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Contents
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1. The Rules
2. Currency Calculator And EURO
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1. The Rules
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From 01/01/1999, 11 currencies will be entering in the EURO as NON DECIMAL
subdivisions; they are called the IN currencies. At the same time, the XEU
is replaced by the EURO (ISO code EUR) with a rate of 1:1.

All the other currencies (USD, GBP...) are called OUT currencies. Some of
them (GBP) will enter the EURO later (?).

Their conversion rates between them and the EURO will  be irrevocably fixed
at the latest December 31, 1998. After this date, the only currency which
will fluctuate is the EURO.

Here is a synthesis of the official rules for conversion and rounding, set
out in Council Rule N1103/97, adopted in June 17, 1997 in Amsterdam:

1. Conversion rates shall be adopted as one EURO expressed in terms of each
   of the IN currencies. They shall be adopted with six significant figures
   (please notice that for IEP, these 6 figures are decimals).
2. The conversion rates shall not be rounded or truncated when making
   conversions.
3. Conversion rates shall be used for conversions either way between the
   EURO unit and IN currency units or vice versa. Inverse rates derived from
   the conversion rates shall not be used.
4. Monetary amounts to be converted from one IN currency unit into another
   IN currency unit shall first be converted into a monetary amount expressed
   in the EURO unit, which amount may be rounded to not less than three
   decimals and shall then be converted into the other national currency unit.
   No alternative method of calculation may be used unless it produces the
   same result.
5. Monetary units to be paid or accounted for when a rounding takes place
   after a conversion into the EURO unit pursuant to article 4 shall be
   rounded up or down to the nearest cent. Monetary amounts to be paid or
   accounted for which are converts into an IN currency shall be rounded up
   or down to the nearest sub-unit or in the absence of sub-unit, to the
   nearest unit, or according to national law or practise to a multiple or
   fraction of the sub-unit or unit of the IN currency. If the application
   of the conversion rate gives a result which is exactly halfway, the sum
   shall be rounded up.

Because of those rules, do not panic if you want to convert 100 FRF to FRF
(IN currency to itself) and you get 100.03. That is correct!

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2. Currency Calculator And EURO
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If you want to use Currency Calculator with EURO and IN and/or OUT currencies,
you must do the following prior to any conversion:

1. EURO must be defined first. On the "Edit Record" screen, "This is EURO"
   checkbox must be checked. Only one currency can have that checkbox
   checked. Currency Calculator will not allow you to add another EURO.
2. For each of the IN currencies, the "This is EC currency" checkbox must be
   checked. Do not check that checkbox for other (OUT) currencies (like USD)!
3. It is good to set the number of decimal places to which the result of the
   conversion will be rounded. For example, set that number to 2 for DEM, so
   each conversion to DEM will be rounded to 2 decimal places, and 2 decimal
   places will be displayed. Set rounding to 0 decimals for ITL, because ITL
   doesn't have sub-unit.

Conversion rates for the IN currencies are fixed, and will be defined by the
EC, so you must enter them only once. The value to be entered is the value
of 1 EURO.

The conversion rate for the EURO must be entered as usual (the example is
for the case when "Reversed unit conversions" CurrCalc preferences checkbox
is NOT checked):
If
1 EUR = 0.6954587 GBP and
1 EUR = 1.1675 USD
then you must enter the value for:
EUR = 1
GBP = 0.695458
USD = 1.1675

If you want USD to have the value of 1, then enter:
USD = 1
EUR = 0.856531
GBP = 0.595682

Currency Calculator internally uses 1 for the EURO when it is working with
IN currencies, so in both cases above, conversion will be correct.

IMPORTANT: Conversion rates for currencies which are included in the
"CurrC_DB.PDB" file supplied with Currency Calculator are only as an example!
