I DON'T GET WHY THESE COUNTRIES ARE JUMPING ABOARD A SINKING SHIP????
RBC Whole World News
( Russian News Media )
ECONOMY
One lat = 1.42 Euro: Latvia will move to the new currency on January 1
bank.lvbank.lv
Related Articles:
The Eurogroup has given the green light for Latvia's accession to the euro area
The European Commission approved the accession of Latvia to the euro area
The President of Latvia officially approved the introduction of the euro on January 1, 2014.
Euro banknotes and coins become legal tender in Latvia since January 1, 2014. The decision to join the Baltic republics in the euro zone finally decided at today's meeting of the Council for Economic and Financial Affairs of the European Union (ECOFIN). The report highlights the ECOFIN that the decision leaves the residents of Latvia for almost six months out to prepare for the change.
"The introduction of the euro should not be understood simply as a replacement bill, it is a guarantee of a higher level of well-being of every citizen of Latvia," - emphasizes the Finance Minister Andris Vilks.
At the same time was finally approved by the rate at which the euro will share who walk now in Latvia armor and centimes. The ratio of the euro and lats is set to 0.702804 to 1, the report says the Bank of Latvia. Thus, each lat estimated at EUR 1.42.
Set course to be used at the price tag of the Latvian stores and other retail outlets that are already on October 1, 2013.the price will indicate in the two currencies. According to the Latvian financiers, this approach will make the transition to the new currency less painful and help prevent price hikes.In addition, it is planned to carry out a particular action, in which traders who will not distort the prices of goods and services in its favor, but it certainly will calculate and indicate the price in euros, will receive a sticker "Honest vnedritel euro."
In accordance with the approved plan of the Government of Latvia before the introduction of the euro on 1 January 2014. All accumulation in armor held in bank accounts and accounts of other organizations that provide payment services as well as outstanding loans in lats will be automatically converted into euros free of charge. From now on all non-cash payments in Latvia will only be made in euros. But previously concluded agreements, in which the amount of the obligations spelled out in armor, will not have to renegotiate. These are in the amount of armor should be read as a sum in euros, taking into account the established exchange rate.
Photo: bank.lv
Simultaneously, the turnover of cash will be issued euro coins and banknotes. Until January 14, 2014.pay cash will be in lats and euro. At the same delivery paid for goods and services will only be issued in euros and lats banknotes and coins will be sent to the banks and withdrawn from circulation. The only exception to this rule would be public transport - here you can change from lats will issue the same armor.
During the first two weeks of January 2014. plan to convert to receiving euro coins payment machines - coffee, ticket, etc. At the same time all the ATMs in the country will switch from the issuance of lats to the euro output mode.
Photo: bank.lv
Starting from January 15, 2014., For payment will only be accepted euros remaining in the hands of the armor have to exchange. Again, at the rate of EUR 1.42 per 1 armor.
Prior to February 1, 2014. Cash armor can be exchanged for euros over three hundred local post offices, and before July 1, 2014. - At any commercial bank. In this case, banks are not allowed to charge customers any fee. Effective July 1, 2014., To exchange money coming out of the treatment of the euro will be possible only with the Bank of Latvia.
Recall that although the euro banknotes look the same in any country in the euro zone, issued euro coins in different countries differ from each other pictures on their back. Their own kind and get new coins minted for Latvia. The reverse of the coins of 1 and 2 shows the profile of the euro will be the Latvian girls were minted silver coins on the reverse of a 5 lats sample 1929. On the "national party" Latvian coins of 50, 20 and 10 cents will be represented by large (together with its supporting lion and a griffin), coat of arms of Latvia, and on the coins of 5, 2 and 1 euro cent - a small version of the emblem.
Photo: bank.lv
Recall that the Latvian Lats was used as the currency of Latvia during the period from 1922 to 1940gg.and since 1993. Act on the Introduction of the euro has been adopted by the Saeima of Latvia on January 31 2013.
Latvia will become the 18th member of the eurozone. Recall that in 2002. euro banknotes and coins were put into circulation in Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Portugal, Austria and Finland. In 2007. Slovenia joined the euro area in 2008. - Cyprus and Malta in 2009. - Slovakia. Since 2011. The 17th member of the monetary union was Estonia.
Photo: bank.lv
Tags: Latvia , EU , euro zone , euro , exchange rates | sign up for news on the topic
July 9, 2013
l
RBC Whole World News
( Russian News Media )
ECONOMY
One lat = 1.42 Euro: Latvia will move to the new currency on January 1
bank.lvbank.lv
Related Articles:
The Eurogroup has given the green light for Latvia's accession to the euro area
The European Commission approved the accession of Latvia to the euro area
The President of Latvia officially approved the introduction of the euro on January 1, 2014.
Euro banknotes and coins become legal tender in Latvia since January 1, 2014. The decision to join the Baltic republics in the euro zone finally decided at today's meeting of the Council for Economic and Financial Affairs of the European Union (ECOFIN). The report highlights the ECOFIN that the decision leaves the residents of Latvia for almost six months out to prepare for the change.
"The introduction of the euro should not be understood simply as a replacement bill, it is a guarantee of a higher level of well-being of every citizen of Latvia," - emphasizes the Finance Minister Andris Vilks.
At the same time was finally approved by the rate at which the euro will share who walk now in Latvia armor and centimes. The ratio of the euro and lats is set to 0.702804 to 1, the report says the Bank of Latvia. Thus, each lat estimated at EUR 1.42.
Set course to be used at the price tag of the Latvian stores and other retail outlets that are already on October 1, 2013.the price will indicate in the two currencies. According to the Latvian financiers, this approach will make the transition to the new currency less painful and help prevent price hikes.In addition, it is planned to carry out a particular action, in which traders who will not distort the prices of goods and services in its favor, but it certainly will calculate and indicate the price in euros, will receive a sticker "Honest vnedritel euro."
In accordance with the approved plan of the Government of Latvia before the introduction of the euro on 1 January 2014. All accumulation in armor held in bank accounts and accounts of other organizations that provide payment services as well as outstanding loans in lats will be automatically converted into euros free of charge. From now on all non-cash payments in Latvia will only be made in euros. But previously concluded agreements, in which the amount of the obligations spelled out in armor, will not have to renegotiate. These are in the amount of armor should be read as a sum in euros, taking into account the established exchange rate.
Photo: bank.lv
Simultaneously, the turnover of cash will be issued euro coins and banknotes. Until January 14, 2014.pay cash will be in lats and euro. At the same delivery paid for goods and services will only be issued in euros and lats banknotes and coins will be sent to the banks and withdrawn from circulation. The only exception to this rule would be public transport - here you can change from lats will issue the same armor.
During the first two weeks of January 2014. plan to convert to receiving euro coins payment machines - coffee, ticket, etc. At the same time all the ATMs in the country will switch from the issuance of lats to the euro output mode.
Photo: bank.lv
Starting from January 15, 2014., For payment will only be accepted euros remaining in the hands of the armor have to exchange. Again, at the rate of EUR 1.42 per 1 armor.
Prior to February 1, 2014. Cash armor can be exchanged for euros over three hundred local post offices, and before July 1, 2014. - At any commercial bank. In this case, banks are not allowed to charge customers any fee. Effective July 1, 2014., To exchange money coming out of the treatment of the euro will be possible only with the Bank of Latvia.
Recall that although the euro banknotes look the same in any country in the euro zone, issued euro coins in different countries differ from each other pictures on their back. Their own kind and get new coins minted for Latvia. The reverse of the coins of 1 and 2 shows the profile of the euro will be the Latvian girls were minted silver coins on the reverse of a 5 lats sample 1929. On the "national party" Latvian coins of 50, 20 and 10 cents will be represented by large (together with its supporting lion and a griffin), coat of arms of Latvia, and on the coins of 5, 2 and 1 euro cent - a small version of the emblem.
Photo: bank.lv
Recall that the Latvian Lats was used as the currency of Latvia during the period from 1922 to 1940gg.and since 1993. Act on the Introduction of the euro has been adopted by the Saeima of Latvia on January 31 2013.
Latvia will become the 18th member of the eurozone. Recall that in 2002. euro banknotes and coins were put into circulation in Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Portugal, Austria and Finland. In 2007. Slovenia joined the euro area in 2008. - Cyprus and Malta in 2009. - Slovakia. Since 2011. The 17th member of the monetary union was Estonia.
Photo: bank.lv
Tags: Latvia , EU , euro zone , euro , exchange rates | sign up for news on the topic
July 9, 2013
l