Conversion rate
The conversion rate will serve as the basis value for the calculation of Slovak koruna to euro. The Council of the EU irrevocably set the conversion rate on July 8th, 2008. The conversion rate will be used from 1st January 2009 for the calculation of all koruna values to the euro unit. Until this time the rate will be used only for dual display. No other exchange rate can be used in real conversion on the 1st January 2009.
The conversion rate is set as a coefficient with six significant digits: EUR 1 = SKK 30.1260 SKK. The conversion rate must not be shortened when used to recalculate asset and liabilities and other koruna values, meaning that all amounts in koruna must be divided by the 6 significant digit coefficient of the conversion rate. The conversion rate must not be rounded. Only the final value will be rounded.
