Primus ERP completed successful SAP euro changeover in Latvia
- 05
- Feb
Latvian 2 euro coin
Primus ERP has helped their customer to successfully complete SAP euro changeover in Latvia. The changeover was smooth with no delays in daily tasks and with no performance issues.
Data validation in SAP was done by client and external auditors. The SAP production environment is stable and transactions are processed now in euro currency in Latvia.
The European Commission also has released new on euro changeover in Latvia:
European Commission, 17.01.2014
Latvia’s changeover from the lats to the euro has been smooth and successful. Since yesterday, it has no longer been possible to make payments in Latvian lats, the two-week dual circulation period having ended on 14 January. No major problems were encountered and banks, post offices and retailers coped well with the extra workload caused by the changeover process and the parallel handling of two currencies.
The amount of euro cash in circulation exceeded the amount of circulating lats cash (value in euro) on 10 January 2014.
According to a Commission survey, on Wednesday 14 January 2014, more than nine out of ten citizens made cash payments in shops in euro only. All customers were getting their change in euro. Nearly three out of four citizens polled said they carry only euro cash in their wallets.
Lats banknotes and coins can be exchanged at the official conversion rate (1 EUR = 0.702804 LVL) and free of charge at post offices until 31 March 2014 and at commercial banks until 30 June 2014. Thereafter, lats can be exchanged for euros without a service fee at the Bank of Latvia for an unlimited period of time.
Dual display of prices in euro and lats will continue until 30 June 2014.
For more information:
For more information on the Latvian changeover see:
http://ec.europa.eu/economy_finance/articles/euro/2013-12-06-latvia-getting-ready-euro_en.htm
Latvia’s national changeover website:
http://www.eiro.lv/en/what-are-euros-/security-features/latvia-s-national-euro-changeover-plan
For more information on the euro:
http://ec.europa.eu/economy_finance/euro/index_en.htm
Original article available at europa.eu.