With effect from 2 January 2002, the CNB fixes foreign exchange market rates as before on the basis of its monitoring of the movements of currencies on the interbank foreign exchange market. The published exchange rates of selected currencies correspond to the trading in individual currencies on the foreign exchange market at 2.15 p.m. local time. Under the Act on Accounting and other legal norms, the exchange rates are used for non-trading purposes (i.e. for valuing assets and liabilities, tax and customs proceedings, etc). The rates are set at 2.15 p.m. every day with effect on the same day and are published immediately afterwards in the same way as before. With effect from 2 January 2002, the CNB will cease setting calculated rates for those national currencies of the EMU countries which no longer exist.

• Announcement of the Czech National Bank on a change in the method of publishing exchange rates as of 2 January 2002