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The Government of, on the one hand;

The Governments of His and, on the other

Being desirous of stabilizing the monetary relations and facilitating the mechanism of payments between the Netherlands and the Belgo-Luxembourg Economic Union, including the overseas territories under the sovereignty or mandate of the afore-mentioned States, have agreed upon the following provisions:

As from the date of the signing of the present Convention, the rate of exchange of the Netherlands florin against the Belgian franc shall be fixed at: 1 Neth. Fl. to B. Fr. 16,52 (belgas 3,304), or 100 B. Fr. (belgas 20) to Neth. Fl. 6,053.

This rate shall be called the "official rate".

No change may be made in the official rate without previous agreement between the Netherlands and Belgian Governments.

The Netherlands and Belgian monetary authorities shall deal with each other on the basis of the official rate.

They shall fix by mutual agreement the buying and selling rates which shall prevail in the markets under their jurisdiction. These rates shall be the same in the Netherlands and in the Belgo-Luxembourg Economic Union; they shall not differ from the official rate by more than ¼% either way.

Except by agreement, they shall only exchange Netherlands florins or Belgian francs against foreign currencies at the rates at which these currencies are dealt in on the official market, in the Netherlands in the case of Netherlands florins, or in Belgium in the case of Belgian francs.

For any payment which the Netherlands, the Netherlands Indies or any part of the Kingdom of the Netherlands may have to make in the territory of