Conversion factors for euro fixed series into euro/ECU (ert_bil_conv)

Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Eurostat, the statistical office of the European Union


Eurostat metadata
Reference metadata
1. Contact
2. Metadata update
3. Statistical presentation
4. Unit of measure
5. Reference Period
6. Institutional Mandate
7. Confidentiality
8. Release policy
9. Frequency of dissemination
10. Accessibility and clarity
11. Quality management
12. Relevance
13. Accuracy
14. Timeliness and punctuality
15. Coherence and comparability
16. Cost and Burden
17. Data revision
18. Statistical processing
19. Comment
Related Metadata
Annexes (including footnotes)



For any question on data and metadata, please contact: EUROPEAN STATISTICAL DATA SUPPORT

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1. Contact Top
1.1. Contact organisation

Eurostat, the statistical office of the European Union

1.2. Contact organisation unit

C2: National accounts - production

1.5. Contact mail address

2920 Luxembourg LUXEMBOURG


2. Metadata update Top
2.1. Metadata last certified 27/02/2012
2.2. Metadata last posted 08/12/2014
2.3. Metadata last update 09/03/2016


3. Statistical presentation Top
3.1. Data description

For the countries belonging to the euro area, these are factors for converting euro fixed series (NAC) into euro/ECU series (EUR), and vice-versa.

3.2. Classification system

National currencies

3.3. Coverage - sector

Not applicable.

3.4. Statistical concepts and definitions

Conversion factors

The aim of the conversion factors is to enable euro fixed series to be converted into euro/ECU series, and vice-versa. Euro fixed series can therefore be reconciled with the same series expressed in euro/ECU, without having first to convert data into the former national currency using the euro fixed rate.

The conversion factors for a particular euro-area country and time period are derived as follows. Conversion factor   =  

        euro/ECU exchange rate of former currency

                             euro fixed rate

In order to convert euro fixed data into euro/ECU, divide by the conversion factor of that country for the relevant period. For converting euro/ECU data into euro fixed, multiply by the conversion factor. For greater accuracy, the conversion factors should be used non-rounded.

To obtain the 'old' national currency series from the euro fixed series, multiply the latter by the relevant euro fixed factor as shown in the above table on euro fixed rates.

Euro fixed series (NAC): national currency series for euro-area countries. This currency denomination should be used for single country time series. Prior to the adoption of the euro, the data are converted from the former national currency by applying the euro fixed rate.

Euro/ECU series (EUR): series expressed in euro (from 1 January 1999), and ECU (until 31st December 1998). The euro replaced the ECU on a 1 : 1 basis. This currency denomination should be used for cross-country comparisons and for aggregation.

Euro fixed rate: irrevocably fixed conversion rates of former national currencies into euro (1 EUR = ...), as shown in the following table:

Currency

Rate against euro

Date of adoption of euro

BEF

40.3399

1 January 1999

DEM

1.95583

1 January 1999

ESP

166.386

1 January 1999

FRF

6.55957

1 January 1999

IEP

0.787564

1 January 1999

ITL

1936.27

1 January 1999

LUF

40.3399

1 January 1999

NLG

2.20371

1 January 1999

ATS

13.7603

1 January 1999

PTE

200.482

1 January 1999

FIM

5.94573

1 January 1999

GRD

340.750

1 January 2001

SIT

239.640

1 January 2007

MTL

0.429300

1 January 2008

CYP

0.585274

1 January 2008

SKK

30.1260

1 January 2009

EEK

15.6466

1 January 2011

LVL

0.702804

1 January 2014

LTL

3.45280

1 January 2015

3.5. Statistical unit

Not applicable.

3.6. Statistical population

Not applicable.

3.7. Reference area

Euro-area Member States

3.8. Coverage - Time

The lengths of series vary according to country. Series start in 1971 at the earliest, and end when the country enters the euro area. For 11 euro area Member States data are to 31/12/1998, Greece to 31/12/2000, Slovenia to 31/12/2006, Cyprus and Malta to 31/12/2007, Slovakia to 31/12/2008, Estonia to 31/12/2010, Latvia to 31/12/13, Lithuania to 31/12/14.

3.9. Base period

Not applicable.


4. Unit of measure Top

Not applicable.


5. Reference Period Top

Monthly, quarterly and annual data are available as average and as value at end of period.

Monthly average series start in January 1971: from that date until June 1974 these conversion factors are calculated on theoretical EUA rates based on the EUA basket. The rates vary according to changes in the market value of the component currencies. The annual averages for 1971-73 are an average of the 12 monthly rates, and thereafter based on daily rates.


6. Institutional Mandate Top
6.1. Institutional Mandate - legal acts and other agreements

The fixed conversion rates are adopted for the currency of each Member State of the euro area by the Council, in accordance with the first sentence of Article 123 (4) (ex-Article 109 l) of the Treaty establishing the European Community.

6.2. Institutional Mandate - data sharing

Not applicable.


7. Confidentiality Top
7.1. Confidentiality - policy

Regulation (EC) No 223/2009 on European statistics (recital 24 and Article 20(4)) of 11 March 2009 (OJ L 87, p. 164), stipulates the need to establish common principles and guidelines ensuring the confidentiality of data used for the production of European statistics and the access to those confidential data with due account for technical developments and the requirements of users in a democratic society.

7.2. Confidentiality - data treatment

Not available.


8. Release policy Top
8.1. Release calendar

Not applicable.

8.2. Release calendar access

Not applicable.

8.3. Release policy - user access

In line with the Community legal framework and the European Statistics Code of Practice Eurostat disseminates European statistics on Eurostat's website (see item 10 - 'Dissemination format') respecting professional independence and in an objective, professional and transparent manner in which all users are treated equitably. The detailed arrangements are governed by the Eurostat protocol on impartial access to Eurostat data for users.


9. Frequency of dissemination Top

Monthly, quarterly and annually


10. Accessibility and clarity Top
10.1. Dissemination format - News release

Not applicable

10.2. Dissemination format - Publications

Not applicable

10.3. Dissemination format - online database

Please consult free data on-line or refer to contact details.

10.4. Dissemination format - microdata access

The bilateral euro/ECU exchange rates on which the conversion factors are based are available in the Eurostat public database.

10.5. Dissemination format - other

http://ec.europa.eu/eurostat

10.6. Documentation on methodology

Documentation on methodology of euro reference exchange rates is available from the ECB.

10.7. Quality management - documentation

Not available.


11. Quality management Top
11.1. Quality assurance

Not available.

11.2. Quality management - assessment

Not available.


12. Relevance Top
12.1. Relevance - User Needs

Compilation of long time series covering periods before and after accession to the euro area.

12.2. Relevance - User Satisfaction

Not available.

12.3. Completeness

Data are complete from the beginning of each series of nominal bilateral exchange rates, on which the calculations are based.


13. Accuracy Top
13.1. Accuracy - overall

No estimation; only mathematical calculation.

13.2. Sampling error

Not applicable.

13.3. Non-sampling error

Not applicable.


14. Timeliness and punctuality Top
14.1. Timeliness

Within one week after the accession of the relevant currency to the euro area.

14.2. Punctuality

Not available.


15. Coherence and comparability Top
15.1. Comparability - geographical

The conversion factors are fully comparable.

15.2. Comparability - over time

The conversion factors are fully comparable

15.3. Coherence - cross domain

The statistics are fully reconcilable by reproducing them using the formula on which they are based.

15.4. Coherence - internal

Fully coherent internally.


16. Cost and Burden Top

None: The indicator is based on calculation and not based on any additional reporting. 


17. Data revision Top
17.1. Data revision - policy

Data are final and will not be revised.

17.2. Data revision - practice

Not available.


18. Statistical processing Top
18.1. Source data

Nominal bilateral exchange rates

18.2. Frequency of data collection

Annual, quarterly, monthly.

18.3. Data collection

Not applicable.

18.4. Data validation

Not applicable

18.5. Data compilation

Not applicable

18.6. Adjustment

Not applicable


19. Comment Top

None


Related metadata Top


Annexes Top