Read more about the euro foreign exchange reference rate on ECB's website.īased on the determined reference rate between euro and Danish kroner, Danmarks Nationalbank calculates a price in Danish kroner for the remaining 30 currencies.ĮCB publishes the reference rates determined at the concertation at 16:00 and shortly after Danmarks Nationalbank publishes the prices in Danish kroner. ![]() ECB then determines the most accurate reference rate and during the concertation these rates with any adjustments are finally agreed among ECB and the participating central banks. The reference rates are based on actual exchange rates in the interbank market and are set at the mid-price of the sell and buy side at the time of the concertation.Īt the time when the concertation begins and the reference rates are to be determined, ECB will obtain the price for euro in a number of currencies, including Danish kroner, from the interbank market via correspondent banks and electronic trading platforms. ![]() The European Central Bank (ECB) conducts a daily concertation procedure at 14:15, at which time 31 exchange rates are agreed among a number of central banks. ![]() The exchange rates published on Danmarks Nationalbank's website are the prices in Danish kroner for 100 units of the foreign currency.
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