Alg_wines

In an effort to cater to the flood of European tourists coming to NY, area businesses are starting to accept payment in Euros.  According to the Daily News:

In fact, one city store, East Village Wines, recently started taking
euros as well as greenbacks to draw in travelers, as well as locals who
fly often between continents. “We get quite a bit” of the currency,
said the store’s manager, Imran Ahmed. “Tourists bump into us and get a
kick out of it.”

The article notes, however, that there are some hurdles to overcome in order for this to become a full-fledged trend:

Conversion costs would eat into profits, he said. Stores also would
have to amend their bookkeeping systems to reflect sales (and sales
taxes) in another currency.

The full article is here.

Posted by Rob Fields