From 21 December 1951 to 17 May 1953, foreign-exchange conversion rates of the Bank deutscher Länder (the predecessor of the Deutsche Bundesbank). From 18 May 1953 to 12 March 1979, exchange rates for the pound sterling (parity with the pound sterling). From 13 March 1979 to 30 December 1998, official quotation on the Frankfurt exchange (difference between buying or selling rate and middle rate DEM 0.0070). In accordance with a resolution by the management board of the Frankfurt exchange, with effect from January 1994 the exchange rate of the Irish pound was set at four decimal places. For technical reasons, the exchange rates up to December 1993 were extended from three to four decimal places. From 1 January 1999, irrevocable euro conversion rate: EUR 1 = IEP 0.787564.
