European Monetary System (EMS)

international monetary association which entered into force in March 1979. The EMS focuses on – the fixing of central rates and – the range of exchange rate fluctuations of the individual currencies. – Following the introduction of the EUR on January 1, 1999, the EMS (often called “EMS-2”) now governs the exchange rate arrangements between the EUR and the currencies of most of those countries that are members of the EU but not of the Eurosystem. – See investment shifts, exchange rate determined, currency queue, exchange rate mechanism II. – Cf. the current values in the annex “Euro area statistics,” heading “Exchange rates” in the respective ECB Monthly Bulletin.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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