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Wednesday 01.04.2020 | Name days: Dagne, Dagnis
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Estonian consumers and traders try to adapt to euro

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

After Estonia entered the eurozone, the first purchases were mainly paid with kroons; however, in most cases the change was given in the euro currency. In this way, both vendors and customers are trying to adapt to the new system.

Large shops have enough euro coins for giving out change. The customers can also use payment cards, yet small shops have it more difficult because of insufficient euro reserves, reports ERR Udiseed.

The Estonians are convinced that two weeks, during which it will be possible to make payments with both currencies, are sufficiently long period to get used to the euro. However, there were cases when salespeople regarded the foreign euro coins without Estonian symbolism rather suspiciously.

Traders can also display prices in kroons in a larger typeset than the euro until the end of February. Afterwards prices in the euro currency will have to be more discernable.

Overall, the first days after the euro became Estonia’s official currency have passed without problems, although the process has not yet concluded, and it will be possible to see in the following days whether this system is effective.

Both cash dispensers and the possibility to make payments with cards at trade places is working successfully, reports E24.

However, it will possible to establish on Monday, January 3, whether the system really works without any problems, when both domestic and international payments will be carried out, shares will be traded, and the exchange rates will be set by the European Central Bank, not by the Bank of Estonia.

The business news portal BNN already reported this year on January 1 Estonia will join the eurozone and its official currency will be the euro.


Leave a reply to T_d

  1. Ruth.lt says:

    We’ll see after some weeks…

  2. T_d says:

    The transition period is always tough…

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