July 10, 2020 / 4:08 PM / a month ago

Bulgaria and Croatia accepted into waiting room to join euro

FRANKFURT, July 10 (Reuters) - Bulgaria and Croatia have been accepted into Exchange Rate Mechanism II, a precursor to adopting the euro as their currency over the next three years, the European Central Bank said in a statement on Friday.

The move paves the way for the first enlargement of the euro zone since 2015, when Lithuania joined the currency bloc as its 19th member.

The central rate of the Bulgarian lev has been set 1.95583 against the euro while the Croatian kuna’s central rate was set at 7.53450, the ECB said. (Reporting by Balazs Koranyi; Editing by Toby Chopra)

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