21.8.93 OfficialJournaloftheEuropean Communities NoL210/13
COMMISSION REGULATION (EEC)No2332/93
of20August1993
fixingtheagricultural conversion rates
THECOMMISSION OFTHEEUROPEAN COMMUNITIES ,
HavingregardtotheTreatyestablishing theEuropean
Economic Community ,
HavingregardtoCouncilRegulation (EEC)No3813/92
of28December 1992ontheunitofaccountandthe
conversion ratestobeappliedforthepurposesofthe
commonagricultural policy('),andinparticularArticle3
(1)thereof,
Whereastheagricultural conversion rateswerefixedby
Commission Regulation (EEC)No2289/93(2);
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,
theterm'monetarygap'isdefinedasthepercentage of
theagricultural conversion raterepresenting thediffer­
encebetweenthatrateandtherepresentative marketrate;
Whereastherepresentative marketratesaredetermined
onthebasisofreferenceperiodsdetermined inaccord­
ancewithCommission Regulation (EEC)No1068/93of
30April1993ondetailedrulesfordetermining and
applyingtheagricultural conversion rates(3);
Whereas ,inviewofthedecisionbytheMinisters of
Financeon2August1993,alltheMemberStates'curren­
ciesaretoberegardedfloatingflootingcurrencies in
accordance withArticle 1(b)ofRegulation (EEC)
No3813/92;
Whereas ,asaconsequence oftheexchangeratesrecorded
duringthereferenceperiod11to20August 1993,itis
necessarytofixanewagricultural conversion rateforthe
Frenchfranc;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 ,
HASADOPTED THISREGULATION :
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 .
Article3
Regulation (EEC)No2289/93isrepealed .
Article4
ThisRegulation shallenterintoforceon21August1993.
ThisRegulation shallbebindinginitsentiretyanddirectlyapplicable inallMember
States.
DoneatBrussels,20August1993.
FortheCommission
ReneSTEICHEN
MemberoftheCommission
(')OJNoL387,31.12.1992,p.1.
OOJNoL205,17.8.1993,p.19.
(')OJNoL108,1.5.1993,p.106.

NoL210/14 OfficialJournaloftheEuropean Communities 21.8.93
ANNEXI
Agricultural conversion rates
ECU 1=48,5563
9,34812
2,35418
319,060
190,382
7,98191
0,976426
2166,58
2,65256
236,933
0,920969Belgianand
Luxembourg francs
Danishkroner
German marks
Greekdrachmas
Spanishpesetas
Frenchfrancs
Irishpunt
Italianlire
Dutchguilders
Portuguese escudos
Poundsterling
ANNEXII
Agricultural conversion ratesfixedinadvanceandadjusted
TableA TableB
ECU1=46,6888 Belgianand ECU1=50,5795 Belgianand
Luxembourg francs Luxembourg francs
8,98858 Danishkroner 9,73763 Danishkroner
2,26363 Germanmarks 2,45227 Germanmarks
306,788 Greekdrachmas 332,354 Greekdrachmas
183,060 Spanishpesetas 198,315 Spanishpesetas
7,67491 Frenchfrancs 8,31449 Frenchfrancs
0,938871 Irishpunt 1,01711 Irishpunt
2083,25 Italianlire 2256,85 Italianlire
2,55054 Dutchguilders 2,76308 Dutchguilders
227,820 Portuguese escudos 246,805 Portuguese escudos
0,885547 Poundsterling 0,959343 Poundsterling