Moreover, the ECB, Danmarks Nationalbank and the Bank of Greece established by common accord and announced, on the same day, the compulsory intervention rates for the Danish krone and the Greek drachma. Fluctuations of the two currencies during the first two weeks of the year remained subdued. B.
Market developments in the first two weeks of January With a view to ensuring a smooth transition to the euro, the Governing Council took two important decisions already on 22 December 1998, in order to give guidance to the markets on the monetary conditions at the outset of Monetary Union.