Latviski English По-русски
Sunday 19.11.2017 | Name days: Liza, Līze, Elizabete, Betija

First day with euro: opinions of traders and customers

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe transition to euro has been progressing rather smoothly in Latvia. Thanks to timely executed preparations for euro adoption, which includes adaptation of cash register software and staff training, there have been no complications so far, as reported by traders.

‘Transactions with small change increased at all VIRŠI-A petrol stations on the first day of 2014. Residents want to get rid of lats and santim. This is why they prefer to make exact transactions with cash. In order to make sure petrol stations do not become a preferred currency exchange locations, we urge customers to avoid using lat banknotes with large nominal value. Residents understand this and often use credit cards for transactions. Customers also often drop change in special donation boxes located at VIRŠI-A petrol stations,’ – says VIRŠI-A Chairman Jānis Riekstiņš.

According to petrol station traders, Latvian residents are very positive about euro. Some say they are happy to receive euro banknotes. There was even a surprise in Krustpils: there, a foreigner who had been in Latvia at the end of last year but was not aware of Latvia’s introduction of euro was pleasantly surprised when he received change for his purchase in euro.

‘Even though yesterday was the first day of New Year, when there are few customers, there was no shortage of customers at ELVI. People go shopping to experience this new currency for themselves,’ – says SIA ELVI Latvia Commercial Director Laila Vārtukapteine.

‘The first day of euro and lat simultaneous circulation went by smoothly at ELVI stores. We should be grateful for this to our staff and, of course, our customers. The latter are positive, understanding and often use the advantages provided by ELVI. For example, our ELVI store situated in SIA VITA supermarket in Sigulda has a special fast checkout point where residents can pay for their purchases with either euro or credit card,’ – she said.

As it is known, Latvia entered Eurozone and successfully introduced euro January 1, 2014. Preparations for this day lasted nearly 10 years.

‘This New Year’s Eve and Latvia’s joining of Eurozone was one of the most carefully planned processes in Latvia’s history. Everything began 10 years ago – shortly after the vote and Latvia’s joining of the European Union. The main objective – making sure that currency exchange is performed smoothly during the first 14 hours – was successfully completed,’ – said State Secretary to Finance Ministry Sanita Bajāre.

According to information from 24/7 stores, hotels, restaurants, petrol stations and other trade locations and entrepreneurs, reprogramming of cash registers and card terminals was successful. Companies that were active on January 1 report payment card servicing and euro transactions were made available shortly after midnight.

Latvians were also active in their preparation for euro introduction, depositing their remaining cash funds on their bank accounts. At the end of 2013, there was a total of LVL 630.8 million of cash in circulation, which is half of what was available at the beginning of 2013.

Consumer Rights Protection Centre carried out inspections at 25 trade and service locations on January 1, 2014. This was done to make sure things were going smoothly – enough euro to hand out to buyers as change, accurate transactions, working software of cash registers, etc.

As previously reported, residents can still pay for their purchases with lats. This period will last until January 14, 2014. When residents pay for their purchases in lat, traders are obligated to calculate the change to give customers in euro. This makes the calculation process more complicated for traders and increases the probability of miscalculation. In order to make sure traders perform their duties accordingly, CRPC plans to carry out a series of surprise inspections this year.


Leave a reply

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.

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.

Russia in UN vetoes extension of Syrian chemical attack investigation

At the UN Security Council, Russia has used its veto powers to block a resolution with which it would be allowed to continue the international investigation into a chemical attack this spring in Syria, which prompted the U.S. to launch missile strikes on a Syrian airbase.

Latvia’s birthday expected to be windy

A precipitation zone will reach Latvia from the west on Friday, 17 November. The precipitation zone will, however, pass over Latvia quickly, making rainfall short and periods of clear sky more frequent and longer. Air temperature is expected to stay within +5° C… +8° C, as reported by State Environment, Geology and Meteorology Centre.

State of emergency in force in flood-hit Greece

Rescue services in Greece are looking for no less than five people, who have gone missing following unexpected and disastrous floods on Wednesday, November 15, that killed 15 people; however, bad weather is still expected.

Laupīšanas 101 director: Latvia’s film industry has yet to reach its potential height

There is sufficient evidence to prove that Latvia’s film industry is capable, but at the same time many films are directed basically the same way. There is a lack of creativity, which means very slow development for the industry, said Kaspars Marhlevičs, director of short comedy Laupīšanas 101, in an interview to BNN.

Medical cannabis bill paves way in Lithuanian legislature

Otherwise conservative Lithuania has made a big stride forward legalising cannabis for medical use with 92 Lithuanian parliamentarians voting Thursday, November 15, to open the bill draft on medication containing cannabis. The law draft should go back to the parliamentary floor for deliberations on December 12.

Latvian sentenced to ten years in prison for fighting on the side of ISIS in Syria

On Thursday, 16 November, Latvian citizen Mārtiņš Grīnbergs was sentenced by Riga Regional Court to ten years and three months in prison for fighting on the side of Islamic State terrorist organization.

European Parliament: Africa’s development requires a new stimulus

To resolve economic, social and migration-related problems, which usually accompany lasting crises, better African-EU cooperation is needed, European Parliament members say.

Latvian Chamber for Commerce and Industry proposes preventing new MPC reforms

Increase of mandatory procurement components cannot be allowed. Exactly the opposite – this cost should be dropped entirely for end electricity prices in an attempt to improve international competitiveness of companies, BNN was told by council members of Latvian Chamber for Commerce and Industry.

Matīss: LDz cannot raise tariffs and perform rail electrification under cargo anti-record

Because Latvijas dzelzceļš has set an anti-record in cargo transports in the first ten months of this year, Saeima deputy and member of the National Economy Committee Anrijs Matīss says raising the fee for the use of infrastructure cannot be allowed. He adds that the intended railway electrification project should be considered very carefully.

Lithuania and Latvia placed in top 10 in climate policy index

In the annual Climate Change Performance Index, where climate policy action in 57 countries has been evaluated, on a scale from «very high» to «very low», 11 EU member states have been evaluated with as having been highly active, with Sweden showing the best results ahead of Lithuania, the UK, Finland and Latvia.

Bite Latvija buys Stream Networks and Latnet

Mobile commutations operator Bite Latvija has signed a purchase agreement for 100% of shares of Stream Networks and its subsidiary Latner Serviss, as BNN was informed by Bite manager in Latvia Kaspars Buls.

airBaltic carried three million passengers in first ten months of 2017

In the first ten months of 2017, airBaltic carried a total of 3,007,034 passengers to destinations in Europe, Scandinavia, Russia, CIS and the Middle East, BNN was told by the company.

Kaljulaid sees African opportunities to outplace EU in digitalisation

During a visit to Ethiopia, Estonian President Kersti Kaljulaid has discussed African-EU relations with the African Commissioner for Trade and Industry and recommended investing into digital development that would be beneficial for the continent itself.

Most employed people in Latvia are satisfied with their jobs

More and more often employers experience lack of qualified labour force, as well as increase of employees’ confidence about their competitiveness on the labour market and their openness for better job offers.

Estonian railways operator happy about increasing freight volume

Freight carried on the infrastructure of the Estonian state railway company Estonian Railways in October amounted to one million tons, which is a 10.4% hike compared to October 2016.

Newest comments