This item was published during the term of a previous administration that ended in April 2007
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Single Farm Payment Scheme exchange rate
02/10/2006
The Scottish Executive's Environment and Rural Affairs Department has confirmed that the exchange rate to be used for the 2006 Single Farm Payment Scheme is £0.67770 per euro.
The exchange rate used is that set by the European Central Bank on Friday, September 29, 2006
The rate used in 2005 was £0.68195 per euro: this represents a change of minus 0.62 per cent.
All payments for direct aid schemes are set in euros. The conditions on how to convert these amounts into the national currencies of Member States that do not use the euro are set in EC Regulations.
The Regulations fix in advance the date on which the exchange rate will be calculated. For the 2006 scheme year, the rate for all CAP reform schemes (Single Farm Payment, Scottish Beef Calf, Energy Crops Schemes and Protein Crop Payment) is calculated on the last working day of September.