Currency

Currency

latvia_currency

Name: Euro
Code: EUR
Symbol: €

Latvia’s national currency is the euro consisting of 100 euro cents. Banknotes have nominal values of 5, 10, 20, 50, 100, 200 and 500 euros, while coins have nominal values of 1, 2, 5, 10, 20 and 50 euro cents, and 1, 2 euros.
The euro was introduced in Latvia on January 1, 2014, when it replaced the lat, which had been the country’s currency since 1993. The lat was also the national currency of the Republic of Latvia from 1922 to 1940.
The lat was one of Europe’s most stable and secure currencies, its exchange rate to euros was 1 : 1,423. The 500 lat banknote (711.44 euros) was the third most valuable in the world before it gave way to the 500 euro banknote in 2014. The lat was pegged to the euro since 2005 providing a fixed rate.