Central rate ([angel] central rate; central parity)

In general, the exchange rate of a currency within an exchange rate system which is to be kept as stable as possible with respect to the intervention currency. – In particular, the exchange rate of a currency participating in ERM II vis-à-vis the EUR, around which the fluctuation bands are fixed. – See also exchange rate adjustment, exchange rate mechanism II. – Cf. the (worldwide) central rates in the Bundesbank’s quarterly booklet “Devisenkursstatistik”.

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