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Latvia Becomes Eurozone's 18th Member

2014.01.02 11:42 rakstīt redaktoram 
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RIGA, Jan 1 (LETA) - Latvia adopted the euro last night, becoming the 18th eurozone member state. The euro replaced the lat according to the official exchange rate of EUR 1 per LVL 0.702804 or 70.3 santims. All money deposited in banks, as well as loans in lats issued to residents and companies, was automatically converted to euros according to the official exchange rate. Starting January, salaries, pensions and benefits will be paid in the euro currency. In the first two weeks of 2014, both currencies will be circulated; the change in almost all cash transactions will be given in euro with the exception of public transport, where passengers who pay for tickets in lats will be issued change in lats also, those who pay for tickets with euros will be issued change in euros. Residents are recommended to use bankcards or give precise cash during this period. The lat will cease to be legal tender on January 15.

Lats will be exchanged for euros free of charge and according to the official rate for six months in commercial banks, and for three months in 302 regional post offices of "Latvijas Pasts" postal company in those areas where banking services are not available to local residents. At the Bank of Latvia, lats will be exchanged for euros in perpetuity. More info: http://www.leta.lv/eng/home/important/069FDFE5-A7BB-473C-AD41-832017C25C51/

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Danish Chamber of Commerce in Latvia, Pils iela 11, Rīga, LV 1863, Latvia;
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