The Netherlands Government and the Swedish Government have agreed as follows:
Article 1
The rate of exchange between the Swedish krona and the Netherlands guilder shall be Swedish kronor 158,0769–Netherlands guilders 100.
This rate (hereinafter referred to as "the official rate") shall not be varied by either of the Contracting Governments except after giving to the other as much notice as may be practicable.
In all territories where they have jurisdiction the Contracting Governments shall enforce the use of the official rate as the basis of all transactions involving a relationship between the two currencies.
Sveriges Riksbank and De Nederlandsche Bank, as agents of their respective Governments, shall fix by mutual agreement the maximum spread above or below the official rate which will be authorised on the markets which they control.
Article 2
Sveriges Riksbank (acting as agents of the Swedish Government) shall, up to a total amount of Sw. Kr. 31.620.000, sell to De Nederlandsche Bank (acting as agents of the Netherlands Government) against Netherlands guilders to be credited at the official rate to Sveriges Riksbank's No. 1 Account with De Nederlandsche Bank such Swedish Kronor as may be required for payments, which residents of the Netherlands monetary area, under the exchange regulations in force in that area, are permitted to make to residents of Sweden.
De Nederlandsche Bank (acting as agents of the Netherlands Government) shall, up to a total amount of Netherlands guilders 20.000.000, sell to the Sveriges Riksbank (acting as agents of the Swedish Government) against Swedish Kronor to be credited at the official rate to Dc Nederlandsche Bank's No. 1 Account with the Sverigs Riksbank such Netherlands guilders as may be required for payments, which residents of Sweden, under the exchange regulations in force in Sweden, are permitted to make to residents of the Netherlands monetary area.
