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The Latvian lats (plural: lati, plural genitive: latu, second Latvian lats ISO 4217 currency code: LVL) was the currency of Latvia from 1922 until 1940 and from 1993 until it was replaced by the euro on 1 January 2014. A two-week transition period during which the lats was in circulation alongside the euro ended on 14 January 2014. [3]
After reestablishing its independence, Latvia proceeded with market-oriented reforms, albeit at a measured pace. Its freely traded currency, the lat, was introduced in 1993 and held steady, or appreciated, against major world currencies. Inflation was reduced from 958.6% in 1992 to 25% by 1995 and 1.4% by 2002.
The 5 lats coin was a Latvian lat coin minted in 1929, 1931 and 1932. It became a popular symbol of independence during the Soviet occupation of Latvia.It was reproduced in several modern commemorative coins of Latvia and is used on the national sides of the Latvian 1 and 2 euro coins.
A tender for minting the Latvian euro coins began on 20 September 2012. [46] [51] On 10 December 2012, it was announced that Latvia will utilise the Baden-Württemberg Mint. [45] [52] The coins were minted in Stuttgart except the 1 cent, 10 cent and 1 euro coins, which were minted in Karlsruhe. The production of Latvian euros began in July 2013 ...
Latvian rouble banknotes were also issued by municipalities of the Latvian Socialist Soviet Republic from 1919 to 1920. On 3 August 1922, the Cabinet of Ministers approved the "Regulations on Money" which introduced the lats as Latvia 's national currency, with one lats equalling 50 rubles.
The Bank of Latvia (Latvian: Latvijas Banka, [3]) is the Latvian member of the Eurosystem and has been the monetary authority for Latvia from 1922 to 2013, albeit with a long suspension between 1940 and 1992. [4] It issued the Latvian lats (1922-1940), then a Latvian ruble (1992-1993) and second lats (1993-2013).
Hong Kong will file a complaint on recent U.S. tariffs imposed on the city to the World Trade Organization, claiming the U.S. has completely ignored the city's status as a separate customs ...
Latvia (/ ˈ l æ t v i ə / ⓘ LAT-vee-ə, sometimes / ˈ l ɑː t v i ə / LAHT-vee-ə; Latvian: Latvija ⓘ), [14] officially the Republic of Latvia, [15] [16] is a country in the Baltic region of Northern Europe. It is one of the three Baltic states, along with Estonia to the north and Lithuania to the south.