Euro foreign exchange reference rates are based on a regular daily concentration procedure between the central banks of the European System of Central Banks and other central banks, which takes place each working day at 15:15 (local time); the rates reflect the foreign exchange market situation at the given moment. Euro foreign exchange reference rates are published on the ECB website at around 17:00 (local time) and republished on the Bank of Lithuania website.
Euro foreign exchange reference rates are published according to the same calendar as used by the Trans-European Automated Real-time Gross settlement Express Transfer System (TARGET2), i.e. every day, except Saturdays and Sundays, New Year’s Day (1 January), Good Friday, Easter Monday, Labour Day (1 May), and Christmas (25 and 26 December).
Owing to current trading activity in the EUR/RUB market, the European Central Bank (ECB) is not in a position to set a reference rate that is representative of prevailing market conditions. The ECB has therefore decided to suspend its publication of a euro reference rate for the Russian rouble until further notice. The ECB last published a EUR/RUB reference rate on 1 March 2022.
