The European Exchange Rate Mechanism 2 ( ERM 2 or ERM II ), formerly ERM , is a system created by the European Economic Community on 1 January 1999.

After the adoption of the euro, policy changed to linking currencies of EU countries outside the eurozone to the euro (having the common currency as a central point). The goal was to improve the stability of those currencies. As of 2020, three currencies participate in ERM II: the Danish krone , the Croatian kuna and the Bulgarian lev .

Exchange rate by countries [ change | change source ]

Sources: EC convergence reports 1996-2014 , Italian lira Archived 2011-08-12 at the Wayback Machine , Spanish peseta ^{[ permanent dead link ]} , Portuguese escudo , Finish markka Archived 2013-05-14 at the Wayback Machine , Greek drachma , UK pound

Other websites [ change | change source ]

• The ERM on the UK Parliament website

This short article can be made longer. You can help Wikipedia by adding to it .