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Friday, 26.04.2024, 23:15
First Latvian euro coins to be minted this week
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A special ceremony will take place at the State Mints of Baden-Wuerttemberg in Germany on July 31, where the coins will be minted.
On one side of the coins will be the standard euro coin design, while the other side will feature Latvian symbols.
The symbols used in the lat coins, that is, the Freedom Monument and the coat of arms of Latvia, will also be depicted on euro coins.
During the euro introduction process, Latvia will have to exchange 59 million bank notes worth LVL 1.16 billion, and 488 million coins worth LVL 73 million, according to information from the Bank of Latvia.
As reported, during the Economic and Financial Affairs Council (ECOFIN) meeting in Brussels earlier this month, European Union finance ministers made the final decision to allow Latvia to join the eurozone.
The Council also adopted regulations setting a permanent conversion rate for the Latvian lats against the euro and adapting certain technical provisions on the euro.
The conversion rate was set at 0.702804 Latvian lats to one euro.
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