Period of Dual Price Display

To ensure that citizens can follow prices and get used to the new currency businesses should quote the prices in both lats and euro for a certain period of time before the actual introduction of the euro. This requirement to display all prices in the lats and euro will be mandatory for all trader and service providers for a quarter before and a year after the €-day all prices will be displayed in the lats and euro.

Prices in the euro will be set according to the official exchange rate of the euro against the lats and strictly mathematical principles. This dual price display requirement is planned to ensure consumer rights protection and to reduce an unsubstantiated price hike due to the rounding of prices.

Since Latvia is characterized by seasonal goods circulation the period of dual price display has been set comparatively long (more than a year). Display of prices in the lats and euro will help citizens to prepare for currency exchange and compare prices in the lats and euro.