NoL190/50 OfficialJournaloftheEuropeanCommunities30.7.93
COMMISSION REGULATION (EEC)No2102/93
of29July1993
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,Whereas,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod27to29July1993,itis
necessarytofixanewagricultural conversion rateforthe
SpanishpesetaandthePortuguese escudo;
WhereasArticle15(3)ofRegulation (EEC)No1068/93
providesthatanagricultural conversion ratefixedin
advanceshallbeadjustedifthegapbetweenthatrateand
theagricultural conversion rateinforceatthetimeofthe
operativeeventapplicable forthecurrencyconcerned
exceedsfourpoints;whereas,inthatevent,theagricul­
turalconversion ratefixedinadvanceisbroughtmore
closelyintolinewiththerateinforce,uptothelevelofa
gapoffourpointswiththatrate;whereastheratewhich
replacestheagricultural conversion ratefixedinadvance
shouldbespecified ,HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No2010/93(2);
HASADOPTED THISREGULATION :WhereasArticle4(3)ofRegulation (EEC)No3813/92
stipulatesthatif,overareferenceperiod,theabsolute
valueofthedifference inthegapsbetweenthecurrencies
ofanytwoMemberStatesexceedsfourpoints,anymone­
tarygapsfortheMemberStatesconcerned thatexceed
twopointsshallimmediately bereducedtotwopoints;
whereas,inArticle 1(f)ofRegulation (EEC)No3813/92,
the-term'monetarygap'isdefinedasthepercentage of
theagricultural conversion raterepresenting the
differencebetweenthatrateandtherepresentative market
rate;Article 1
Theagricultural conversion ratesarefixedinAnnexI
hereto.
Article2
InthecasereferredtoinArticle15(3)ofRegulation
(EEC)No1068/93,theagricultural conversion ratefixed
inadvanceshallbereplacedbytheecurateforthe
currencyconcerned ,showninAnnexII:
—TableA,wherethelatterrateishigherthantherate
fixedinadvance,
or
—TableB,wherethelatterrateislowerthantherate
fixedinadvance .Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsestablished inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas,however ,Article2ofRegulation (EEC)
No1068/93providesthat,incaseswheretheabsolute
valueofthedifference betweenthemonetarygapsintwo
MemberStates,calculated fromtheaverageontheecu
ratesforthreeconsecutive workingdays,exceedssix
points:
—therepresentative marketratesforthecurrencies in
questionshallbeadjustedonthebasisofthethree
workingdaysinquestion ,
and
—thebasicreferenceperiodconcerned beginstheday
followingthesethreeworkingdays;Article3
Regulation (EEC)No2010/93isherebyrepealed.
Article4
ThisRegulation shallenterintoforceon30July1993.(•)UJINOL38/,31.12.1WL,p.1.
(2)OJNoL182,24.7.1993,p.48.
OOJNoL108,1.5.1993,p.106.

30.7.93 OfficialJournaloftheEuropeanCommunities NoL190/51
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,29July1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
ANNEXI
Agricultural conversion rates
ECU1=48,5563 Belgianand
Luxembourg francs
8,97989 Danishkroner
2,35418 Germanmarks
319,060 Greekdrachmas
186,835 Spanishpesetas
7,89563 Frenchfrancs
0,976426 Irishpunt
2166,58 Italianlire
2,65256 Dutchguilders
233,112 Portuguese escudos
0,930787 Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1■=46,6888 Belgianand ECU1=50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,63451 Danishkroner 9,35405 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
306,788 Greekdrachmas 332,354 Greekdrachmas
179,649 Spanishpesetas 194,620 Spanishpesetas
7,59195 Frenchfrancs 8,22461 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
224,146 Portuguese escudos 242,825 Portuguese escudos
0,894988 Poundsterling 0,969570 Poundsterling