Central Bank Act, 1989.

Monetary unit and exchange rate.

24.—(1) The monetary unit of the State shall be the Irish pound which shall be issued in legal tender form.

(2) The Minister may, whenever he considers it necessary after consultation with the Bank, do either or both of the following, that is to say:

(a) vary the general exchange rate arrangements for the time being for the Irish pound in respect of any or all other monetary units,

(b) make specific exchange rate adjustments consistent with those arrangements.

(3) Whenever the Minister varies the general exchange rate arrangements or makes specific exchange rate adjustments under subsection (2), a notice to that effect shall be published in the Iris Oifigiúil.