This week saw the start of Latvia’s dual pricing display. As of the 1st October all prices in shops in Latvia must be displayed in both euros and lats. Store receipts will also show both pricing of euros and lats, the currency conversion at the official lat-euro exchange rate of 1 euro per 0.702804 lat. Consumer Rights Protection Centre and the Financial and Capital Market Commission will keep an eye on shop prices and bank fees to guarantee that the prices in euros are calculated correctly. This close security will continue until 1st January 2014 when Latvia fully integrates to the Euro zone.
The changes may be a little confusing to the eye for the everyday citizen but the changes will smooth the progress for foreign tourists unfamiliar with the lat and what prices to expect for local goods.
