Translation — Traduction
In order to regulate the flow of payments between the Netherlands monetary area and Denmark, the Netherlands Government of the one part and the Danish Government of the other part agree to the following provisions:
Article I
For the purpose of the present agreement, the Netherlands monetary area shall be deemed to mean the Netherlands and the Netherlands overseas territories.
Article II
(1) All exchange transactions resulting from the present agreement shall be based on a rate of exchange of 1.809 Danish crowns to one Netherlands florin.
(2) This rate is "the official rate"; it shall not be varied by either of the Parties without previous consultation between the monetary authorities of the two countries.
(3) The Danmarks Nationalbank and the Nederlandsche Bank shall fix by mutual agreement the maximum spread above and below the official rate which will be authorized on the markets which they control.
Article III
(1) For all current payments to be effected in Denmark by residents of the Netherlands monetary area, under the exchange regulations in force in the Netherlands and the Netherlands overseas territories, the Nederlandsche Bank (acting as agents of the Netherlands Government) may buy Danish crowns from the Danmarks Nationalbank (acting as agents of the Danish Government) against Netherlands florins.
(2) For all current payments to be effected in the Netherlands monetary area by residents of Denmark, under the exchange regulations in force in the latter country, the Danmarks Nationalbank (acting as agents of the Danish Government) may buy Netherlands florins from the Nederlandsche Bank (acting as agents of the Netherlands Government) against Danish crowns.
