bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 22.11.2017 | Name days: Aldis, Alfons, Aldris
LatviaLatvia

80% of Lat currency will be taken out of circulation in the first three months of 2014

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAfter the adoption of euro in 2014, the Bank of Latvia plans to “collect” more than 80% of Lat currency (coins and banknotes) in the first three months, Bank of Latvia Money Circulation Office manager Jānis Blūms reports.

“Experience of other countries shows that residents and companies tend to dispose of “old” currency as fast as possible after euro adoption,” – he says.

The current volume of Lat currency in circulation is 20% lower than it was at the beginning of 2013. It is estimated to be near 1 billion.

It is planned to collect 59 million banknotes and approximately 1,200 tons of coins in preparation for euro adoption.

The Bank of Latvia will take an interest-free loan from Deutsche Bundesbank in the form of 110 million euro banknotes of different nominal value, because the Bank of Latvia will not print euro banknotes for Latvia. The Bank of Latvia will be included in the schedule of the European Central Bank in regard to the printing of new banknotes and the loan will be paid in due time.

Residents will be able to exchange their remaining lat banknotes and coins for euro free of charge at banks for the first six months of 2014 and three months at Latvian Post offices. Bank of Latvia will be offering lat-euro exchange services free of charge indefinitely.

Ref: 102.109.109.9244


Leave a reply

  1. forex trading online says:

    capital one forex current promotions. 400% Bonus. 400% Bonus in all deposits a bonus will be giving to the client’s all deposits; this bonus cannot be lost but can be used as leverage to trade with, the client positions will be closed if the client loses his initial deposit.

    Thumb up 0 Thumb down 0

Study: taxes for business in Latvia – the most attractive among Baltic States

Latvia’s tax system is the most attractive among Baltic States and 13th most attractive among 190 countries of the world, according to the latest study performed by the World Bank and PricewaterhouseCoopers on tax systems around the world.

Turkish journalist punished with prison term for tweet

A court in Turkey has sentenced on Tuesday, November 21, a journalist from opposition newspaper Cumhuriyet to three years behind bars over accusations of spreading terrorist propaganda in relation to a post on Twitter, which had been briefly on the microblogging site this spring.

Latvia – 35th country in the world ICT development-wise

This year Latvia reached 35th place in the world in terms of development of information and communication technologies, as mentioned in the latest report by UN International Telecommunication Union.

Instant payment infrastructure comes online in Europe

On Tuesday, 21 November, instant payment infrastructure will be introduced across Europe. On top of that, European banks’ founded EBA Clearing will also introduce its RT1 instant payment system. The European-level solution has also been coordinated with the instant payment processing infrastructure prepared by the Bank of Latvia in August 2017, as reported by the bank.

Police dismantle criminal group that caused damage worth seven million euros to the state

Latvian State Revenue Service’s Finance Police dismantled a criminal group in November 2017. A total of 34 searches were performed and two people were found suspect. The criminal group performed tax avoidance and money laundering operations, causing damages worth nearly seven million euros to the state, BNN was informed by SRS.

Zariņš: deputies who vote for the state budget without amendments will have breached their vows

It is unacceptable for the Saeima coalition to follow the Cabinet of Ministers and like the Cabinet of Ministers breach laws during the budget approval process, says Saeima member Ivars Zariņš, adding that deputies who vote for the budget without amendments will thereby have to breach the vow they had previously made to the Latvian nation.

Estonia’s ruling Centre Party shows door to 31 competing members

The leadership of Estonia's Center Party has accepted the proposals of the party's local branches on fellow members, who ran in the Estonian municipal elections this autumn from a separate list, and expelled 31 members from the political party.

Pabriks: state interests should be held higher than party interests

Latvia cannot be allowed to drown in provincialism. It is in the country’s interest to maintain a course towards European and NATO values. In a situation when the number of centric and European-oriented parties is large, it is becoming harder and harder, because it leads to political fragmentation, and the main goal of it is reaching the 5% barrier during elections, not ensuring growth and development for Latvia, says MEP Artis Pabriks.

Reacting to e-commerce growth, Omniva rushes to expand its parcel locker network

Estonian state-owned postal company Eesti Post, which operates the Omniva brand, stated that it will broaden its network of parcel lockers expand its current parcel machines up until Christmas.

Programme: introduction of ‘honest’ taxi counters is stuck

Taxi drivers that had to replace their counters as far back as 15 October, continue delaying the process, as reported by De Factor with reference to State Revenue Service.

Ministry considers reorganizing Latvian Environmental Protection Fund’s administration

After reviewing information from the State Audit, Latvian Environmental Protection and Regional Development Ministry may consider the possibility of reforming the administration of the Latvian Environmental Protection Fund.

Uber to buy 24 000 self-driving Volvo XC90s

U.S. ride-sharing technology firm Uber has agreed with Chinese-owned Swedish carmaker Volvo on the purchase of up to 24,000 self-driving cars.

Snow expected in Latvia this week

Weather in Latvia will be cloudy at the beginning of the week and, although the sun may appear every now and then precipitation, precipitation is expected in most of the country. It will begin with rain and gradually move up to wet snow and snow, as reported by State Environment, Geology and Meteorology Centre.

Lengthy German coalition talks collapse

The German political parties that entered the country’s federal parliament after elections in September, still cannot reach an agreement on making a coalition and a majority government, but German Chancellor Angela Merkel has evaluated that new elections would be better than a minority government.

airBaltic carried more than 4,780 in flights between Riga and Liepaja

In the first six months since airBaltic has started performing regular domestic flights between Riga and Liapaja more than 4,780 passengers have been carried on this route.

Week in Lithuania. Lithuanian parliament passes Magnitsky act

Members of the European Parliament have passed a resolution requesting for the application of the so-called «nuclear option» for Poland, Article 7 of the EU Treaty, because of the threat to the rule of law in the biggest Eastern European country.

BNN summary of the week: medicinal cannabis in Lithuania, cargo anti-record, and Lemberg’s dwindling influence in UGF

BNN offers a summary of this week’s topical news in a variety of categories: Fight; Growth; Truth; Future and Opinion.

NAF: Russia’s attitude remains unfriendly towards Latvia

So far Russia’s demonstrated attitude has remained unfriendly towards Latvia, said Commander of Latvian Armed Forces Leonīds Kalniņš in an interview to LNT.

Lembergs’ turn to testify before parliamentary committee has come

Aivars Lembergs, who is accused of serious crimes and is suspended from performing duties as chairman of Ventspils City Council, has been invited to come to a meeting of the Saeima’s Investigative Committee and answer questions associated with so-called oligarchs case.

How Latvian communities around the world plan to celebrate Latvia’s birthday?

«Celebration of independence of the Republic of Latvia is an important tradition that allows members of Latvia’s diaspora to maintain ties with their homeland – this year’s event will be even more expansive and inclusive than ever before. This is because events associated with the country’s hundredth birthday will be organized all around the world,» says manager of World Federation of Free Latvians office in Latvia Jānis Andersons.

European Parliament triggers punitive procedure against Poland

Members of the European Parliament have passed a resolution requesting for the application of the so-called «nuclear option» for Poland, Article 7 of the EU Treaty, because of the threat to the rule of law in the biggest Eastern European country.

Wage rules violations most often associated with envelope wages

To promote public awareness and improve commercial environment, honest competition and honest compliance with taxes, Latvia’s State Revenue Service intends to expand its database with new information about taxpayers, BNN was told by SRS.

Management of Unity’s Saeima faction to change in December

«Political consultations with all of Unity’s partner parties that are represented in the Saeima’s faction have concluded. An agreement has been reached to perform management change before the end of Saeima’s autumn session – around 21 December,» says Unity’s chairman Arvils Ašeradens.

EP prepared to commence talks with EU governments on reforming asylum system

The European Parliament is prepared to commence talks about reforming Dublin Regulation to ensure every member state is able to resettle a portion of asylum seekers.

Estonia to pour into Finnish-Estonian cultural fund 700 000 euros

Estonian cabinet of ministers has decided to attribute 700,000 euros to the Finno-Estonian Cultural Fund, an organisation working since 2015 aimed at fostering cooperation between the two states in culture, creative economy and training both for individuals and organizations.

Newest comments