# Official Journal C 452/2020

| | ISSN 1977-091X |
| --- | --- |
| Official Journal
  of the European Union | C 452 |
| | |
| English edition | Information and Notices | Volume 6330 December 2020 |

ISSN 1977-091X

Official Journal

of the European Union

C 452

English edition

Information and Notices

Volume 6330 December 2020

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| Contents | page |
| --- | --- |
| | III   Preparatory acts |
| | EUROPEAN CENTRAL BANK |
| 2020/C 452/01 | Opinion of the European Central Bank of 1 December 2020 concerning exchange rate matters relating to the CFA franc and the Comorian franc (CON/2020/31) | 1 |

Contents

page

III   Preparatory acts

EUROPEAN CENTRAL BANK

2020/C 452/01

Opinion of the European Central Bank of 1 December 2020 concerning exchange rate matters relating to the CFA franc and the Comorian franc (CON/2020/31)

1

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| | IV   Notices |
| --- | --- |
| | NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES |
| | European Commission |
| 2020/C 452/02 | Euro exchange rates — 29 December 2020 | 3 |

IV   Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

2020/C 452/02

Euro exchange rates — 29 December 2020

3

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| EN | |
| --- | --- |

EN

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III Preparatory acts

EUROPEAN CENTRAL BANK

| 30.12.2020 | EN | Official Journal of the European Union | C 452/1 |
| --- | --- | --- | --- |

30.12.2020

EN

Official Journal of the European Union

C 452/1

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OPINION OF THE EUROPEAN CENTRAL BANK

of 1 December 2020

concerning exchange rate matters relating to the CFA franc and the Comorian franc

(CON/2020/31)

(2020/C 452/01)

Introduction and legal basis

On 3 November 2020 the European Central Bank (ECB) received a request from the Council of the European Union for an opinion on a Recommendation for a Council Decision amending the Council Decision of 23 November 1998 concerning exchange rate matters relating to the CFA franc and the Comorian franc (98/683/EC) (1) (hereinafter the ‘Recommendation’). The ECB’s competence to deliver an opinion is based on Article 219(3) of the Treaty on the Functioning of the European Union.

In accordance with the first sentence of Article 17.5 of the Rules of Procedure of the ECB, this opinion has been adopted by the Governing Council of the ECB.

1.   General observations

| 1.1. | The Recommendation proposes limited changes to Council Decision 98/683/EC (2) to expressly provide for the possibility for France and the relevant third countries of the Union économique et monétaire ouest-africaine (UEMOA, West African Economic and Monetary Union), the Communauté économique et monétaire de l’Afrique Centrale (CEMAC, Central African Economic and Monetary Community) and the Comoros to enter into new agreements that entirely replace the existing agreements between them and referred to in Council Decision 98/683/EC, rather than amending those existing agreements. The Recommendation also envisages the eventual renaming of the currencies of the UEMOA, the CEMAC and the Comoros. |
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1.1.

| 1.2. | The ECB notes that the existing agreements concerning exchange rate matters between France and the UEMOA, the CEMAC and the Comoros [that are currently in force] ensure convertibility between the euro and the currencies of the UEMOA, the CEMAC and the Comoros at a fixed parity. Under these agreements, the guarantee of convertibility is based on a budgetary commitment of the French Treasury, and not on any commitment on the part of the Banque de France. As stated in the recitals to Council Decision 98/683/EC, and as previously emphasised by the ECB, these agreements are unlikely to have any material impact on the monetary and exchange rate policy of the euro area, nothing in them can be construed as implying an obligation for the ECB or any national central bank in the European System of Central Banks to support the convertibility of these currencies, and modifications to the existing agreements will not lead to any obligations for the ECB or any national central bank (3). |
| --- | --- |

1.2.

2.   Specific observations

| 2.1. | The ECB notes that the recommended replacement of references to the CFA franc with references to the general term ‘currency’ of the respective currency areas reflects the potential renaming of the CFA franc and the Comorian franc in the new agreements to be concluded between France and the relevant third countries. |
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2.1.

| 2.2. | Pursuant to Council Decision 98/683/EC, France is authorised to negotiate and conclude modifications to its existing agreements with the UEMOA, the CEMAC and the Comoros. The proposal in the Recommendation is that France should also be authorised, subject to approval by the Council, to replace those existing agreements. The ECB understands that the limited changes proposed to Council Decision 98/683/EC by the Recommendation do not otherwise alter the legal regime established by that Council Decision. In this respect, the Recommendation does not propose any alteration of the provisions of Council Decision 98/683/EC concerning the ECB’s consultative role in future changes to the nature and scope of these agreements, nor the ECB’s right to be informed about the implementation of, or modifications that do not change the nature and scope of, these agreements.
  This Opinion will be published on EUR-Lex. |
| --- | --- |

2.2.

This Opinion will be published on EUR-Lex.

Done at Frankfurt am Main, 1 December 2020.

The President of the ECB

Christine LAGARDE

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(1)  COM/2020/658 final.

1

(2)  Council Decision of 23 November 1998 concerning exchange rate matters relating to the CFA franc and the Comorian franc (98/683/EC) (OJ L 320, 28.11.1998, p. 58).

2

(3)  See recital 7 of Council Decision 98/683/EC; see also paragraph 3 of ECB Opinion CON/1998/37. All ECB opinions are published on EUR-Lex.

3

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IV Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES AND AGENCIES

European Commission

| 30.12.2020 | EN | Official Journal of the European Union | C 452/3 |
| --- | --- | --- | --- |

30.12.2020

EN

Official Journal of the European Union

C 452/3

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Euro exchange rates (1)

29 December 2020

(2020/C 452/02)

1 euro =

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,2259 |
| JPY | Japanese yen | 127,23 |
| DKK | Danish krone | 7,4382 |
| GBP | Pound sterling | 0,90863 |
| SEK | Swedish krona | 10,0840 |
| CHF | Swiss franc | 1,0862 |
| ISK | Iceland króna | 156,30 |
| NOK | Norwegian krone | 10,5500 |
| BGN | Bulgarian lev | 1,9558 |
| CZK | Czech koruna | 26,302 |
| HUF | Hungarian forint | 364,53 |
| PLN | Polish zloty | 4,5308 |
| RON | Romanian leu | 4,8757 |
| TRY | Turkish lira | 9,0177 |
| AUD | Australian dollar | 1,6121 |
| CAD | Canadian dollar | 1,5713 |
| HKD | Hong Kong dollar | 9,5043 |
| NZD | New Zealand dollar | 1,7171 |
| SGD | Singapore dollar | 1,6274 |
| KRW | South Korean won | 1 340,33 |
| ZAR | South African rand | 17,9651 |
| CNY | Chinese yuan renminbi | 8,0070 |
| HRK | Croatian kuna | 7,5447 |
| IDR | Indonesian rupiah | 17 305,60 |
| MYR | Malaysian ringgit | 4,9655 |
| PHP | Philippine peso | 58,903 |
| RUB | Russian rouble | 90,1883 |
| THB | Thai baht | 36,826 |
| BRL | Brazilian real | 6,3717 |
| MXN | Mexican peso | 24,4001 |
| INR | Indian rupee | 89,9420 |

Currency

Exchange rate

USD

US dollar

1,2259

JPY

Japanese yen

127,23

DKK

Danish krone

7,4382

GBP

Pound sterling

0,90863

SEK

Swedish krona

10,0840

CHF

Swiss franc

1,0862

ISK

Iceland króna

156,30

NOK

Norwegian krone

10,5500

BGN

Bulgarian lev

1,9558

CZK

Czech koruna

26,302

HUF

Hungarian forint

364,53

PLN

Polish zloty

4,5308

RON

Romanian leu

4,8757

TRY

Turkish lira

9,0177

AUD

Australian dollar

1,6121

CAD

Canadian dollar

1,5713

HKD

Hong Kong dollar

9,5043

NZD

New Zealand dollar

1,7171

SGD

Singapore dollar

1,6274

KRW

South Korean won

1 340,33

ZAR

South African rand

17,9651

CNY

Chinese yuan renminbi

8,0070

HRK

Croatian kuna

7,5447

IDR

Indonesian rupiah

17 305,60

MYR

Malaysian ringgit

4,9655

PHP

Philippine peso

58,903

RUB

Russian rouble

90,1883

THB

Thai baht

36,826

BRL

Brazilian real

6,3717

MXN

Mexican peso

24,4001

INR

Indian rupee

89,9420

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(1)  Source: reference exchange rate published by the ECB.

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