Latvian lats
- Disambiguation: lats redirects here. This may also refer to the latissimus dorsi muscles over the back which extend the shoulder.
| Latvian lats |
| Latvijas lats (Latvian) |
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| The standard version of 1 lats coin bears a salmon |
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| ISO 4217 code |
LVL |
| User(s) |
Latvia |
| Inflation |
1,3% |
| Source |
[1], Jan 2011 est. |
| ERM |
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| Since |
2 May 2009 |
| Fixed rate since |
1 January 2005 |
| Replaced by €, cash |
2014-2018[2] |
| € = |
Ls 0.702804 |
| Band |
15% |
| Subunit |
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| 1/100 |
santīms |
| Symbol |
Ls (before numerals) |
| santīms |
s (after numerals) |
| Plural |
lati (nom. pl.) or latu (gen. pl.) |
| santīms |
santīmi (nom. pl.) or santīmu (gen. pl.) |
| 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 |
The lats (plural: lati, ISO 4217 currency code: LVL or 428) is the currency of Latvia. It is abbreviated as Ls. The lats is sub-divided into 100 santīmi (singular: santīms , plural also santīmi; from French centime).
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.
Coins
Coins were issued in denominations of 1, 2, 5, 10, 20 & 50 santīmu, 1, 2 & 5 lati. The 1, 2 & 5 santīmu were in bronze, the 10, 20 & 50 santīmu were nickel, while coins of 1 lats & above were in silver.
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.
Second lats, 1993–
The lats was reintroduced in 1993, replacing the Latvian rublis, which was used for a short period after Latvia regained its independence, at a rate of 1 lats = 200 rubļu.
Coins
Coins are issued in denominations of 1 santīms, 2 & 5 santīmi, 10, 20 & 50 santīmu, as well as 1 lats and 2 lati. Also, there are commemorative coins in denominations of 2, 10, 20, 100 latu made of gold and silver.
Banknotes
| Current Series |
| Image |
Value |
Main Colour |
Description |
| Obverse |
Reverse |
Obverse |
Reverse |
|
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5 lati |
Green |
Oak tree |
Latvian art |
|
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10 latu |
Purple |
River Daugava |
Sakt |
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20 latu |
Brownish-Green |
Traditional house |
Woven linen |
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50 latu |
Blue |
Sailing-ship |
Keys (Historical seal of Riga) |
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100 Latu |
Red |
Krišjānis Barons |
Belt from Lielvārde |
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500 Latu |
Brown |
Latvian folk-maid |
Ornamental brass crowns |
Euro
Latvia has been a member of the European Union since 1 May 2004 and is a member of the Economic and Monetary Union of the European Union, but it has not completed the third stage of the EMU. The lats is in ERM II, and floats within 1% of the central rate, Ls 0.702804 = €1. Latvia had originally planned to adopt the euro as its official currency on 1 January 2008. It is now expected that Latvia will introduce the euro in 2014 at the earliest.[3]
Other updated currency rates:.[4] The lats is the fourth-highest-valued currency unit after the Kuwaiti dinar, Bahraini dinar, and the Omani rial. The 500-Latu note is the world's third most valuable banknote next to the $10,000 Singapore note and 1,000 Swiss franc note.
Currency Exchange in Latvia - Latvian currency exchange market comparison.
See also
References
External links
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| General |
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| Administration |
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| Fiscal provisions |
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| History |
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| Economy |
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| Denominations |
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Coins by
country |
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Adoption by
other countries |
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Yielded
currencies |
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Remaining
currencies |
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- European Union Portal
- Numismatics Portal
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