Central Rate

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Central Rate

In the European Monetary System, an exchange rate for a currency relative to the European currency unit. Each currency is permitted to move within a narrow range of the central rate, making each currency in the European Monetary System a semi-pegged currency.
References in periodicals archive ?
At the same time as the Council decided which countries will take part in EMU, it was announced that the exchange rates at which their currencies will irrevocably lock together will be the present ERM bilateral central rates.
Britain entered the ERM on October 8, 1990, with fluctuation margins of |+ or -~ 6 percent around bilateral central rates, instead of the usual |+ or -~ 2.
On September 13, the lira's central rate was devalued by 7 percent.
After Britain joined the ERM, the pound moved most of the time comfortably in the |+ or -~ 6 percent band around its central rate.
The CSGE bemoans the fact that the pay structure in West Bengal is already below the level of those in several other states such as Delhi or UP, which are paid at par with central rates.
Differences over promotion policy, absorption of daily wagers and contract employees and pension at central rates became important issues.
Central rates in ECUs are set for the currencies of those countries participating in the exchange rate mechanism (ERM), and they are used to establish a grid of bilateral central rates.
Changes in the central rates are always possible, but the decision can never be a unilateral one.
The corresponding ERM central rates are shown below the diagonal.
As can be seen by comparing the two halves of the table, only the central rate of the French franc against the lira appears to be close to equilibrium.
In our forecast exchange-rate changes depend only upon risk adjusted interest differentials, and our projected differentials would only require realignments of central rates every two years or so, normally triggered by the lire.
From the beginning of January the central rate was depreciated by 3.

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