Kroons into euros

Updated: 08.07.2010

The meeting of the Council of the Economics and Finance Ministers of the European Union (ECOFIN) in July 13 2010 will approve the exchange rate for exchanging kroons into euros after the approval of adoption of the euro in Estonia. Presumably, Estonian kroons will be converted into euros at the official exchange rate of Eesti Pank, 15.6466. An inverse ratio, derived from the conversion rate, shall not be applied and the conversion rate shall not be rounded or curbed.

 

Conversion requirements and rounding rules

Price formation and display of prices to clients

Adoption of euro cash

Bank accounts and loans are automatically converted into euros

Documents proving advance payments

How can the changeover to the euro influence IT systems?