Latvian lats

For common abbreviations, see LAT (disambiguation) The lats (in Latvian: lats, plural lati, the ISO 4217 currency code: LVL) is the official currency of Latvia. It is abbreviated as Ls. Each lats is worth 100 santims (in Latvian: santīms, plural santīmi; from French centime).

The lats was first introduced in 1922, replacing the Latvian ruble at a rate of 50 rubles = 1 lats. In 1940, Latvia was incorporated into the USSR and the lats was replaced by the Soviet ruble at par.

The lats was reintroducted in 1993 after Latvia regained its independence, replacing the Latvian ruble at a rate of 1 lat = 200 rubles.

Coins are issued in denominations of 1, 2, 5, 10, 20, and 50 santims, as well as 1 and 2 lats. Notes are issued in denominations of 5, 10, 20, 50, 100, and 500 lats. Also, there are Commemorative Coins in denominations of 2, 10, 20, 100 lats made from gold and silver.

The euro (eiro in Latvian) is expected to replace the lats in 2008. 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. Before that, it was pegged to the SDR currency basket.

Banknotes

5 lats: oak-tree
10 lats: River Daugava and oak-leaf
20 lats: Traditional house
50 lats: sailing-ship and oak-leaf
100 lats: Krišjānis Barons and oak-leaf
500 lats: Latvian folk-maid and oak-leaf

Exchange rate

1 lats = 100 santims
1 LVL is equal to (as of 3 June, 2005):

{| border=0 EUR 1.42287 (the fixed exchange rate since 30 December, 2004) USD 1.75043 GBP 0.961696 RUB 49.6662 SEK 13.0075 LTL 4.91289 EEK 22.2632 other updated currency rates: ^*

External links

Latvian Money

Currencies of Europe | Economy of Latvia

Gourt Home::Gourt :: Latvian lats

Exchange rate

External links