The European Commission utilizes a monthly accounting rate for the euro to calculate reimbursements and expenses. This rate, established by the Accounting Officer, is crucial for covering costs related to travel, subsistence, and participation in Commission-requested events. This system facilitates financial transactions for external individuals contributing to the EU’s work.
This official rate, determined in accordance with Article 19 of the Financial Regulation, allows for consistent and transparent financial management. It ensures fair compensation for individuals involved in various activities, from attending meetings and interviews to contributing expertise. The use of a standardized rate simplifies budgetary processes and promotes accountability within the Commission.
The European Commission provides a currency converter tool enabling access to monthly conversion rates dating back to 1994. This resource offers valuable historical data for both internal financial management and general public use. Users can track currency fluctuations over time and understand the euro’s evolution within the broader financial landscape.
These rates, reflecting market conditions on the second to last day of the preceding month, are sourced from reputable institutions. The primary source is the European Central Bank, a leading authority on European monetary policy and exchange rates. In cases where the ECB rate is unavailable, the Commission utilizes data from EU delegations or other reliable sources close to the reporting date. This ensures the rates accurately reflect market conditions.
InforEuro, a comprehensive resource, expands upon this by providing historical currency conversion rates for countries both within and outside the European Union. This data, available in downloadable format since March 1994, allows for in-depth analysis of long-term currency trends. Users can access historical data for both current and obsolete currencies against the euro (or the ecu prior to December 1998).
The information provided by the European Commission regarding these exchange rates is purely for informational purposes related to EU budget implementation. The Commission does not guarantee the absolute accuracy of these rates and assumes no liability for their use. While publicly available, this information does not confer any specific rights upon users, and general inquiries regarding these rates will not be addressed. For official inquiries related to EU budgetary matters, specific channels are designated.
For further information regarding specific financial regulations or procedures, contacting the treasury department directly is recommended: tresorerie[at]ec[dot]europa[dot]eu. For broader information regarding the euro itself, consult the official EU website dedicated to the currency: https://europa.eu/european-union/about-eu/euro_en. This resource provides comprehensive information about the euro’s history, role, and impact on the European Union.
