With the adoption of the euro as from 1 January 2008, the Central Bank of Malta has ceased to quote and publish the daily official opening middle exchange rates as the determination of the exchange rate of the euro against third currencies is the responsibility of the European Central Bank (ECB). The ECB publishes euro reference exchange rates against a number of currencies and these are usually updated at around 4 p.m. on every working day, except on TARGET closing days. They are based on a regular daily concertation procedure between central banks across Europe, which normally takes place at 2:15 p.m.
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