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Exchange rates to calculate the turnover

Since 1 January 1999, the European Central Bank (ECB) publishes in its Monthly Bulletin the monthly exchange rates in a limited number of non-Eurozone currencies:

  1. Find the latest edition of the "Monthly Bulletin".
  2. Select the "Euro Area Statistics" section.
  3. Go to point 8 "Exchange rates" and to the table "Bilateral Exchange Rates.

You can use the "navigation pane" in Acrobat Reader to quickly select the appropriate section and subsection.

Alternatively, you can search for monthly rates on the ECB website.

Should these sources not include certain currencies, you may use the most reliable source for the exchange rate and quote this source in the documents that will be sent with the notification.

Simplified method to obtain the average rate used to calculate the turnover

This is the methodology to calculate the annual average rate, when the financial year does not correspond with the calendar year.

Example: from 01 April 1993 to 31 March 1994
Average rate (April - March) =

( (average 1993/04) + (average 1993/05) + (average 1993/06)
+ (average 1993/07) + (average 1993/08) + (average 1993/09)
+ (average 1993/10) + (average 1993/11) + (average 1993/12)
+ (average 1994/01) + (average 1994/02) + (average 1994/03) ) / 12
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