Green Rates
From Reuters Financial Glossary
Green rates are accounting currencies used when assessing payments to farmers within the EU's Common Agricultural Policy (CAP). Under CAP, farmers are paid in agricultural units of account and green rates were devised to convert these units of account payments into national currencies. They can only be revised by governments, which makes them far more stable than market rates and the number of green rates was sharply reduced by the introduction of the euro in1999. Green rates only now exist for those countries that remain outside the single currency.
