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Ceturtdiena 19.07.2018 | Name days: Jautrīte, Kamila, Digna
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Coins to be exchanged for banknotes without restrictions in Latvia in October

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUStarting October 1, 2013m the Bank of Latvia will be offering to exchange santim coins for lat banknotes. It is currently possible to exchange 200 coins at a time free of charge at the central bank.

The issue of piggy banks is becoming rather troubling because Latvia is due to join Eurozone next year. The transition could be made smoother if banks encourage residents to dispose of their coin savings well in advance.

Euro transition will start January 1, 2014. Residents will be able to exchange lats for euro free of charge in accordance with the official exchange rate for six months in different banks operating in Latvia, three months in Latvijas Pasts branches and for an indefinite period of time in all branches of the Bank of Latvia in Riga, Liepaja and Daugavpils.

As previously reported by BNN, the first Latvian euro coins were minted yesterday.

The central bank posted a photo that shows how the President of the Bank of Latvia turns on the money making machine.

The machinery was turned on in Staatliche Münzen Baden-Württemberg mint in Stuttgart.

The European side of the coin – which features its nominal value – is universal for all countries of Eurozone, but the national side can be different. There are eight kinds of euro coins of different nominal value in circulation in Eurozone – 1 and 2 euro and 1,2,5,10,20 and 50 cents.

Ref: 103.109.109.8420


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