Council Regulation (EU) 2022/1208 amending Regulation (EC) No 2866/98 as regards the conversion rate to the euro for Croatia

Summary:

Regulation (EU) 2022/1208 - adopted by the Council of the European Union on 12 July 2022 - introducing amendments to Regulation (EC) No 2866/98 as regards the conversion rate to the Euro currency for Croatia.

Further information:

Regulation (EC) No 2866/98 sets the conversion rates between the Euro currency and the former national currencies of the Euro area countries. Council Decision (EU) 2022/1211 determined that Croatia fulfilled the necessary conditions for the adoption of the Euro, also abrogating the country's derogation as of 1 January 2023. The introduction of the Euro in Croatia requires the adoption of the conversation rate between the Euro and the Croatia kuna.

This Council Regulation establishes this conversion rate at 7,53450 kuna per 1 Euro, which corresponds to the existing central rate of the kuna in the Exchange Rate Mechanism (ERM II). The draft law was tabled by the European Commission on 29 June 2022 and adopted by the Council of the European Union on 12 July 2022. The Act was published in the Official Journal on 14 July 2022.