What goes up - must come down !
When I first arrived in Riga in January 1996, I alongwith many others faced a few challlengies, not least of all in opening a bank account. However after a few tries I did finally get a bank account with the the then Hansabanka, now Swedbank. In those days the Lat was tied to a basket of Scandinavian currencies, which resulted in the £ being more or less equivalent to Ls1.00.
But now role forward 17 years and what do we find - well first of all the Lat is now tied to the Euro, and as of today the glorious £ is now worth just Ls0.7879 - a drop of almost 24% !!! - and as I write no sign of things getting better.
So for those of us with a Sterling income it is not good news - however for those Latvian businesses purchasing in the UK using Lats - well let the good times roll !!
But now role forward 17 years and what do we find - well first of all the Lat is now tied to the Euro, and as of today the glorious £ is now worth just Ls0.7879 - a drop of almost 24% !!! - and as I write no sign of things getting better.
So for those of us with a Sterling income it is not good news - however for those Latvian businesses purchasing in the UK using Lats - well let the good times roll !!
One of the nice things about writing this blog, is that occasionally a friend from the distant past gets in touch, and so it was this week when an accountant of ill-repute ( he did not cook the books - he burned them!) got in touch - so C.. or should I say W.. - many thanks for getting in touch. However one question I see that you accessed the blog from Reading in the UK - does that mean you are now based in the UK ? As I have no way of contacting you I trust all is well, and who knows perhaps one day you will come visit us me here in Riga.
Now speaking of old friends through the magic of Facebook I have been reunited with a former English Language teacher, who has long since departed Riga to Newcastle, where he supports his beloved Newcastle United, whilst teaching overseas students at Newcastle University. Now I know we all change but ??
Not sure what happened to that glorious head of hair from 1985 - but me thinks young B.... has put on a few pounds since arriving in Newcastle. Just a pity about their football team manager - and I did hear a rumour that my "wee" team Reading beat the "big" team Newcastle - could not possibly be true - could it ?? Finally a request please - please STOP putting out on Facebook that awful music selection - Lord only knows where you find them. But a question - Do you sleep with the hat on ?
This weekend sees the return of the Six nations rugby fest - so I will watch with bated breath to see if Scotland can continue their winning streak (Ok just the one win) against Ireland - I fear the worst but we shall but see. Of course before that we have the France v England Spectacle and Italy v Wales.
With todays temperature dipping towards -10C I think a winter warmer is called for before I step put.
A reminder to all of you thinking of visiting Riga this year, We have two major events - Visit of the Tall ships regatta in July ( I think) and then in August the Latvian Song and Dance festival. Both should not be missed, but if I had to choose - then let it be the Song and Dance Festival. Held every five years it is a week long celebration of Latvia's dance and musical heritage., and culminates in a 20,000+ choir singing. Simply unbelievable.