With little less than a month to go before the euro changeover, businesses now have the opportunity of purchasing euro retailer starter kits from banks worth EUR131 or Lm56.24.

During a press conference held in the BOV Attard branch yesterday, Parliamentary Secretary in the Ministry of Finance Tonio Fenech said the starter kits would enable shops to have small change in euro coins before 1 January. He added that the Central Bank has estimated that Malta requires 41.51 million euro notes worth EUR799 million and 140 million euro coins worth EUR39.29 million, which have been minted exclusively for Malta at the Monnaie de Paris.

BOV Chief Executive John Cassar Torregiani and BOV Attard bank manager Tanya Camilleri were also present at the press conference.

Starting yesterday, the banks will exchange Maltese liri for euros at the fixed rate of 0.4293 with no bank charges. However, specific transactions, such as Swift transfers, will still incur bank charges.

Mr Fenech encouraged the public to exchange Maltese currency coins for euro coins as soon as possible and not to leave it too late. Euro starter kits for consumers will be available from all banks from 10 December, he said.