Recital 1

(1)To ensure that the currency pairs referred to in the Annex to Commission Implementing Regulation (EU) 2015/2197 ² reflect the actual correlation between the relevant currencies, it is necessary to update the list of closely correlated currencies, based on recent data. Those data refer to 31 March 2023 as the end date for calculating the three and five year data series required to assess the currency pairs in accordance with Regulation (EU) No 575/2013.