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)
The standard version of 1 lats coin bears a salmon
ISO 4217 code	LVL
Central bank	Bank of Latvia
Website	www.bank.lv
User(s)	Latvia
Inflation	1,3%
Source	[1], Jan 2011 est.
ERM
Since	2 May 2009
Fixed rate since	1 January 2005
Replaced by €, cash	2014-2018[2]
€ =	Ls 0.702804
Band	1%
Subunit
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

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).

[edit] First lats, 1922–1940

The 5 lati coin, used before WWII, became a popular symbol of independence during the Soviet era. The coin was designed by Rihards Zariņš.

20 latu banknote issued 1935 (avers).

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 & 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.

[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 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.

[edit] 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.

[edit] Banknotes

Current Series
Image		Value	Main Colour	Description
Obverse	Reverse			Obverse	Reverse
		5 lati	Green	Oak tree	Latvian art
		10 latu	Purple	River Daugava	Sakta
		20 latu	Brown	Traditional house	Woven linen
		50 latu	Blue	Sailing-ship	Keys (Historical seal of Riga)
		100 Latu	Red	Krišjānis Barons	Belt from Lielvārde
		500 Latu	Grey	Latvian folk-maid	Ornamental brass crowns

[edit] 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.^{[citation needed]}

Currency Exchange in Latvia - Latvian currency exchange market comparison.

[edit] See also

• Latvian euro coins
• Economy of Latvia

[edit] References

[edit] External links

• Latvian Money