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reference exchange rate (central bank)

Reference exchange rates are a set of daily foreign exchange rates published by leading central banks. Reference exchange rates are used by companies and other participants in FX markets. They are based on a regular daily concertation procedure between the central bank and leading commercial banks.

Reference exchange rates are published for information, not trading, purposes. They are often used as a valuation tool, or in annual financial statements and tax reports of corporations, as well as in statistical publications and economic analyses.