Latvian lats
From Wikipedia, the free encyclopedia
| Latvian lats Latvijas lats (Latvian) |
|||
|
|||
| ISO 4217 Code | LVL | ||
|---|---|---|---|
| User(s) | Latvia | ||
| Inflation | 6.3% | ||
| Source | The World Factbook, 2006 est. | ||
| ERM | |||
| Since | 2 May 2005 | ||
| Fixed rate since | 1 January 2005 | ||
| Replaced by €, cash | 1 January 2008 tentative | ||
| € = | Ls 0.702804 | ||
| Band | pegged in practice, 15% de jure | ||
| Subunit | |||
| 1/100 | santīms | ||
| Symbol | Ls (before numerals) | ||
| santīms | s (after numerals) | ||
| Coins | 1, 2, 5, 10, 20, 50 santīmu, 1, 2 lati | ||
| Banknotes | 5, 10, 20, 50, 100, 500 latu | ||
| Central bank | Bank of Latvia | ||
| Website | www.bank.lv | ||
- For common abbreviations, see LAT (disambiguation)
The lats (plural: lati or latu, ISO 4217 currency code: LVL or 428) is the currency of Latvia. It is abbreviated as Ls. The lats is sub-divided into 100 santīmu (singular: santīms , plural also santīmi; from French centime).
Contents |
[edit] First lats, 1922-1940
The lats was first introduced in 1922, replacing the Latvian rublis at a rate of 1 lats = 50 rubļi. In 1940, Latvia was incorporated into the USSR and the lats was replaced by the Soviet ruble at par.
[edit] Coins
Coins were issued in denominations of 1, 2, 5, 10, 20 and 50 santīmu, 1, 2 and 5 lati. Denominations of 1 lats and above were in silver.
[edit] Banknotes
The Latvian Bank issued notes from 1922 in denominations of 20, 25, 50, 100 and 500 latu. They also issued 10 latu notes which were 500 rubli notes overprinted with the new denomination. The government issued currency notes from 1925 in denominations of 10 and 20 latu.
[edit] Second lats, 1993-
The lats was reintroducted in 1993 after Latvia regained its independence, replacing the Latvian rublis at a rate of 1 lat = 200 rubļu.
The euro (eiro in Latvian) is expected to replace the lats in 2011. The currency entered the Exchange Rate Mechanism II on May 2, 2005, and must be maintained in a 15% band around the pivot value of 0.702804 LVL per Euro. In practice, the lats has been fixed at that rate since 1 January 2005. Before that, it was pegged to the SDR currency basket.
[edit] Coins
Coins are issued in denominations of 1 santīms, 2 santīmi, 5 santīmi, 10 santīmu, 20 santīmu, and 50 santīmu, as well as 1 lats and 2 lati. Also, there are commemorative coins in denominations of 2, 10, 20, 100 latu made from gold and silver.
[edit] Banknotes
- 5 lati: oak-tree
- 10 latu: River Daugava and oak-leaf
- 20 latu: Traditional house
- 50 latu: sailing-ship and oak-leaf
- 100 latu: Krišjānis Barons and oak-leaf
- 500 latu: Latvian folk-maid and oak-leaf
| Use Yahoo! Finance: | AUD CAD CHF EUR GBP HKD JPY USD |
| Use XE.com: | AUD CAD CHF EUR GBP HKD JPY USD |
| Use OANDA.com: | AUD CAD CHF EUR GBP HKD JPY USD |
other updated currency rates: [1]
[edit] See also
[edit] External links
|
|
|
|---|---|
| Eurozone | Euro |
| Northern | Danish krone · Faroese króna · Icelandic króna · Norwegian krone · Swedish krona |
| Baltic | Estonian kroon · Latvian lats · Lithuanian litas |
| Western | British pound · Guernsey pound · Jersey pound · Manx pound |
| Central | Czech koruna · Hungarian forint · Polish złoty · Slovak koruna · Swiss franc |
| Eastern | Belarusian ruble · Kazakhstani tenge · Russian ruble (Russia and Abkhazia and South Ossetia (unrecognized)) · Transnistrian ruble (unrecognized) · Ukrainian hryvnia |
| Southeastern | Albanian lek · Bosnia and Herzegovina convertible mark · Bulgarian lev · Croatian kuna · Macedonian denar · Moldovan leu · Romanian leu · Serbian dinar |
| Mediterranean | Cypriot pound · Gibraltar pound · Maltese lira · Turkish new lira (Turkey and Northern Cyprus (unrecognized)) |
| Transcaucasia | Armenian dram (Armenia and Nagorno-Karabakh (unrecognized)) · Azerbaijani manat · Georgian lari |
