Translation of "Marge de fluctuation par rapport au dollar " (French → English) :

Before ERM II entry, the Central Bank of Cyprus had been operating a system to contain fluctuations against the euro within a relatively narrow band of ± 2¼ percent from the central rate.

The Hungarian forint, which is unilaterally pegged to the euro with a ( 15 percent fluctuation margin since 2001, is not participating in ERM II. For most of the period since the introduction of the unilateral peg to the euro, the forint has fluctuated within the upper part of the band. However, from August 2005 onwards, the forint depreciated substantially vis-à-vis the euro, to a low point in June 2006, after which it gradually started to strengthen again. During the two years before this assessment, i.e. between November 2004 and October 2006, the forint depreciated agains ...[+++]t the euro by about 9 percent. Hungary does not fulfil the exchange rate criterion.

- the observance of the normal fluctuation margins provided for by the exchange-rate mechanism of the European Monetary System, for at least two years, without devaluing against the euro,

From 1 January 2003 the fluctuation band will be plus or minus EUR 100. From 3 March 2010, rates will no longer be permitted to deviate from the central rate.

* Exchange rate to have been maintained within a fluctuation band of ±2.25% around the currency's central parity against the euro in the context of the ERM II. However, the extent to which a breach of the ±2.25% fluctuation band would correspond to severe tensions would take account of a range of relevant considerations.

13. Remarks that the Annual Report correctly analyses the transmission mechanism of the US dollar fluctuations and its impact on the EU economy and points out that to protect the economy from monetary fluctuations of this kind, outside the Community itself, it is extremely important to introduce the single currency, which would also enable monetary policy to be more effectively applied;