Information on currency : Latvian lats

Page last updated on December 9, 2023

Currency code (ISO 4217):

LVL

Numeric code:

428

Currency symbol:

Subunit (quantity):

Santīmu (100)

Country or territory:

Latvia (LV)

Status:

No longer in use

Replaced by

Euro (EUR)

Exchange rate mechanism:

Monetary authority:

(created: )

The Latvian Lats was the official currency of Latvia before the country adopted the Euro. It was in use from 1922 to 2014.

The Latvian Lats was introduced after the creation of Latvia as an independent state in 1918. It was replaced by the Euro on January 1, 2014, when Latvia, along with several other European countries, adopted the common currency.

Subunits

The Latvian Lats was divided into 100 santīmu.

Coins and Banknotes

The Latvian Lats had various denominations of coins and banknotes. Coins were issued in santīmu and Lats, while banknotes were issued in various denominations.

Euro Adoption

Latvia adopted the Euro on January 1, 2014. From this date, the Latvian Lats ceased to be legal tender, and all transactions switched to the Euro.

Since the adoption of the Euro, the Latvian Lats is no longer in circulation, and any remaining banknotes and coins are considered collector's items. The Euro is now the official currency used in Latvia.

Exchange Rate

The exchange rate at which the Latvian Lats was replaced by the Euro was fixed at 1 Euro = 0.702804 Latvian Lats.