Latvia: EUR adoption
Effective
1 January 2014
Latvia will become the 18th member of the Euro zone and convert its national currency from the Latvian Lats (LVL) to the Euro (EUR) at the official (Central Bank) conversion rate of EUR 1.00 = LVL 0.70284.
This is further to our Marketflash LM13021, dated 6 June 2013, and previous related Marketflashes.
Starting from 1 January 2014, there will be a two-week dual circulation period of the LVL and the EUR. From 1 January 2014, all non-cash money will be transferred in EUR automatically.
When applicable, securities currently denominated in LVL will be redenominated into EUR.
Further information
Further details (for example, redenomination rules) that impact Clearstream Banking1 customers will be provided in due course.
For further information, customers may contact Clearstream Banking Customer Service or their Relationship Officer.
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1. Clearstream Banking refers to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).
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