9566 3512 Bundesbank Act (Gesetz über die Deutsche Bundesbank). Email: [email protected] Up-to-date information and time series are also available online at: Information pursuant to Section 5 of the German Tele- www.bundesbank.de/timeseries media Act (Telemediengesetz) can be found at: www.bundesbank.de/en/homepage/imprint Further statistics compiled by the Deutsche Bundesbank can also be accessed at: Reproduction permitted only if source is stated. www.bundesbank.de/statisticalpublications ISSN 2190–8990 A publication schedule for selected statistics can be viewed on the following page: Finalised on 9 May 2019. www.bundesbank.de/statisticalcalender Deutsche Bundesbank Exchange rate statistics May 2019 3 Contents I. Euro area and exchange rate stability convergence criterion 1. Euro area countries and irrevoc able euro conversion rates in the third stage of Economic and Monetary Union .................................................................. 7 2. Central rates and intervention rates in Exchange Rate Mechanism II ............................... 7 II. Euro foreign exchange reference rates of the European Central Bank 1. Daily rates . 8 2. Monthly averages ..................................................................... 12 3. End-of-year rates and annual averages . 15 4. Exchange rates of major currencies (chart) .................................................. 17 III. Effective exchange rates of the euro 1. Annual and monthly averages ............................................................ 18 2. Nominal and real effective exchange rates based on consumer price indices (chart) ................... 19 IV. Overview of world currencies 1. Currencies and exchange rates in individual countries .......................................... 20 2. Currencies in selected territories and states in which the currency of another country is legal tender ....... 43 V. Value of the special drawing right in selected currencies 1. End-of-year and end-of-month rates . 44 2. Daily rates ........................................................................... 45 VI. Global exchange rate arrangements and monetary policy framework ............................................. 46 VII. ISO currency codes ....................................................... 48 Deutsche Bundesbank Exchange rate statistics May 2019 4 Explanatory notes Euro foreign exchange reference rates of the European Central Bank .................................. 51 Effective exchange rates of the euro ........................................................... 51 Indicators of the German economy’s price competitiveness .......................................... 51 Overview of world currencies ................................................................ 53 Value of the special drawing right ............................................................. 53 Global exchange rate arrangements and monetary policy framework .................................. 54 Explanatory notes on individual countries ............................... 57 Deutsche Bundesbank Exchange rate statistics May 2019 5 Abbreviations and symbols CU Currency unit(s) EC European Community ECB European Central Bank ECU European Currency Unit EER Effective exchange rate ERM Exchange Rate Mechanism EU European Union IMF International Monetary Fund ISO International Organization for Standardization SDR Special drawing right SITC Standard International Trade Classification SWIFT Society for Worldwide Interbank Financial Telecommunication B Buying rate M Middle rate S Selling rate V Calculated value e Estimated p Provisional r Revised . Data unknown, not to be published or not meaningful – Nil Discrepancies in the totals are due to rounding. Deutsche Bundesbank Exchange rate statistics May 2019 6 Deutsche Bundesbank Exchange rate statistics May 2019 7 I. Euro area and exchange rate stability convergence criterion 1. Euro area countries and irrevocable euro conversion rates in the third stage of Economic and Monetary Union From Country Currency ISO currency code EUR 1 = CU ... Council Regulation (EU) No 1 1999 January 1 Austria Austrian schilling ATS 13.7603 2866/98 Belgium Belgian franc BEF 40.3399 2866/98 Finland Finnish markka FIM 5.94573 2866/98 France French franc FRF 6.55957 2866/98 Germany Deutsche Mark DEM 1.95583 2866/98 Ireland Irish pound IEP 0.787564 2866/98 Italy Italian lira ITL 1,936.27 2866/98 Luxembourg Luxembourg franc LUF 40.3399 2866/98 Netherlands Dutch guilder NLG 2.20371 2866/98 Portugal Portuguese escudo PTE 200.482 2866/98 Spain Spanish peseta ESP 166.386 2866/98 2001 January 1 Greece Greek drachma GRD 340.750 1478/2000 2007 January 1 Slovenia Slovenian tolar SIT 239.640 1086/2006 2008 January 1 Cyprus Cyprus pound CYP 0.585274 1135/2007 Malta Maltese lira MTL 0.429300 1134/2007 2009 January 1 Slovakia Slovak koruna SKK 30.1260 694/2008 2011 January 1 Estonia Estonian kroon EEK 15.6466 671/2010 2014 January 1 Latvia Latvian lats LVL 0.702804 870/2013 2015 January 1 Lithuania Lithuanian litas LTL 3.45280 851/2014 1 The EU regulations can be found at http://eur-lex.europa.eu 2. Central rates and intervention rates in Exchange Rate Mechanism II * EUR 1 = CU ... Country Currency From ... ISO currency codeType of rate 1 Jan. 1999 17 Jan. 2000 28 June 2004 2 May 2005 28 Nov. 2005 19 Mar. 2007 29 May 2008 Denmark Upper rate 7.62824 7.62824 7.62824 7.62824 7.62824 7.62824 7.62824 Danish kroneCentral rate 1 7.46038 7.46038 7.46038 7.46038 7.46038 7.46038 7.46038 DKK Lower rate 7.29252 7.29252 7.29252 7.29252 7.29252 7.29252 7.29252 Greece Upper rate 406.075 391.863 − − − − − Greek drachmaCentral rate 1 353.1092 340.750 − − − − − GRD Lower rate 300.143 289.638 − − − − − Estonia Upper rate − − 17.9936 17.9936 17.9936 17.9936 17.9936 Estonian kroonCentral rate − − 15.6466 15.6466 15.6466 15.64663 15.6466 EEK Lower rate − − 13.2996 13.2996 13.2996 13.2996 13.2996 Lithuania Upper rate − − 3.97072 3.97072 3.97072 3.97072 3.97072 Lithuanian litasCentral rate − − 3.45280 3.45280 3.45280 3.452804 3.45280 LTL Lower rate − − 2.93488 2.93488 2.93488 2.93488 2.93488 Slovenia Upper rate − − 275.586 275.586 275.586 − − Slovenian tolarCentral rate − − 239.640 239.6405 239.640 − − SIT Lower rate − − 203.694 203.694 203.694 − − Cyprus Upper rate − − − 0.673065 0.673065 0.673065 − Cyprus poundCentral rate − − − 0.585274 0.5852746 0.585274 − CYP Lower rate − − − 0.497483 0.497483 0.497483 − Latvia Upper rate − − − 0.808225 0.808225 0.808225 0.808225 Latvian latsCentral rate − − − 0.702804 0.702804 0.7028047 0.702804 LVL Lower rate − − − 0.597383 0.597383 0.597383 0.597383 Malta Upper rate − − − 0.493695 0.493695 0.493695 − Maltese liraCentral rate − − − 0.429300 0.4293006 0.429300 − MTL Lower rate − − − 0.364905 0.364905 0.364905 − Slovakia Upper rate − − − − 44.2233 40.7588 34.6449 Slovak korunaCentral rate − − − − 38.4550 35.44248 30.1260 SKK Lower rate − − − − 32.6868 30.1260 25.6071 Source: ECB. * One prerequisite before an EU Member State can join the euro area is 2001. 3 Until 31 December 2010; accession to the euro area on 1 January 2011. that its currency must have observed the normal fluctuation margins of Exchange 4 Until 31 December 2014; accession to the euro area on 1 January 2015. 5 Until Rate Mechanism II (the standard fluctuation band is + 15%) for at least two years 31 December 2006; accession to the euro area on 1 January 2007. 6 Until 31 Decem- without devaluing against the euro. The Danish krone has a fluctuation band of ber 2007; accession to the euro area on 1 January 2008. 7 Until 31 December 2013; + 2.25% on either side of the central rate. 1 According to the EU communiqué of 31 accession to the euro area on 1 January 2014. 8 Until 31 December 2008; accession December 1998. 2 Until 31 December 2000; accession to the euro area on 1 January to the euro area on 1 January 2009. Deutsche Bundesbank Exchange rate statistics May 2019 8 II. Euro foreign exchange reference rates of the European Central Bank * 1. Daily rates EUR 1 = CU ... EU member countries Bulgaria Croatia Czechia Denmark Hungary Poland Romania Sweden Bulgarian lev Kuna Czech koruna Danish krone Hungarian forint Polish zloty Romanian leu Swedish krona Period BGN HRK CZK DKK HUF PLN RON SEK 2019 Feb. 1 1.9558 7.4150 25.695 7.4654 317.63 4.2739 4.7557 10.3878 4 1.9558 7.4155 25.728 7.4654 317.80 4.2816 4.7560 10.4113 5 1.9558 7.4120 25.697 7.4650 317.41 4.2872 4.7455 10.3998 6 1.9558 7.4149 25.781 7.4652 318.63 4.2923 4.7429 10.4258 7 1.9558 7.4124 25.809 7.4636 319.29 4.3022 4.7399 10.4730 8 1.9558 7.4075 25.806 7.4634 318.33 4.3064 4.7485 10.4973 11 1.9558 7.4075 25.836 7.4637 319.66 4.3158 4.7405 10.4858 12 1.9558 7.4080 25.871 7.4623 317.79 4.3259 4.7414 10.4725 13 1.9558 7.4045 25.795 7.4618 318.23 4.3285 4.7433 10.4083 14 1.9558 7.4063 25.790 7.4615 319.07 4.3382 4.7439 10.4775 15 1.9558 7.4080 25.709 7.4612 318.21 4.3307 4.7407 10.4813 18 1.9558 7.4125 25.715 7.4620 318.01 4.3292 4.7405 10.4685 19 1.9558 7.4130 25.717 7.4619 318.46 4.3347 4.7492 10.6000 20 1.9558 7.4135 25.679 7.4614 317.33 4.3445 4.7567 10.5703 21 1.9558 7.4155 25.648 7.4619 317.24 4.3346 4.7565 10.6188 22 1.9558 7.4230 25.667 7.4620 318.03 4.3370 4.7611 10.5998 25 1.9558 7.4290 25.653 7.4615 317.62 4.3360 4.7643 10.5793 26 1.9558 7.4275 25.663 7.4616 317.06 4.3282 4.7626 10.5858 27 1.9558 7.4285 25.661 7.4611 316.39 4.3146 4.7388 10.5443 28 1.9558 7.4275 25.601 7.4611 315.96 4.3089 4.7434 10.4844 Mar.
Load more

Recommended publications
  • Public Opinion in Bulgaria in 2018: EU Membership and Further Integration
    Policy brief June 2018 Public opinion in Bulgaria in 2018: EU membership and further integration Marin Lessenski, Open Society Institute – Sofia www.osis.bg Contents Introduction and summary of the findings ................................................................................................... 2 Results concerning EU membership ............................................................................................................. 3 Assessment of EU membership .................................................................................................................... 4 Advantages of EU membership ..................................................................................................................... 5 Support to parties that would want leaving the EU ..................................................................................... 7 Support to further integration: Eurozone membership ............................................................................... 8 Comparison between questions about Eurozone membership and replacing the lev with the euro ........ 10 Support to further integration: Schengen membership ............................................................................. 12 Trust in institutions and the EU .................................................................................................................. 12 Results according to profiles of the respondents ....................................................................................... 13 June 2018 Public
    [Show full text]
  • Bulgaria Economy Briefing: BULGARIA on HER WAY to the EUROZONE – CURRENT STATUS, POSITIVE and NEGATIVE IMPACTS Evgeniy Kandilarov
    ISSN: 2560-1601 Vol. 17, No. 2 (BG) April 2019 Bulgaria economy briefing: BULGARIA ON HER WAY TO THE EUROZONE – CURRENT STATUS, POSITIVE AND NEGATIVE IMPACTS Evgeniy Kandilarov 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: Chen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 BULGARIA ON HER WAY TO THE EUROZONE – CURRENT STATUS, POSITIVE AND NEGATIVE IMPACTS One of the very substantial things with a serious financial and economic impact that has been planned to happen in 2019 is the Bulgaria to join t the so called Exchange Rate Mechanism (ERM2) as well as the European Banking Union as a precondition of the entrance of country in the Eurozone. The ERM II is the European Central Bank’s exchange rate mechanism, sometimes referred to as the “waiting room” for the Euro. Bulgaria’s government approved on July 18 2018 the formal application for close co-operation with the European central bank (ECB), the first step towards joining the ERM II. The agreement on ERM II preparation includes several additional commitments, which will help support financial sector supervision, improve SOE governance, and strengthen the anti-money laundering (AML) framework. Completing these commitments and joining ERM II and the banking union would further underpin the credibility of policies, in addition to many benefits that the EU membership has brought. The "Eurozone waiting room" is a jargon that appeared about 20 years ago. The idea is that when countries did not have a very fixed exchange rate between themselves before entering the euro, they had a minimum of 2 years of preparatory period in which the exchange rates were expected, the interest rates to get closer.
    [Show full text]
  • Market Wrap-Up Th July 19 2018
    MARKET WRAP-UP JULY 19TH 2018 Bulgaria MACRO 120 Bulgaria submits official application for 115 cooperation with ECB 110 Bulgaria has submitted official application for 105 cooperation with the European Central Bank, according to announcement published by the Ministry of Finance. This 100 step comes after the Eurogroup gave Bulgaria the greenlight th to proceed with its application to ERM II on 12 Jul’18. 95 All EU members, currently not part of the Eurozone, have to collaborate with ECB prior to enter the Banking Union and 90 ERM II. The collaboration will take between 6 and 12 months 85 during which time ECB will supervise the Bulgarian banking system. The institution will also propose changes to the local 80 banking legislation in order to adapt it to European regulations. SOFIX Index MXFMCE Index (EUR) State-owned railway transport company BDZ to get Source: Bloomberg subsidy of up to BGN 100m in 2020, according to local OVERALL MARKET DATA media sources. The state aid will be used for the purchase Total Market Cap: 9.4bn of new trains. The media quoted transport minister Ivaylo Total Turnover (FY 2017, regulated market) 705.9m Moskovski who said that BDZ’ indebtedness currently stays at about BGN 100m, down from BGN 800m. He also added Average Daily Turnover (FY 2017, regulated market) 2.85m that part of the money from upcoming Sofia airport Figures are in Bulgarian lev /BGN/ Source: Bulgarian Stock Exchange concession will be used to cut down on BDZ’ debts. MARKET MULTIPLES Index Last 6M%∆ 12M%∆ P/E P/B D/Y SOFIX 628.47 -10.15% -11.62%
    [Show full text]
  • WM/Refinitiv Closing Spot Rates
    The WM/Refinitiv Closing Spot Rates The WM/Refinitiv Closing Exchange Rates are available on Eikon via monitor pages or RICs. To access the index page, type WMRSPOT01 and <Return> For access to the RICs, please use the following generic codes :- USDxxxFIXz=WM Use M for mid rate or omit for bid / ask rates Use USD, EUR, GBP or CHF xxx can be any of the following currencies :- Albania Lek ALL Austrian Schilling ATS Belarus Ruble BYN Belgian Franc BEF Bosnia Herzegovina Mark BAM Bulgarian Lev BGN Croatian Kuna HRK Cyprus Pound CYP Czech Koruna CZK Danish Krone DKK Estonian Kroon EEK Ecu XEU Euro EUR Finnish Markka FIM French Franc FRF Deutsche Mark DEM Greek Drachma GRD Hungarian Forint HUF Iceland Krona ISK Irish Punt IEP Italian Lira ITL Latvian Lat LVL Lithuanian Litas LTL Luxembourg Franc LUF Macedonia Denar MKD Maltese Lira MTL Moldova Leu MDL Dutch Guilder NLG Norwegian Krone NOK Polish Zloty PLN Portugese Escudo PTE Romanian Leu RON Russian Rouble RUB Slovakian Koruna SKK Slovenian Tolar SIT Spanish Peseta ESP Sterling GBP Swedish Krona SEK Swiss Franc CHF New Turkish Lira TRY Ukraine Hryvnia UAH Serbian Dinar RSD Special Drawing Rights XDR Algerian Dinar DZD Angola Kwanza AOA Bahrain Dinar BHD Botswana Pula BWP Burundi Franc BIF Central African Franc XAF Comoros Franc KMF Congo Democratic Rep. Franc CDF Cote D’Ivorie Franc XOF Egyptian Pound EGP Ethiopia Birr ETB Gambian Dalasi GMD Ghana Cedi GHS Guinea Franc GNF Israeli Shekel ILS Jordanian Dinar JOD Kenyan Schilling KES Kuwaiti Dinar KWD Lebanese Pound LBP Lesotho Loti LSL Malagasy
    [Show full text]
  • Currencies of the European Union. Eurozone European Union
    CURRENCIES OF THE EUROPEAN UNION. EUROZONE EUROPEAN UNION The European Union (EU) is an economic and political union of 28 member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community (ECSC) and the European Economic Community (EEC), formed by six countries in 1958. CURRENCIES OF THE EUROPEAN UNION As of 2015 there are 11 currencies; The principal currency - Euro (used by 19 members of the EU – Eurozone); All but 2 states are obliged to adopt the currency: Denmark and the United Kingdom, through a legal opt-out from the EU treaties, have retained the right to operate independent currencies within the European Union. The remaining 8 states must adopt the Euro eventually. CURRENCIES OF THE EUROPEAN UNION № Currency Region Year Euro adoption plans 1 Euro Eurozone 1999/2002 Also used by the institutions 2 Bulgarian lev Bulgaria 2007 No target date for euro adoption British pound sterling United Kingdom 3 1973 Opt-out Gibraltar pound Gibraltar 4 Croatian kuna Croatia 2013 No target date for euro adoption 5 Czech koruna Czech Republic 2004 No target date for euro adoption 6 Danish krone Denmark 1973 Opt-out 7 Hungarian forint Hungary 2004 No target date for euro adoption 8 Polish złoty Poland 2004 No target date for euro adoption 9 Romanian leu Romania 2007 Official target date: 1 January 2019 10 Swedish krona Sweden 1995 Pending referendum approval Also unofficially used in Büsingen Campione 11 Swiss franc 1957 am Hochrhein, Germany. Swiss d'Italia(Italy) Franc is issued by Switzerland. EUROZONE The European Union consists of those countries that meet certain membership and accession criteria.
    [Show full text]
  • Commission Implementing Regulation (EU) 2018/1580
    Changes to legislation: There are currently no known outstanding effects for the Commission Implementing Regulation (EU) 2018/1580. (See end of Document for details) Commission Implementing Regulation (EU) 2018/1580 of 19 October 2018 amending Implementing Regulation (EU) 2015/2197 laying down implementing technical standards with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance) COMMISSION IMPLEMENTING REGULATION (EU) 2018/1580 of 19 October 2018 amending Implementing Regulation (EU) 2015/2197 laying down implementing technical standards with regard to closely correlated currencies in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (Text with EEA relevance) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012(1) and in particular Article 354(3) thereof, Whereas: (1) In order to ensure that the currency pairs referred to in the Annex to Commission Implementing Regulation (EU) 2015/2197(2) continue to reflect the actual correlation between the relevant currencies, it is necessary to update the list of closely correlated currencies. (2) The list uses 31 March 2017 as the end date for the purpose of computing the three and five year data series required to assess the currency pairs in accordance with Regulation (EU) No 575/2013. (3) This Regulation is based on the draft implementing technical standards submitted by the European Banking Authority (EBA) to the Commission.
    [Show full text]
  • Evidence from the Bulgarian Currency Board
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Minea, Alexandru; Rault, Christophe Working Paper External monetary shocks and monetary integration: Evidence from the Bulgarian currency board IZA Discussion Papers, No. 5797 Provided in Cooperation with: IZA – Institute of Labor Economics Suggested Citation: Minea, Alexandru; Rault, Christophe (2011) : External monetary shocks and monetary integration: Evidence from the Bulgarian currency board, IZA Discussion Papers, No. 5797, Institute for the Study of Labor (IZA), Bonn, http://nbn-resolving.de/urn:nbn:de:101:1-201106224786 This Version is available at: http://hdl.handle.net/10419/52066 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an
    [Show full text]
  • BGN - Bulgarian Lev
    Published on Cash Management (https://cashmanagement.bnpparibas.com) BGN - Bulgarian Lev Image type unknown https://cashmanagement.bnpparibas.com/sites/all/themes/basic/resources/img/currency_icons/1.svg Overview The payment processing of this currency is considered to be highly standardised. Image type unknown https://cashmanagement.bnpparibas.com/sites/all/themes/basic/resources/img/currency_icons/2.svg Currency Guidelines Payments in BGN toward Bulgaria Besides the standard information, the IBAN format is mandatory (see Appendix VI [1]). A clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays. Example: Payment of travel expenses ? invoice n° 123456789 For tax payments, it is necessary to add the BULSTAT and payment type code. The BULSTAT code is the tax identification number (nine digit code) for Bulgarian legal entities. The payment type code is a six digit code defined by the Ministry of Finance and local regulation. Example of the BULSTAT and Payment type codes: BULSTAT 175296952 - PAYMENT CODE 110000. Additional information might be required, please contact your Account Manager for more information. Payments in BGN outside Bulgaria Beside standard information, a clear reason / purpose of payment is recommended and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
    [Show full text]
  • 326 Final REPORT from the COMMISSION to the EUROPEAN
    EUROPEAN COMMISSION Brussels, 4.6.2014 COM(2014) 326 final REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL CONVERGENCE REPORT 2014 (prepared in accordance with Article 140(1) of the Treaty on the Functioning of the European Union) {SWD(2014) 177 final} EN EN 1. PURPOSE OF THE REPORT Article 140(1) of the Treaty on the Functioning of the European Union (hereafter TFEU) requires the Commission and the European Central Bank (ECB) to report to the Council, at least once every two years, or at the request of a Member State with a derogation1, on the progress made by the Member States in fulfilling their obligations regarding the achievement of economic and monetary union. The latest Commission and ECB Convergence Reports relating to all Member States with a derogation were adopted in May 20122. The 2014 Convergence Report covers the following eight Member States with a derogation: Bulgaria, the Czech Republic, Croatia, Lithuania, Hungary, Poland, Romania and Sweden3. A more detailed assessment of the state of convergence in these Member States is provided in a Technical Annex to this Report (SWD(2014) 177). At the time of the Convergence Report in 2012, Member States had shown uneven progress with convergence, as many of them were undergoing significant adjustments of previously accumulated macroeconomic imbalances, against the background of the economic and financial crisis. The present examination takes place in a still difficult external environment, though with a generally stronger recovery in Member States with a derogation and lower risk perception by financial markets. The content of the reports prepared by the Commission and the ECB is governed by Article 140(1) of the TFEU.
    [Show full text]
  • EUROPEAN COMMISSION Brussels, 10.6.2020 SWD(2020)
    EUROPEAN COMMISSION Brussels, 10.6.2020 SWD(2020) 107 final COMMISSION STAFF WORKING DOCUMENT CONVERGENCE REPORT 2020 Accompanying the document REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT AND THE COUNCIL CONVERGENCE REPORT 2020 (prepared in accordance with Article 140(1) of the Treaty on the Functioning of the European Union) {COM(2020) 237 final} EN EN ABBREVIATIONS Member States BG Bulgaria CZ Czechia HR Croatia HU Hungary PL Poland RO Romania SE Sweden EA Euro area EA-19 Euro area, 19 Member States EA-18 Euro area, 18 Member States before 2015 EA-17 Euro area, 17 Member States before 2014 EU-28 European Union, 28 Member States EU-27 European Union, 27 Member States before July 2013 (i.e. EU-28 excl. HR) and from February 2020 (i.e. EU-28 excl. UK) EU-25 European Union, 25 Member States before 2007 (i.e. EU-28 excl. BG, RO and HR) EU-15 European Union, 15 Member States before 2004 Currencies EUR Euro BGN Bulgarian lev CZK Czech koruna HRK Croatian kuna HUF Hungarian forint PLN Polish zloty RON Romanian leu (ROL until 30 June 2005) SEK Swedish krona USD United States dollar Central Banks BNB Bulgarska narodna banka (Bulgarian National Bank – central bank of Bulgaria) ČNB Česká národní banka (Czech National Bank – central bank of Czechia) HNB Hrvatska narodna banka (Croatian National Bank – central bank of Croatia) MNB Magyar Nemzeti Bank (Hungarian National Bank – central bank of Hungary) NBP Narodowy Bank Polski (National Bank of Poland – central bank of Poland) BNR Banca Naţională a României (National Bank of Romania – central
    [Show full text]
  • Evaluating Governance and Corruption Risks in Bulgaria Evaluating Governance and Corruption Risks in Bulgaria
    EVALUATING GOVERNANCE AND CORRUPTION RISKS IN BULGARIA Evaluating govErnancE and corruption risks in Bulgaria CASE STUDIEs ON tHE PUBLIC PROCUREMENT MARKEt IN tHE CONSTRUCTION sECTOR AND tHE iMPACT oF Eu CONDITIONALITY Corruption continues to be one of the main social problems for Bulgaria a decade after the country’s EU accession. The Bulgarian public is one of the few in Europe, which trusts EU institutions more than its own government to find a sustainable solution to this problem. Making sure the mechanisms of EU conditionality and public procurement support deliver on these high expectations is of paramount importance for delivering a lasting solution to Bulgaria’s rule of law problems. As part of the largest ever team of social sciences and humanities in Europe – ANTICORRP.eu, CSD has developed two case studies, which help explain the key risks of corruption in the public procurement market in construction and the way the EU has impacted Bulgarian progress on anti-corruption. The Bulgarian Public Procurement Market: Corruption Risks and Dynamics in the Construction Sector Authors: ruslan stefanov stefan karaboev todor Yalamov Improving governance in Bulgaria: Evaluating the Impact of EU Conditionality through Policy and Financial Assistance Authors: ruslan stefanov stefan karaboev Editors: dr. ognian shentov dr. alexander stoyanov dr. todor galev This project is co-funded by the Seventh Framework Programme for Research and Technological Development of the European Union This publication has been produced thanks to the support of the European Union’s Seventh Framework Programme for Research – Socio-economic Sciences and Humanities theme (EU Grant Agreement number: 290529). The information and views set out in this publication are those of the author(s) only and do not reflect any collective opinion of the ANTICORRP consortium, nor do they reflect the official opinion of the European Commission.
    [Show full text]
  • Bulgaria Economy Briefing: Draft National Plan for the Introduction of the Euro in Bulgaria Has Been Published for Public Discussion Evgeniy Kandilarov
    ISSN: 2560-1601 Vol. 42, No. 2 (BG) July 2021 Bulgaria economy briefing: Draft National Plan for the Introduction of the Euro in Bulgaria has been Published for Public Discussion Evgeniy Kandilarov 1052 Budapest Petőfi Sándor utca 11. +36 1 5858 690 Kiadó: Kína-KKE Intézet Nonprofit Kft. [email protected] Szerkesztésért felelős személy: CHen Xin Kiadásért felelős személy: Huang Ping china-cee.eu 2017/01 Draft National Plan for the Introduction of the Euro in Bulgaria has been Published for Public Discussion Summary Bulgarian government has confirmed the country’s plans to adopt the euro as its official currency on 1 January, 2024, without a transitional preparatory period – all institutions and shops in the country will be obliged to accept payments in euros from the first moment of its adoption. After the introduction of the euro within a month, the Bulgarian lev and the euro will be both legal currencies. The strategic document for the introduction of the euro is the draft National Plan for the Introduction of the Euro in Bulgaria. The project was prepared by the Coordination Council for Preparation of the Republic of Bulgaria for Euro Area Membership and was published this month for public discussion. The euro is currently the currency in 19 EU Member States, and is used by nearly 341.9 million people. The countries that have adopted the euro are: Austria, Belgium, Germany, Greece, Estonia, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Finland and France. In order to be able to adopt the euro, EU member states must meet the so-called "Convergence criteria".
    [Show full text]