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July 13, 2020










European Central Bank and the Bulgarian National Bank will intervene if bulgarian currency falls to 1.66 or rises above 2.24 for one euro.


As of today, the Bulgarian lev has a central rate set by the ECB according to the rules of the exchange rate mechanism. The decision for bulgarian admission was announced last Friday at 7 pm, Bulgarian time, after the closing of the stock markets.

The course takes effect today. The ECB will intervene if it falls to BGN 1.66246 per euro or if it jumps to BGN 2.24920 per euro. The central rate is the one with which Bulgaria enter ERM-2 - 1.95583 lv for 1euro , together with the currency board.

According to the rules of the exchange rate mechanism, the lev is entitled to a 'corridor' for fluctuations of plus or minus 15% relative to the exchange rate fixed at the date of entry. In case of larger deviations, the ECB must intervene to stabilize the Bulgarian currency during its stay in the waiting room.

At the moment, there is no reason to expect any fluctuations. If intervention is necessary, it will be  done through the purchase and sale of currency and will be coordinated by the ECB and the team of Bulgarian National Bank.

ECB WILL REGULATE THE  RATE OF THE BULGARIAN CURRENCY 

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