User opinions in media reports, surveys and social networks show that some of the people's reservations about the single European currency stem from a psychological barrier and doubts about the accuracy of the currency conversion.
This was reported by "We, the Consumers".
„There is a price for tomatoes 3.49 leva/1.78 euros and if you calculate the exchange rate here it is one, and for some product for 1.99 leva/1.02 euros - another. So, it is hard to believe that there will be no differences.“
Checking the currency conversion in both examples shows that no errors in the calculations were made. In one example, we divide 3.49 leva. at the official euro exchange rate of 1.95583 and we get the number 1.7844086654, which after rounding gives the amount of 1.78 euros. In the other example, we divide 1.99 leva again by 1.95583 and we get the number 1.0174708436, which after rounding is 1.02 euros. We have a situation that confirms the hypothesis that for some people it would be more difficult to get used to how the converted amounts in euros would look.
Due to such signals as a result of the already voluntarily started double indication of prices by some merchants – in leva and in euros, the online platform “We, the consumers“ distributes a currency conversion table. This digital resource, which is easily converted into analog, shows the calculated values of levas in euros, of cents in eurocents and vice versa – of the euro in levs and of the euro cents in stotinki. The table can be of assistance to consumers during the period of dual price indication, which is due to start on 8 August, in case a decision is made in July on Bulgaria's accession to the eurozone. It can also be a good tool for exercising civil control over the correctness of currency conversion.
The current transitional period is a test. First, for traders - how prepared they are to apply the law when the regulations come into effect. Second, for consumers - to get used to both prices, to be a corrective to commercial practices and in case of discrepancies to react to the commercial facility, and if necessary - and to the control authorities. Thirdly, for the institutions that, by giving prescriptions in case of violations, contribute to their reduction when prices will be in euros upon our eventual admission to the eurozone.
When citizens realize the importance of their active and constructive role in this process, do not further complicate the work of the control authorities by creating fake labels, editing labels in commercial facilities and other similar actions, there will be an opportunity for inspectors to be present concentrated and focused on the places where violations are actually possible to be encountered in order to counter them.